Sir Keir’s Kerfuffle

Also worth pointing out that investment funds are obliged by law to act in their stakeholders interests, just as PLCs are obliged to act in their shareholders interests. They don’t have the luxury of deciding not to move with the market, just because the market has moved due to a crisis.

You’re entitled to think that this is a fundamental problem with our system of financial regulation, but you’re not entitled to criticise companies and funds for acting in accordance with the law. Not if you want to be taken seriously anyway.

[jfman]

I’m not one to defend Rees-Mogg ordinarily but when I commented on this the other day, potentially in the other thread, I noted that it wasn’t particularly insightful thought anyway.

If they’re insider trading (illegal) or exploiting the situation by short selling (not illegal) then you’re into something else. But the observation that a huge economic collapse could yield significant long term returns isn’t really notable. If you picked up almost any stock in 2008 and the company still exists you’d have been well up before the latest downturn.

The underlying business models will still be there in 2024/5 and beyond for many companies. People willing to play the long term game are presented by opportunity by short teem investors essentially exiting the market.

[1andrew1]

Originally Posted by Damien

What's going to be interesting is what politics looks like after this crisis. The economy is going to be very badly hit, on a scale that we've never seen before in our lifetimes. How people feel generally will be interesting as well, this might do a number on a lot of people and change them.

One thing's for sure if NHS wasn't already the national religion it will be now. It'll be untouchable with big political cost for not giving the staff pay rises, not increasing the budget beyond what was already planned by the current government and those new hospitals will have to be built (one should be called Nightingale too in tribute to this crisis).

Personally I also think any NHS/Key worker who worked though this crisis and is on a visa should be granted indefinite leave to remain if they want it and citizenship if they want that too.

From a political point of view, Boris Johnson and his advisers had already identified the NHS as a key area but their preference was for bricks and mortar over pay rises and leave to remain.
If I was Sir Keir or Boris, I would try and focus on the NHS and care staff at the next election.

[ianch99]

Originally Posted by Paul

So to actually quote the first one, the (single) hedge fund made its profit betting on a stock market collapse.

Lucky for them, the bet worked out, Still, I'm sure everyone would have been equally 'angered' if they had lost the bet


... and wait, another firm plans to make a profit ? Wow !
Newsflash for you - all firms plan to make a profit, and plenty are.

Oh, and of course ;

Did you miss that bit ? or did it just not suit your rant.

You reduce this to banal cliches: "all firms plan to make a profit". You think that when so many firms are facing collapse, so many people are losing their jobs that it is morally acceptable for the wealthy to actively exploit this for their personal gains.

"I was only following orders" is not a defense. This is about a moral position, especially relevant at Easter when the the Archbishop of Canterbury warns of dangers of inequality after coronavirus.

If some think that criticising profiteering during a national crisis is 'ranting' then you need to grow up ..

[Mr K]

Originally Posted by ianch99

You reduce this to banal cliches: "all firms plan to make a profit". You think that when so many firms are facing collapse, so many people are losing their jobs that it is morally acceptable for the wealthy to actively exploit this for their personal gains.

"I was only following orders" is not a defense. This is about a moral position, especially relevant at Easter when the the Archbishop of Canterbury warns of dangers of inequality after coronavirus.

If some think that criticising profiteering during a national crisis is 'ranting' then you need to grow up ..

Notice Rees Mogg has done his disappearing act again, too busy cashing in.... To reappear when he's had his private vaccine no doubt.

Sir Keir will wipe the floor with these leaches.

[1andrew1]

Originally Posted by Mr K

Notice Rees Mogg has done his disappearing act again, too busy cashing in.... To reappear when he's had his private vaccine no doubt.
Sir Keir will wipe the floor with these leaches.

Whilst the nation focused on Boris Johnson's plight, how is Dominic Cummings getting on? He self-isolated at the end of last month so I assume he's not been as stricken with the virus as Boris Johnson was.

[Mr K]

Originally Posted by 1andrew1

Whilst the nation focused on Boris Johnson's plight, how is Dominic Cummings getting on? He self-isolated at the end of last month so I assume he's not been as stricken with the virus as Boris Johnson was.

Nobody cares Andrew, not even Boris.

[Sephiroth]

Originally Posted by Mr K

Nobody cares Andrew, not even Boris.

You really are hard core bitter.

Putting aside the off-topic people, Starmer was the least worst of a poor set of candidates. To win back the Labour "red wall", it needed at least someone with charisma that wasn't a committed Remainer. Of course Labour didn't have one and the games will soon begin.

[OLD BOY]

Originally Posted by Sephiroth

You really are hard core bitter.

Putting aside the off-topic people, Starmer was the least worst of a poor set of candidates. To win back the Labour "red wall", it needed at least someone with charisma that wasn't a committed Remainer. Of course Labour didn't have one and the games will soon begin.

True. This may be food for thought.

https://www.dailymail.co.uk/news/art...e-scandal.html

[Mr K]

Originally Posted by OLD BOY

True. This may be food for thought.

https://www.dailymail.co.uk/news/art...e-scandal.html

If it's the DM it's more like something to use instead of loo roll.

They are really getting desperate.

Originally Posted by OLD BOY

True. This may be food for thought.

https://www.dailymail.co.uk/news/art...e-scandal.html

The changes that were introduced by the Conservative Government of the day, when the Justice Department was lead by Chris Grayling?

Wonder why they don’t want an apology from him, or from Dame Alison Saunders, who was the DPP when the investigation into Paul Gambaccini was undertaken?

Or perhaps Bernard Hogan-Howe, who was the Met Police Commissioner at the time - it was his officers who interviewed Mr Gambaccini.

A small point, but a very important one - the CPS (whoever is in charge) does not decide who gets investigated; the Police do that.

[denphone]

Originally Posted by Mr K

If it's the DM it's more like something to use instead of loo roll.

They are really getting desperate.

Sadly like the vast majority of British newspapers be them politically left or right they have become political propagandist's mouthpiece's.

[Sephiroth]

Originally Posted by denphone

Sadly like the vast majority of British newspapers be them politically left or right they have become political propagandist's mouthpiece's.

I don't think you're right. The Torygraph & FT apart (!), the press slags are egocentric predators. But maybe you meantt hat.

[OLD BOY]

Originally Posted by Mr K

If it's the DM it's more like something to use instead of loo roll.

They are really getting desperate.

Forget who ran the story. Are you saying it's not true and if so, where's the link for this?

[pip08456]

Originally Posted by Hugh

The changes that were introduced by the Conservative Government of the day, when the Justice Department was lead by Chris Grayling?

Wonder why they don’t want an apology from him, or from Dame Alison Saunders, who was the DPP when the investigation into Paul Gambaccini was undertaken?

Or perhaps Bernard Hogan-Howe, who was the Met Police Commissioner at the time - it was his officers who interviewed Mr Gambaccini.

A small point, but a very important one - the CPS (whoever is in charge) does not decide who gets investigated; the Police do that.

Links please.