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Tuesday 21 September 2010

Sarah McDermott | 11:36 UK time, Tuesday, 21 September 2010

Here's what we are planning for tonight:

The Business Secretary, Vince Cable, has suggested that a tax on bankers' pay and profits could be introduced if banks continue to pay huge bonuses to their staff. Both he and Nick Clegg - the two most senior Liberal Democrats in the cabinet - have said the payments are offensive to taxpayers who bailed out the banking system.

Our Political editor Michael Crick will be bringing us the latest from Liverpool later, and Kirsty will be speaking live to Cabinet Minister Chris Huhne. (And you can pit your knowledge of the Lib Dems against Michael by playing the first of his )

Then our Diplomatic editor Mark Urban will be considering why there is an arms race going on in the Arab Gulf States. Is it because of the possibility of an Iranian nuclear threat, or the imminent withdrawal of US troops from Iraq?

And we'll be marking International Day of Peace with the founder of the Peace One Day movement Jeremy Gilley. We'll ask him how practical the idea is of one day a year free of conflict and what impact it can have.

Do join Kirsty and Jeremy at 10.30pm on 成人快手 Two.

Comments

  • Comment number 1.



    "From this confluence of campaign finance, personal connections, and ideology there flowed, in just the past decade, a river of deregulatory policies that is, in hindsight, astonishing:

    鈥 insistence on free movement of capital across borders;

    鈥 the repeal of Depression-era regulations separating commercial and investment banking;

    鈥 a congressional ban on the regulation of credit-default swaps;

    鈥 major increases in the amount of leverage allowed to investment banks;

    鈥 a light (dare I say invisible?) hand at the Securities and Exchange Commission in its regulatory enforcement;

    鈥 an international agreement to allow banks to measure their own riskiness;

    鈥 and an intentional failure to update regulations so as to keep up with the tremendous pace of financial innovation.

    The mood that accompanied these measures in Washington seemed to swing between nonchalance and outright celebration: finance unleashed, it was thought, would continue to propel the economy to greater heights."







    'Across' this one maybe ? -



    See it Kirsty, any good do you reckon ?

  • Comment number 2.

    MARRIAGE FOR ALL - IT'S ONLY FAIR

    The Singleton ethos is one of diligence and thrift (there was a war on).

    My brother died single and was stripped of eye-watering Inheritance Tax; had he married me, none would have been paid.

    Now my sister and I are wealthier than before, but even in our 70s, IN THE AGE OF FAIRNESS, we cannot marry. When one of us pops off, HMRC will come a-robbing.

    March for sibling marriage! Our slogan: AS GOOD AS A GAY - ANY DAY!

    Oh - it's all awfully unfair.

  • Comment number 3.

    THE PEACE DIVIDEND IN GRATE BRITAIN

    As we rely on our 'defence industry' to supply offensive weapons to Johnnie Foreigner (in case we invade) a Peace Day would be of considerable help in catching up on the adjustment of documents, to look benign.

    It's a no brainer - or perhaps just the odd limb.

  • Comment number 4.


    International Day of Peace?

    "How practical is the idea of one day a year free of conflict and what impact can it have?"

    Oh dear, I completely forgot to celebrate World Rubber Day (12th Sept) in the an appropriate way: the Pope never mentioned it either. Anyway, I鈥檓 still busy celebrating my Prostrate Cancer week (19th-25th Sept) and looking forward to Mole Day (23rd Oct) Kindness Day UK (13th Nov) and Transgender Day of Remembrance(20th Nov). Then there's Christmas....or have we dropped that now to be free of conflict?

  • Comment number 5.

    #4 Then there's Christmas....or have we dropped that now to be free of conflict?
    Oh dear you do not want to be upsetting those who do not want Christmas

  • Comment number 6.

    2. At 1:35pm on 21 Sep 2010, barriesingleton wrote:

    "March for sibling marriage! Our slogan: AS GOOD AS A GAY - ANY DAY! "

    No. Gay marriage is less harmful genetically than such cosanguineous marriage would be.

    Do all anarchists strive for equality in ineducability?



    "And we'll be marking International Day of Peace with the founder of the Peace One Day movement Jeremy Gilley. How practical is the idea of one day a year free of conflict and what impact can it have?

    More details later."

    I've noticed that in recent times I've started falling asleep whilst watching Newsnight. I'm currently trying to decide whether it's just my age, or if it's because Newsnight's become brain-numbingly stupid. Many of the questions being asked strike me as rather odd and appear to elicit equally inane answers. It's got to be my age yes?

    This is of course just one viewers point of view (not that this probably matters), but I do wonder if maybe the programme producers/presenters may not appreciate that they're asking inane questions and that some of their interviewees might be better off just giving them funny looks?

  • Comment number 7.


    Forget Peace. How about an ENGLISH Day?

    Further to my #4 above, here鈥檚 one I posted earlier (7th Aug) on the broader issue of the many posts citing the inequalities of our society.

    鈥..with our tolerance, apathy, lethargy and complacency I don鈥檛 see any hope of radical action by the indigenous public. Perhaps we should demand an English National Day on which to establish a routine of mass protest and demonstrate people power based on the Tolpuddle Martyrs, gaining unity by membership in Trades Unions and associations, including retirees. The internet and blogging has informed yet introverted and fragmented us: thus providing a safety valve against any real action or protest鈥.

    The calendar is running out of days to commemorate things that vie for attention, and so am I, but I鈥檇 rather go out with a bang than a whimper.

  • Comment number 8.


    James Rickard's interview on bank regulation, US economy and a calm but scary message on hyper-inflation :-

  • Comment number 9.

    Wow, brossenn99 and Roger Thomas will just lurve this one

  • Comment number 10.

    Charles Munger on bailouts before handouts - (sick bag may be needed )

  • Comment number 11.

    "support more robust cooperation between the two regulators."



    Well well well, we will see what we will see.

  • Comment number 12.

    JOHNNIE FOREIGNER IS GETTING THE HANG OF BRITISH TOLERANCE!

    I went to nip across the A4, in Newbury, before the little green man turned red, but had to step back as a fully geared and be-cycled Itie (guess) jumped his light and bore down on me. As he faltered, I made a citizens arrest of his left arm, and asked him (with some vehemence) if he could not read 'RED'. His nonchalance provoked me to a touch of generalised racism, as I suggested he might be 'some kind of bloody foreigner' and that is when he proved his credentials (and Britain's stupidity) playing a trump card. His riposte ran: (in competent English) "OH YOU HAVE A GOOD ATTITUDE!" And he rode off abusing me in what sounded like Italian.

    Under EU rules - can we bomb Italy?

  • Comment number 13.

    internation day of Piece auntie are u takin the Piece 2

  • Comment number 14.

    JOHNNIE FOREIGNER IS GETTING THE HANG OF BRITISH TOLERANCE!

    I went to nip across the A4, in Newbury, before the little green man turned red, but had to step back as a fully geared and be-cycled Itie (guess) jumped his light and bore down on me. As he faltered, I made a citizens arrest of his left arm, and asked him (with some vehemence) if he could not read 'RED'. His nonchalance provoked me to a touch of generalised differencism (for Blogdog), as I suggested he might be 'some kind of (expletive deleted 鈥 for Blogdog)) foreigner' and that is when he proved his credentials (and Britain's stupidity) playing a trump card. His riposte ran: (in competent English) "OH YOU HAVE A GOOD ATTITUDE!" And he rode off abusing me in what sounded like Italian.

    Under EU rules - can we bomb Italy?

  • Comment number 15.

    #14 barrie
    鈥淯nder EU rules - can we bomb Italy?鈥

    Seizing a Left arm has a sinister ring about it under heraldic law, and arm clamping is probably now banned. Bombing might not meet EU proportionality unless driving on the Right (wrong) side. I always carry a banana when crossing the road, ready for the up-the-exhaust pipe detention method. Try for child abuse, or lifetime loss of income. Arrivaderci Roamer.

  • Comment number 16.


    @tabblenabble01

    "I've noticed that in recent times I've started falling asleep whilst watching Newsnight. I'm currently trying to decide whether it's just my age, or if it's because Newsnight's become brain-numbingly stupid. Many of the questions being asked strike me as rather odd and appear to elicit equally inane answers. It's got to be my age yes?"


    I don't think that it's your age but stating something that has become increasingly obvious - strictly light-weight, pollyfilla news "stories" that masquerade under the dubious title of human "interest".

    "World peace day" - patonising piffle that should be self-evident as such to anyone who spends even half a second thinking about it. Why not have an International Day of War? After all, not all warfare is "bad" and is often necessary to liberate people from slavery and sometimes genocide.

    From this context, it soons becomes clear that a world peace day is as meaningless as dedicating a day to its direct opposite.

    Of the multitude of controversial topics, serious issues and heated debates, "world peace day" is of no real interest to anyone unless you happen to be a self-obessed celebrity whose looking for the latest right-on band wagon to jump onto.


  • Comment number 17.

    Commommuck Games

    ...International delegates have said the facilities are filthy and unhygienic, just days before athletes arrive.

    A senior official said Westerners had "different standards" of hygiene...

    /news/world-south-asia-11385214


    So its rcist to criticise?

  • Comment number 18.

    10. At 4:36pm on 21 Sep 2010, flicks2:

    Re-read the end of the quote in your article, then look up the Banking Act of 1933 (USA), then consider when Hitler became Chancellor (and why), and what the 1934 Banking Act (Germany) and 1935 Banking Act (USA) brought about.



    Is this not what's most feared by financial services and liberal-democratic governments which rely on these banks to power their economies? Perhaps that should be worded so that it can be seen more clearly how our politicians really work 'for' the banks (it's more obvious in the USA). The rest, I suggest, is just very effective emotive vilification, in order to prevent regulation (of speculation).

  • Comment number 19.

    #16

    a 'magical' text from whoever you are
    you ought to get a medal for it as a reward, or made into a 'celebrity' as a punishment, if you know what I mean

  • Comment number 20.

    "Since government finances are close to an inflection point, so is the price of gold. As gold prices take off, those short positions in London and on Comex will bankrupt the bullion banks, and in the public mind at least, confirm the worthlessness of fiat currencies and the bankrupt state of governments themselves. "


  • Comment number 21.

    IT'S NOT THE CAPITALISM STUPID

    Capitalism runs out of control due to lack of INTEGRITY in capitalists.

    Imposing external constraints, just moves the problem elsewhere - even induces a whole new enterprise of evasion. Change the CULTURE in which our young grow up, and SELF CONTROL removes the problem.

    Of course, if you are stupid enough to import swathes of people of OTHER CULTURES, or to put your business in foreign hands, you reap what you sow.

    Global isn't working.

  • Comment number 22.

    :p World Peace Day - what a load of piffle indeed! Dame Ann Leslie was the only one who spoke sense :o)
    Interesting debate by Jeremy with Dalton & Edalat on the US$billions spent on weapons in the Gulf States....
    The only good thing at the Lib Dem conference was Kirsty, the guests were snoreworthy.

  • Comment number 23.

    Global is working, it just takes time, singie, but it needs the right pair of hands, a few pairs in fact, on top of everything, sinie. Not that the humanity is likely to ever reach a lovey duvey kind of harmony, be it between states, acquaintances or even within all families. It is, alas, a dog's world. Or should I say, a cats' & dogs', mules' & pigs' world, which brings me to the American song 'Swingin' On a Star'. I'm quite sure it's avaialble to listen to on utube.

  • Comment number 24.

    Mr table 01

    Did you talk to Ann Lesley before Newsnight by any chance? She seemed to be 'singing' from the same time sheet as yourself in #18.

  • Comment number 25.

    INACCURACY (#22)

    I fail to see how any of her victims can fall asleep 76. Kirsty barks another question, even before the listners have had time to decipher the previous one.

  • Comment number 26.

    The interview with Jeremy Gilley (Peace One Day movement) and Ann Leslie (Daily Mail), was like watching the contest between a trout and an angel fish. I knew which one I would like to win, but I know which one will win. Sadly.

  • Comment number 27.

    The nature of the internet and a new type of investigative blogging / gold bug /news letter person who seeks out the bleak and then make it public means that now you cant just get up, bang on about saving 4 billion, the unemployed being lazy and sickness benefits when someone one pops up and informs that the UK spent 12 billion in July alone on US bonds, another on billionaires attacking the fractional London gold market, another demonstrates how high frequency trading is being used to manipulate and probably responsible for the flash crash.

    Vince has realised he cant stand up and talk the same old same old.

    Re: last link on first post. I dont happen to think Keith Coventry is a particularly brilliant artist. (certainly he is not bad) A number of the influential people decide he is and decide he is the winner of the John Moores painting prize and so he now has a career in art - he has value and desire given to him - he has become "rigged" in his favour . This is how it is, we are inherently "riggers" there is nothing which could be described fair or honest. Only in blab talk that is now shot down over the internet. This is the money desire value world. The concept of a prize is a method to rigg desire scarcity and money profit making. Jesus is good to manipulate a 'rigg' And this is the rest of the world in just about everything. The game changer is that we cant have the wool pulled over us any more with the internet.

    I recently received a link to a 'Save The Arts' call for signatures.The organisation who sent it court the patronage of the German stock exchange and in the past certain banks for their arts prize. knowing in detail how the financial situation happened I felt total contempt for their hypocrisy, told them so and sent them links detailing pretty much specifically how the people they chose to be involved with had helped trash the world, 'rigged' it set up a prize and made sure who the winner was. And who would be left vacant; removed of; emptied out from. And now blamed.

  • Comment number 28.

    I thought the stuff on Iran was shameful NN is just helping to prime the public for war just like Blair. When you see what the banks and elitists have done Ahmadinejad doesn't look so crazy ( barbaric behaviour towards homosexuals and women aside ) One of the buildings on 9/11 was brought down that cant be denied - nothing hit it so the building was full of explosives quite some time before. The inference of that suggests 9/11 was a rigged situation . That sure starts to look crazy. We dont have rampant capitalism we have destruction capitalism and TV / mainstream media manipulation that the blogger's are shooting down. I'm sure 'for our own good' internet access will be blocked for all our work in exposing the vile nature of what has gone on. Hopefully someone some where will produce internet mk 2 for the rest of us who dont want the crap any more.

  • Comment number 29.

    BTW new highs for gold and silver goes to $21 .

  • Comment number 30.

    @ Barrie#25 - I meant the guests were boring, not Kirsty :o)

  • Comment number 31.

    WILL CABLE ADDDRESS THE PERNICIOUS BUSINESS 'CREDIT TERMS' ISSUE?

    For decades, predatory businesses have 'traded insolvent', hidden in a forest of over-long inter-company credit. Then they go bust (cushioned by limited liability law) and take any number of VIABLE companies with them. With banks not lending, the plight of the scammed company is even more dire.

    All that was ever needed, was a legally enforced upper limit to credit terms WITH BOTH SIDES CULPABLE IN THE BREACH. Instead we got the pathetic right to charge interest - FURTHER OBSCURING the deliberate insolvency. And who gains by all this? Guess.

    With banks not lending it is vital that invoices are paid in short order. But it would seem that banks have a mysterious (as yet unexplained) power over government. I doubt this issue will even be glanced at. And that Vince Cable is SUCH a nice man too.

  • Comment number 32.

    A relative of mine lives here :-



    A year ago they asked me how it all happened ? I sent links of what the banks had done. They want to move here. I told them when you spend 12 billion a month on us bonds and blame the poor and sick have banks that have legal embezzlement we're next.



    "Using taxpayer money and the FDIC to secure a portion of deposits against banker fraud is not the solution to the problem. The solution is not to use billions, or even trillions, of taxpayer dollars to bail out banks who did stupid things with the money they embezzled. The solution is to make the embezzlement illegal, to stop the fraud."

    And Errr "The fractional reserve system allows banks to leverage reserves"

  • Comment number 33.

    RE: A CHOICE -



    It must be a difficult choice for some you.

    mim

  • Comment number 34.

    #32 More unemployment flicks2, will happen here just the same, it won't just be in the US. Also look at europe, high unemployment as well, young people in France find it almost impossible to find work, and I believe Spains unemployment is around 20%. And Greece and it's collapsing economy, with more immigrants than any other country in Europe, and now being accused of treating them unfairly. No wonder europe is moving to the right.

    We have far too many people living in britain now, our jobs are exported to low wage economies and we import millions to take our jobs, so just where is the work going to come from for british workers?

    Yes banks are partly to blame but not entirely, until the world gets to grips with the massive overpopulation of our planet, we are all going down the plughole!

    Look at the situation in Pakistan 21 million without homes and enough food, how on earth does Pakistan cope with such a position.

  • Comment number 35.

    Dispatch/Dispaches Channel 4

    M.O.D. how mod are u

    they beet u 2 the Guns/Drums there auntee

    Haul/pull yer nicks/socks up

  • Comment number 36.

    Try Try and try a GAIN was that a try

  • Comment number 37.

    doo u luve me ?

  • Comment number 38.

    Kirsty Kapitalism

    Capitalism leads to monopoly. standard economic theory. there is nothing 'emotional' about saying that. The only people emotional were kirsty and cricky. does no one do economics on NN? This is why the market knows all hayekism is barmy. Markets deliver profit. Not knowledge. Not social services. Just look at your gas bill and the european gas chart price and ask why you are paying so much when the price is so low.

    Demons Among Us

    When the national debt is paid off and the public paid off then the banks can talk?

    Equality and Fairness Proofing?

    the old idols that demand human sacrifice.

    The Neocon Soap.

    Given the RAF have been practice bombing 'iranian' targets what should they think? If Iran was practice bombing uk targets what would we think?

    Trustafarians

    Feel they need to 'do' something. Protest about bypasses, world peace, whatever.

  • Comment number 39.

    I bet tn01 didn't fall asleep watching NN last night (well the first half at least).

    What with Vince Cable denouncing capitalism 'n all.

    The free-market anarchists were running around with their pants on fire after hearing of Vince's comments during last night's fringe meeting at the LibDem conf.

    Vince's comments certainly seemed to ruffle Kirsty Sqwark's feathers.....'he is saying that CAPITALISM is THE enemy....not just unbridled capitalism....but CAPITALISM itself!!!' she kept on repeating in her hysterical voice.

    ------------------------------
    Business steps up attack on 鈥檙abble-rouser鈥 Vince Cable

    "Lord Digby Jones, a former director general of the CBI and a trade minister under Labour, accused the Business Secretary of planning 鈥渁 liberal rabble-rouser鈥 address that was incompatible with his role in government. 鈥淗e is inside the tent now,鈥 Lord Jones told 成人快手 Radio 4鈥檚 Today programme."

  • Comment number 40.

    20. At 10:26pm on 21 Sep 2010, flicks2

    Do you look into the nature of the websites which you cite, considering to what extent they may have a market-manipulation agenda?

    For instance, what is the value of the stocks, bonds and commodities traded on the markets every day, vs the total value of all of the gold in the world?


    21. At 11:34pm on 21 Sep 2010, barriesingleton wrote:
    IT'S NOT THE CAPITALISM STUPID

    Capitalism runs out of control due to lack of INTEGRITY in capitalists."

    Just like crime runs out of control through lack of social conscience in criminals perhaps? But surely that just renames or removes the problem to another domain? But how do we identify lack of conscience in people, or how do we instil it? How do we measure and police it? In the end it comes down to selection and regulation, which is much harder than just renaming the problem as you do above I suggest.

    "24. At 00:05am on 22 Sep 2010, mimpromptu wrote:
    Mr table 01

    Did you talk to Ann Lesley before Newsnight by any chance? She seemed to be 'singing' from the same time sheet as yourself in #18."

    No, but perhaps some who either read this bog or the wider literature recognise good analysis and can learn from it rather than self-defeatingly arguing with the facts of the matter all the time?


    "29. At 08:45am on 22 Sep 2010, flicks2 wrote:
    BTW new highs for gold and silver goes to $21 "

    Two (hopefully helpful) heuristic questions:

    1) Why was the main 9/11 attack on the WTC in NYC and not somewhere else?

    2) Were you talking up the dot.com and property booms in the last decade?.


    34. At 10:13am on 22 Sep 2010, ecolizzy wrote:

    "No wonder europe is moving to the right."

    Try to take this on board ecolizzy: the right is free-market, Libertarian, i.e precisely what caused the financial crisis through excessive leverage/credit ie predatory lending in the first place. If Europe is moving to the right that can only be because efforts to regulate financial services are in fact failing, and these efforts to regulate are failing because most people are being misled into falsely believing that regulation is right-wing. The psychology of this is really quite clever. Anarchists (deregulators) will have most people fearing regulation by making them associate it with fascism. But fascism was left-wing not right-wing. What the financial services fear is a return of legislation in the USA and Germany form 1933 onwards which was effectively Keynesian. Economics for much of the last forty years has been non Keynesian. See Friedman, Hayek etc and what they vilified and look into who the most prominent economists have been since the end of WWII. It is statistically unexpected.

  • Comment number 41.

    I'm fully aware that they are "talking their book" everyone is "talking their book"

    The question is what can you take from it when you remove their selling ?

    ok I know gold is in a bubble, the importance is what its says and as a store of wealth when to get out - intelligent liquidation ability and the timing there of = confidence.

  • Comment number 42.

    Barrie...don't start trouble....you know those on pavement bikers are a law unto themselves....

  • Comment number 43.

    "39. At 11:38am on 22 Sep 2010, DebtJuggler wrote:
    I bet tn01 didn't fall asleep watching NN last night (well the first half at least)."

    Correct, although as you predicted, I flagged at the tail end.

    All Cable needs to do now is to lead his flock away from Libertarianism and towards policies once championed by the Webbs and other Fabians who were the brains of the original Labour Party. If he plays his cards right, he'll attract many into his party who now see that they were radically misled by New Labourites, although, the likes of Lynne Featherstone will have to be alternatively deployed, as good sense and Mills and Boon Lib-Dem romantic rhetoric are just a neurotic/toxic mix.

  • Comment number 44.

    "ok I know gold is in a bubble, the importance is what its says and as a store of wealth when to get out - intelligent liquidation ability and the timing there of = confidence."

    Isn't that behaviour precisely what fuels bubbles? It's speculation.
    Staying out of it when one can profit from it in the short term is hard I agree, but that's the crux of this. If you look into Points 17 and 18 of the 1920 German '25 Points' you'll see that draconian measures were advocated (not adopted in the 1930s) in order to get Germany out of the anarchistic conditions which prevailed at the time. The lure of short term profit (or escape from loss) is highly seductive. That's the problem. It's like telling kids they can't have sweets immediately, and when more and more of the population behaves like children..........well, I'd like to think you can see the problem.
    This is what has been happening in recent times. This is the democratic problem.

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