SandyCromarty Posted August 1, 2022 Share Posted August 1, 2022 As of 2021 440 firms in banking and financial services have relocated part or all of their business to the EU, they have taken 900 Billion Pounds of assets with them. And more have done so since. Investors are now looking at London City as a financial desert. Fuckin great, serves the twats right. 0 Quote Link to comment Share on other sites More sharing options...
BFTD Posted August 1, 2022 Share Posted August 1, 2022 19 hours ago, Left Back said: Brexit obviously working. England never got close to winning a football tournament while we were in the EU. Stick Scotland down to win the world cup after next. Does that mean that Wales are winning this one, with Northern Ireland taking Euro 2024? 0 Quote Link to comment Share on other sites More sharing options...
Clown Job Posted August 2, 2022 Share Posted August 2, 2022 0 Quote Link to comment Share on other sites More sharing options...
coprolite Posted August 2, 2022 Share Posted August 2, 2022 2 minutes ago, Clown Job said: I love the tone of that. "you've brought this on yourselves" 0 Quote Link to comment Share on other sites More sharing options...
Brother Blades Posted August 2, 2022 Share Posted August 2, 2022 7 minutes ago, coprolite said: I love the tone of that. "you've brought this on yourselves" Aye, Calder hasn’t minced his words over Brexit. Can imagine the gammon rage when he appears on their tv screens! -1 Quote Link to comment Share on other sites More sharing options...
Salt n Vinegar Posted August 2, 2022 Share Posted August 2, 2022 50 minutes ago, coprolite said: I love the tone of that. "you've brought this on yourselves" I don't think that 'taking back control' is quite working out as some expected. 0 Quote Link to comment Share on other sites More sharing options...
MuckleMoo Posted August 2, 2022 Share Posted August 2, 2022 He's such an utter c**t! 1 Quote Link to comment Share on other sites More sharing options...
Salt n Vinegar Posted August 2, 2022 Share Posted August 2, 2022 6 minutes ago, MuckleMoo said: He's such an utter c**t! I understand that he is misleading, by omission. Portugal, which Rees-Mogg lauds as preferable to France, STILL require to date stamp our passports as we are a non-EU country, meaning that we have a maximum 90 day in any six month period limit on staying within the EU. Ignorant or intentionally misleading? These options are not, of course, mutually exclusive. 0 Quote Link to comment Share on other sites More sharing options...
Billy Jean King Posted August 2, 2022 Share Posted August 2, 2022 I understand that he is misleading, by omission. Portugal, which Rees-Mogg lauds as preferable to France, STILL require to date stamp our passports as we are a non-EU country, meaning that we have a maximum 90 day in any six month period limit on staying within the EU. Ignorant or intentionally misleading? These options are not, of course, mutually exclusive. I think the biometrics are intended to monitor and record your entry and exit once this comes in rather than actual staff looking at dates on passport stamps. So far it's been difficult to enforce the 90 days rule this is intended to help do just that. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted August 2, 2022 Share Posted August 2, 2022 (edited) 22 minutes ago, MuckleMoo said: He's such an utter c**t! Those five words should be the content of his Wiki page. No need for anything else. Edited August 2, 2022 by Granny Danger 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted August 2, 2022 Share Posted August 2, 2022 1 hour ago, MuckleMoo said: He's such an utter c**t! He's got one goal in life, to deregulate the City so his hedge fund can get hold of a chunk of the hundreds of billions banks and insurance companies have to keep in reserve in case of another 2008 or a really bad tsunami. Leaving the EU and getting Boris as a puppet was supposed to deal with it, but then there was Covid, the parties and Boris getting sacked. I imagine he thinks he can keep Liz under a really tight rein and get it done pronto, along with all the employee protection legislation etc. 0 Quote Link to comment Share on other sites More sharing options...
Clown Job Posted August 2, 2022 Share Posted August 2, 2022 2 hours ago, MuckleMoo said: He's such an utter c**t! 0 Quote Link to comment Share on other sites More sharing options...
Dan Steele Posted August 2, 2022 Share Posted August 2, 2022 "Our" Test cricketers... "Ignore her" "No, No, No" The mask isn't even slipping. It's off. The utter contempt Scotland is held in by Truss is quite something. We don't even show on Rees-Mogg's radar. Yet they just won't let us go. If the next referendum is No, we become just another region. 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted August 2, 2022 Share Posted August 2, 2022 2 hours ago, welshbairn said: He's got one goal in life, to deregulate the City so his hedge fund can get hold of a chunk of the hundreds of billions banks and insurance companies have to keep in reserve in case of another 2008 or a really bad tsunami. Leaving the EU and getting Boris as a puppet was supposed to deal with it, but then there was Covid, the parties and Boris getting sacked. I imagine he thinks he can keep Liz under a really tight rein and get it done pronto, along with all the employee protection legislation etc. I think the man’s a fucking moron but dearie me 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted August 2, 2022 Share Posted August 2, 2022 10 minutes ago, Left Back said: I think the man’s a fucking moron but dearie me https://www.theguardian.com/business/2022/jul/08/bank-official-sounds-alarm-over-free-lunch-city-deregulation 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted August 2, 2022 Share Posted August 2, 2022 8 minutes ago, welshbairn said: https://www.theguardian.com/business/2022/jul/08/bank-official-sounds-alarm-over-free-lunch-city-deregulation How is that backing up your claim? 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted August 2, 2022 Share Posted August 2, 2022 (edited) 14 minutes ago, Left Back said: How is that backing up your claim? It's a sensible City type saying that even he's worried about Solvency II dismantlement. Edited August 2, 2022 by welshbairn 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted August 2, 2022 Share Posted August 2, 2022 6 minutes ago, welshbairn said: It's a sensible City type saying that even he's worried about Solvency II. I’ll repeat and clarify the question. How is changing SII allowing JRM’s hedge fund to get its hands on that money? (Pension funds etc.) That was your claim. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted August 2, 2022 Share Posted August 2, 2022 (edited) 8 minutes ago, Left Back said: I’ll repeat and clarify the question. How is changing SII allowing JRM’s hedge fund to get its hands on that money? (Pension funds etc.) That was your claim. It's freeing up a huge amount of capital for investment that will be available for his firm and other hedge funds to funnel through their hands.. I wasn't suggesting it would go in his personal piggy bank, but there will be a big opportunity for a decent cut, along with the results of deregulating the banks. He hasn't exactly been shy about promoting it. Edited August 2, 2022 by welshbairn 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted August 2, 2022 Share Posted August 2, 2022 4 minutes ago, welshbairn said: It's freeing up a huge amount of capital for investment that will be available for his firm and other hedge funds to funnel through their hands.. I wasn't suggesting it would go in his personal piggy bank, but there will be a big opportunity for a decent cut, along with the results of deregulating the banks. He hasn't exactly been shy about mentioning it. So we’ve established your claim was misleading at the start. Let’s look at the detail now. Changing SII is unlikely to happen. Too many raw wounds from the financially recent event that brought it in initially. If he has a performing hedge fund that an investment fund can make money from then so what? Leaving aside whether the tax affairs or charges of hedge funds are moral the investment fund is there to make money for the fundholders. If the hedge fund doesn’t make money it wont be attracting much investment. UK pension funds don’t tend to invest in hedge funds (in the way that US ones do). 1-2% is typical. Trustees of those funds lack the time or knowledge to sanction those types of investments on a large scale so avoid the risk. On the flip side this has been a criticism of Uk pension funds for years. They aren’t maximising returns for the fundholders. If you invest in a different fund that invests in a hedge fund and you lose money then you should have read the small print. Investing in anything is a risky business. 0 Quote Link to comment Share on other sites More sharing options...
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