Nigel on the politics show today?

C_steam · 19-10-2008, 06:44 PM

Quote:

Originally Posted by SomersetYokel

"However, the European Commission has ruled that the bailout can only proceed if dividends are banned until the preference shares are repaid. Jonathan Todd, a spokesman for the Commission, said: "The Commission wanted to ensure that there was a strong incentive for the banks to repay the state as quickly as possible."

This is not the same as a 5 year ban although the UK prefs have a 5 year repayment covenant. It is however financial common sense as preference shares dividends at 12% are very expensive compared to equity dividends of say 5%. I suspect the Swiss banks, like the US banks, are not paying anything like 12% on their prefs, probably less than 5%. The Swiss are capitalists and Darling Brown are left wing bash the banks socialists. The choice between repaying prefs early and paying some equity dividend is more even for the Swiss. HMT has now back tracked and said that dividend payments can be restarted before all the prefs are repaid.

Its really down to the level of interest on the pref shares - a UK decision plus HMT's latest variation. No one is quite certain where we are on this least of all the banks.

NF would sound more authoritative and be taken more seriously if he quoted his source and avoided over-simplification. It is always dangerous in financial matters. Certainly the EU had some influence but the decision was largely home grown.

And anyway seems eminently sensible.

Mark Croucher · 19-10-2008, 06:47 PM

Quote:

Originally Posted by SomersetYokel

The Swiss are capitalists and Darling Brown are left wing bash the banks socialists. .

As opposed to what? Right wing, free-market, 'let the banks crash, the market will sort it out' capitalists?

M

Niall Warry · 19-10-2008, 08:09 PM

Quote:

Originally Posted by Mark Croucher

As opposed to what? Right wing, free-market, 'let the banks crash, the market will sort it out' capitalists?

M

As Churchill said "Capitalism is the worst economic system except for all the others"

under my rock · 19-10-2008, 08:12 PM

Quote:

Originally Posted by SomersetYokel

I thank you for pointing this out to me. I checked but it is not on p6 of my DT Business, Friday Oct 17 or in Saturdays however I did find (it) on the DT website.

Quote:

Originally Posted by Mark Croucher

I await the post where you say that you stand corrected and Nigel was correct after all.

I'm with Mark on this one! If Somerset Yokel had asked for Nigel's source BEFORE having a go at him then Somerset Yokel might not have made such a prat of himself. Apologise NOW!

SomersetYokel · 19-10-2008, 08:54 PM

It does UKIP no good for NF to misrepresent the EU position in such a way that is easily shown to be hugely inaccurate. It just shows NF is way out of his depth in this area. He was 90% wrong.

He also got well and truly shafted by Sopel on working in Brussels and looked a real prat!

eublues · 19-10-2008, 09:24 PM

Regardless of the carping it is good that Nigel is getting on the air.

European Citizen · 19-10-2008, 11:28 PM

Quote:

Originally Posted by T.N.Warry

As Churchill said "Capitalism is the worst economic system except for all the others"

Except Churchill didn't actually say that, he said:

"Democracy is the worst form of government except for all those others that have been tried." - Winston Churchill

What he said on capitalism was:

"The inherent vice of capitalism is the uneven division of blessings, while the inherent virtue of socialism is the equal division of misery." - Winston Churchill

kernow · 20-10-2008, 12:14 AM

Quote:

Originally Posted by eublues

Regardless of the carping it is good that Nigel is getting on the air.

Hear, Hear! Nigel might not be everyone's cup of tea , especially on this forum, but he does get UKIP airtime!

B.A.Ware · 20-10-2008, 12:53 AM

I only caught the back end of the program which was about Mandelsons replacement and as far as i could tell NF was against this woman as she had no business experience which was a fair point. My instant thought was hold on we are there to be against the EU not to take part in its selection of commissioners. Nigel's final words were we should have someone that is a big player hardly words from someone that wants out of the EU, is this not signs of working with the EU rather than being totally opposed.

SomersetYokel · 20-10-2008, 08:43 AM

Re air time, it would be better if we had a range of spokesmen appearing on TV like all the other parties. We currently look like a one man band. The invite will be for a UKIP rep, although of course NF & Croucher will claim its personal to Nigel. Presumably there is a fee for such appearances?

20-10-2008, 12:53 AM	#19 (permalink)
B.A.Ware Moderator Join Date: Jan 2005 Location: Birmingham Posts: 4,769 Party: UKIP	I only caught the back end of the program which was about Mandelsons replacement and as far as i could tell NF was against this woman as she had no business experience which was a fair point. My instant thought was hold on we are there to be against the EU not to take part in its selection of commissioners. Nigel's final words were we should have someone that is a big player hardly words from someone that wants out of the EU, is this not signs of working with the EU rather than being totally opposed. __________________ We’re not just about Europe.

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19-10-2008, 08:54 PM	#15 (permalink)
SomersetYokel Member Join Date: Jul 2008 Posts: 201	It does UKIP no good for NF to misrepresent the EU position in such a way that is easily shown to be hugely inaccurate. It just shows NF is way out of his depth in this area. He was 90% wrong. He also got well and truly shafted by Sopel on working in Brussels and looked a real prat!

19-10-2008, 09:24 PM	#16 (permalink)
eublues Uber Member Join Date: Nov 2004 Posts: 3,189	Regardless of the carping it is good that Nigel is getting on the air.

20-10-2008, 08:43 AM	#20 (permalink)
SomersetYokel Member Join Date: Jul 2008 Posts: 201	Re air time, it would be better if we had a range of spokesmen appearing on TV like all the other parties. We currently look like a one man band. The invite will be for a UKIP rep, although of course NF & Croucher will claim its personal to Nigel. Presumably there is a fee for such appearances?