Nationalised Northern Rock

[????]

http://www.thedailymash.co.uk/news/international/us-becomes-world's-biggest-council-estate-200809081236/

[SeanMacGabhann]

Looking back at the start of this thread I'm almost bathed in the warm glow of nostalgia

[Brendan]

The last time the electorate in the country tried to have a say there were mass demonstrations and huge amounts of public pressure making it pretty clear that all except the blind, idiotic or just plain blood hungry didn?t want this country to get involved in a pointless and immoral war.

Did the elected government listen? Did they fuck!

And now what, legislation that was hugely criticised but forced through by the elected government, under the proviso that it was for anti-terror reasons and wouldn?t be abused, has just been used to seize private assets.

[Brendan]

Here?s a question. Why do we actually need the modern banking system?

Clear and concisely in about 500 words please, with references to proper academic sources if necessary.

[mockney piers]

Debit cards are pretty useful, as are cash machines. Mortgages too are quite useful, I'm going to have to barter a helluva lot of chickens to buy a modern, centrally heated, eco-neutral house.

Investment Banking? Again, I can see how raising capital for genuine capital investment is a good thing, but all that profiteering of the back of those mechanisms? Gawd knows!

[Brendan]

I didn?t say, no monetary or banking system. I was referring to the sand-foundationed tower of greed and folly that all and sundry are currently trying to hold together from the inside, lest it collapse and expose their twisted countenances to the cold light of day.

[SteveT]

Brendan wrote:- Here?s a question. Why do we actually need the modern banking system?

We need the enormous empty space of the banking houses, as somewhere for the homeless, now we have nothing else to put in the vaults.