Garrick club

[BillyStubbsTears]

Tyke.

You are still utterly missing the point.

The Global Financial Crash came about BECAUSE of the risks which the (male dominated) financial sector. They took risks entirely in their own interests.

THAT is the point. A sector which prized risk takers may or may not have been doing the right thing for itself. But in doing so, it f**ked up the entire western world.

Her point was that it might just have been better FOR THE WORLD if society valued the safer, less risky approach that a female-led finance industry might have taken.

What you are doing is missing the point. You are working on the assumption that the finance industry is and always has to be free to indulge itself. Strange for a socialist.

[tyke1962]

Tyke.

You are still utterly missing the point.

The Global Financial Crash came about BECAUSE of the risks which the (male dominated) financial sector. They took risks entirely in their own interests.

THAT is the point. A sector which prized risk takers may or may not have been doing the right thing for itself. But in doing so, it f**ked up the entire western world.

Her point was that it might just have been better FOR THE WORLD if society valued the safer, less risky approach that a female-led finance industry might have taken.

What you are doing is missing the point. You are working on the assumption that the finance industry is and always has to be free to indulge itself. Strange for a socialist.

But it doesn't meet reality Billy , the finance industry isn't going to be anything other than it is because it creates far too much wealth which creates excellent tax returns for governments .

In what kind of fantasy world does the hiring of predominantly women exist in order to regulate an industry ?

It doesn't exist does it because it would never be allowed to exist .

The same as they weren't ever going to be allowed to go under following the financial crash .

These people practically control the world , governments work for them it ain't the other way round .

Here's the thing though , how would it be better for the world if a predominantly women finance industry was more cautious but made less money ?

[BillyStubbsTears]

Tyke.

Your last paragraph.

The finance industry does not MAKE money. It distributes it.

In an ideal world, it distributes money in a way that optimises the workings of the REAL economy. The economy of production that uses that money to make useful things.

The GFC demonstrated beyond doubt that it didn't distribute it for the good of society as a whole. It took fantastic risks to optimise the share of the money going to those who ran the finance industry, and in doing so, it damn nearly tipped the real economy into a second Great Depression. It certainly led to the last 15 years being the worst that the real economy in the West has experienced since the Great Depression.

THAT is Lagarde's key point. That the finance industry could and should be managed better for the overall benefit of society. I'd have thought that much was obvious to a socialist.

PS. Her comments about the finance industry being better if it was run by women were tongue in cheek. She's not a stupid Culture War ideologue who thinks all women are better than all men. Of course some women can be as bad as the worst men. Look at Truss for example. She used those words to highlight the deeper point she has about the purpose and incentives of the finance industry.

If you dismiss people like her as stupid, or as Culture War enemies, there's no hope of ever finding ways to better run Finance for the good of all of us.

[SydneyRover]

Tyke.

You are still utterly missing the point.

The Global Financial Crash came about BECAUSE of the risks which the (male dominated) financial sector. They took risks entirely in their own interests.

THAT is the point. A sector which prized risk takers may or may not have been doing the right thing for itself. But in doing so, it f**ked up the entire western world.

Her point was that it might just have been better FOR THE WORLD if society valued the safer, less risky approach that a female-led finance industry might have taken.

What you are doing is missing the point. You are working on the assumption that the finance industry is and always has to be free to indulge itself. Strange for a socialist.

But it doesn't meet reality Billy , the finance industry isn't going to be anything other than it is because it creates far too much wealth which creates excellent tax returns for governments .

In what kind of fantasy world does the hiring of predominantly women exist in order to regulate an industry ?

It doesn't exist does it because it would never be allowed to exist .

The same as they weren't ever going to be allowed to go under following the financial crash .

These people practically control the world , governments work for them it ain't the other way round .

Here's the thing though , how would it be better for the world if a predominantly women finance industry was more cautious but made less money ?

Well done tyke you've managed to drag the topic from membership of a stuffy old men's club to conspiracy theories and other misunderstandings.

Ere tyky wek up, wek up ............

wot wot arghhh

The miners strike's over luv its all done, you were having a bad dream ........ mek ya a nice cuppa eh? I warmed up the the puter for ya too ............

[tyke1962]

Tyke.

Your last paragraph.

The finance industry does not MAKE money. It distributes it.

In an ideal world, it distributes money in a way that optimises the workings of the REAL economy. The economy of production that uses that money to make useful things.

The GFC demonstrated beyond doubt that it didn't distribute it for the good of society as a whole. It took fantastic risks to optimise the share of the money going to those who ran the finance industry, and in doing so, it damn nearly tipped the real economy into a second Great Depression. It certainly led to the last 15 years being the worst that the real economy in the West has experienced since the Great Depression.

THAT is Lagarde's key point. That the finance industry could and should be managed better for the overall benefit of society. I'd have thought that much was obvious to a socialist.

PS. Her comments about the finance industry being better if it was run by women were tongue in cheek. She's not a stupid Culture War ideologue who thinks all women are better than all men. Of course some women can be as bad as the worst men. Look at Truss for example. She used those words to highlight the deeper point she has about the purpose and incentives of the finance industry.

If you dismiss people like her as stupid, or as Culture War enemies, there's no hope of ever finding ways to better run Finance for the good of all of us.

Oh right it's tongue in cheek is it , clumsy language is accepted when it suits of course .

I don't know why you are going with the socialist remark given you'll soon be out campaigning for the most right wing Labour Party in history who now have ERG members amongst them .

If Lagarde really wanted to regulate the finance industry she's held enough roles to have had a powerful influence over it but chooses the culture route instead .

She's not a culture warrior and neither is she stupid , she's just misguided enough to go down the equal outcomes route .

Until progressives wake up and admit they are wrong on this which is a pretty tall order given they believe they can't ever be wrong then expect a huge amount of resistance .





I

[BillyStubbsTears]

Bye bye Tyke.

Your time has been and gone.

You had your shot at trying to bring in a better world and you f**ked it up. You were the ones who ushered in the world where this model of finance rules.

We'll sort it out. Going to take a while though.