Something needs to be done to stop price fixing. Because it's a fact that it does happen and as yet, there is no real deterrant for multi billion companies to stop doing it. And look what happened to the banks when they were allowed to grow unabated.
not quite true Insurance companies all talk to each other and 'fix' certain things Also I watched the programme recently which highlighted that Insurance prices are not rising due to an increase in crashes as such, but because the insurance companies make money by selling your names to lawyers for injury claims, its these claims that the lawyers get huge amounts for themselves from that is in fact making prices rise One lawyer they showed got £1700 for a case through this method, whereas it should have been £200 odd normally
I do agree that price fixing should be stopped and that banks and other financial institutions need to be more tightly regulated as the crash would never have been this serious if this were the case.
I'll be honest here and admit that I really don't know how damaging it would have been to allow the banks to fail. It sounds like it would've done a lot of damage, but then it's in a lot of people's interests to allow us to believe that. Personally, I'm more bothered by the fact that very few people that benefited from it were brought to task.
The thing that really annoyed me was taxpayers money going towards bailing out organisations like the Presbyterian Mutual Society as they are not a traditional bank and their clients were not savers, they were investors getting a much larger return than traditional savers. Do people not realise that investments are always a risk and that only they are to blame if they lose money due to a failed investment.
The Banks are still failing and some argue that they will eventually go bust within the next year or so. If Greece or RoI default on their re-payments, then this would be disasterous for Lloyds and RBS and countelss other banks. And many analysists say the the USA, the biggest purchaser of anything in the world, WILL default on repayments, hence the turmoil in the markets this week. All the Quantititive Easing and bailouts have not fixed anything, just delayed and prolonged the depression.
Greece and ROI should never have got the bailout loans as defaults are inevitable, especially in Greece. These countries should have been allowed to fail and the other countries should be looking to sort their own economies before helping others which will lead to more problems down the line.
