It has to be reported but the tone just seems all wrong...

I completely agree and understand that the current financial turmoil has to be reported- fairly and accurately. However, the media seem to share the same joy that certain memebers of our forum hold in the collapse around our ears of the financial system.

The overwhelming smugness with which it is reported on the BBC really annoys me. They really should change their tone. I am not asking them to deny it is happening or paint a rosy picture that is not there BUT to give it the levity and respect it requires, rather than acting like pigs in poop.

Feisty!

Could a mod please correct my terrible spelling of tone in the title please!

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Originally Posted by menthel

Could a mod please correct my terrible spelling of tone in the title please!

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i thought you meant tomb ;)

I aggree with Menthel - why the hell are people shouting "let the banks fail!", when the banks are the ones providing finance to their companies so they are able to pay them/keep their jobs secure.

They'll all poop soon enough - this recession porn is so contrary it's almost funny.

Recession porn, nice phrasing there!

When their big 'fat cats' start to fall and go bankrupt, then they will worry.

I think some people want certain institutes to fail so that there may be a greater chance of accountability happening.

It would be nice if the super-rich were forced to hand over a large percentage of the wealth they made through the system, to help re-stabilise the system......rather then ordinary tax-payers stumping up the money while the rich run off with their squandered wealth.

Riiiiiight: Lets all watch the fat cats go broke! Ha that'll teach them!:woowoo:

The voting down of the bailout was decided by the man on the street last night as it's such a political time in the US cycle. Watching the news they're ecstatic about the banks getting their comeuppance... lets see how happy they are when they start to lose their jobs.

Yes it sucks, no, it isn't fair, but the price to the working man of the failure of the banks is far higher than the price of bailout.

People don’t seem to be focused on the fact that it’s a series of errors, many of which haven’t made people rich, which landed us in this stinking mess. The gravest of which was the debt-ranking agencies (e.g. Moody’s) that decreeing that many of the loans were AAA rated. They hardly made a fortune form that mistake.

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Originally Posted by shaithis

I think some people want certain institutes to fail so that there may be a greater chance of accountability happening.

It would be nice if the super-rich were forced to hand over a large percentage of the wealth they made through the system, to help re-stabilise the system......rather then ordinary tax-payers stumping up the money while the rich run off with their squandered wealth.

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If only the rich had to pay more tax, say 40%, while the poorer people only say 20%.

The poorer people would of benefited from the boom less than the rich, but also the government would of accured less tax from them, and more from the rich.

if only.:rolleyes:

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Originally Posted by TheAnimus

If only the rich had to pay more tax, say 40%, while the poorer people only say 20%.

The poorer people would of benefited from the boom less than the rich, but also the government would of accured less tax from them, and more from the rich.

if only.:rolleyes:

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You think that earning over the 40% tax boundary makes you rich? lol

I am talking about the RICH, not the above average earners.

but they are paying at 40%, least those who are living in this country.

Not to mention plenty of them will of lost vast amounts of wealth with the way the markets have been lately.

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Originally Posted by menthel

I completely agree and understand that the current financial turmoil has to be reported- fairly and accurately. However, the media seem to share the same joy that certain memebers of our forum hold in the collapse around our ears of the financial system.

The overwhelming smugness with which it is reported on the BBC really annoys me. They really should change their tone. I am not asking them to deny it is happening or paint a rosy picture that is not there BUT to give it the levity and respect it requires, rather than acting like pigs in poop.

Feisty!

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Well yes, i see what you are saying to a certain extent, but it works both ways with the bbc.

For example, the reporting of the current "bust" is in truth as sensationalist as the past "boom" of the last few years. Just look at the incessant property porn on bbc over the last few years. Being repeated and repeated over and over. "Yes property prices only go up... you can be a landlord as well". With a brad and Bing btl mortage. Don't worry about money, yes your a supermarket shelf stacker on £14k but don't worry you can self cert on a property 10x what you earn - its all fine, everyones doing it.

Now the chicken is home to roost the tone has changed totally. Doom and gloom. House prices crashing, markets on the way down. Its just the normal bbc reporting in a bear rather than bull market. Its no surprise to me.

It's the Evening Standard's Will Self, and a couple in The Independent and The Times I'm referring to with my 'recession porn' comment, I usually feel the beeb gets the tone of balanced reporting pretty much spot on.

To be fair to the BBC, it wasn't that went mad on BUY BUY BUY property shows... that was channel 4 with Property Ladder and Location, Location, Location and Grand Designs.

At least C4 has it's Autumn schedule sorted with Sarah Beany presenting 'Liquidate your portfolio', Phil and Kirsty doing 'Repossession, Repossession, Repossession' etc etc.

The BBC's line-up will be unchanged with 'Scrabbling around to sell junk in your attic for pennies' and '60 pence makeover'.

Expect Lottery shows to be three time a week when ticket sales boom as desperate punters lob more much-needed cash at it in the hope of winning their way out of trouble.

Oh, and let's not forget Antiques Roadshow, now to be attended purely by house clearance companies wanting to know if an MFI wardrobe and a set of Homebase wall prints are worth anything...

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Originally Posted by menthel

I completely agree and understand that the current financial turmoil has to be reported- fairly and accurately. However, the media seem to share the same joy that certain memebers of our forum hold in the collapse around our ears of the financial system.

The overwhelming smugness with which it is reported on the BBC really annoys me. They really should change their tone. I am not asking them to deny it is happening or paint a rosy picture that is not there BUT to give it the levity and respect it requires, rather than acting like pigs in poop.

Feisty!

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Overwhelming smugness?
I've not seen any of what you claim to be saying. They seem to have done a good job reporting it as far as i'm concerned.
What specificly has been bothering you?

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Originally Posted by Andy3536

Overwhelming smugness?
I've not seen any of what you claim to be saying. They seem to have done a good job reporting it as far as i'm concerned.
What specificly has been bothering you?

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Perhaps we have not been watching or listening to the same things. The tone on R4 and the BBC in general has been, in my opinion very smug and self satisfied. Its almost as if they are loving the fact that the economy is up the swanney.

Don't worry, once this crisis spills over from the financial and insurance sectors to the other sectors, people will cry...most people really don't know what is happening

I have been trying to understand this the best I can.

The way I understand it, a lot of people in banking selling morgages to people who couldn't afford it. Surley they must have known that they were selling mortgages to people who could not pay it back?
I saw the latter half of a program on C4. People were getting big fat bonuses for selling these mortgages. Seems maybe a lot of them didn't care because they knew they would pay off their own mortgages by the time any problems came along what with the bonuses they got.

I'm not sure what it is exactly you are upset about regarding the way this has been reported. For me the news has helped me understand what is happening.

What can you say really? It is, at the end of the day, the banks own fault. No nice way of saying it. Look at how much money banks like HSBC were making.
I feel sorry for people working in these banks who didn't see any of these big bonuses that lost their jobs.
And everyone else really. Because it effects everyone.

I don't really know that much about this, but if what I'm reading about what is going on America is an indication on how bad things can get in the UK, then we really are "pigs in poop."

It looks like things could get a lot worse. :(

Well, most of the reporting that I've been listening to on the subject has been from PM and The Today Programme, and they've been pretty sombre about the whole business. They have been asking hard questions of interviewees about how the whole mess developed and who's responsible, as well as putting them on the spot about how to fix it, but that's their job. I don't think that they've been gloating over it.