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Roffey - a new low?

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Super Contributor
Simon - if you ever come into contact with this soul - please tell the good Doctor that the word bankruptcy does not have its roots in the English word "bank" per se but rather relates to the merchant's bench or table (Bancus is Latin for "table".). Banks are named for a different, and distinctive bench that they, in turn, used to transact their business. For him to go on national TV and "make it up as he goes along" is not on.
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Super Contributor
Interesting. I see this other lot has a slightly different take on it, focusing on breaking the table of the merchant in a marketplace:
http://www.bankruptcylawnetwork.com/origin-of-the-word-bankruptcy/

Sadly much of the internet is impossible to use as an authoritative source, since half the pages will just copy from other sites. Whichever, it's certainly not what His Roffness was supposedly saying.
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Super Contributor
That's not a different take on it. I just saw no reason to go into more detail. It is derived from the Latin: bancus (bench/counter) + rupt (break) + cy (English suffix indicating a condition or "state of being")
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Super Contributor
Well you could be wrong. Bank and Bankruptcy are indeed linked word that originated in from the same work = bench. The word "bank" is commonly regarded as derived from the Italian word banco, a bench - the Jews in Lombardy having benches in the market-place for the exchange of money and bills. When a banker failed, his bench was broken by the populace; and from this circumstance we have our word bankrupt Read more: http://chestofbooks.com/finance/banking/Banking-Credits-And-Finance/Origin-Of-The-Word-Bank.html#ixz...
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Super Contributor
Well - if you read carefully - I have said as much. Merchant's (includes banker) bench in general for bankruptcy. Bankers bench for bank. The point is the "Bank" in "bank"ruptcy is not derived directly from the English Term Bank!
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Super Contributor
Sure... anyway in real life global banks are responsible for most bankruptency of people / biz / nations. Global Banks over borrowed to people / biz / nations in turn these become SLAVES to the Banking system. And if you haven't realise - all of this is "part of a GLOBAL MASTER PLAN".
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Super Contributor
A master plan to what - lose money? It is just plain greed and the pursuit of profit. I would point out though, that the liberal governments started this (although they would like to blame those evil capitalist bankers and their conservative investors.) There has been a worldwide move to force institutions to lend to the masses. America's policy re home ownership after the "Watts Riots" is a case in point. Banks that are compelled to lend money to uncreditworthy borrowers will do what banks do - they find a way to offload all of this junk debt. Bill Clinton took to this to a new level and introduced policies that compelled banks to lend according to a "profile schedule." This gave birth to the CDO's, CDS;s (SDO's) that were implicated in the market collapse of 2008. The problem her is: how far can we stretch the "capitalism toffee" to feed the "socialist agenda" before it snaps. I rather wish there was a master plan. I fear it's every man for himself.
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Super Contributor
Much much more than profits... All about "CONTROL" Debt = modern slavery (just asks the Greeks)
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Regular Contributor
I agree the good doctor comes across as a pompus know all!
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Super Contributor
The banks don't want control - they want profit. Why would they want to enslave you? Sure - between them the various financial institutions want you to sign a life policy, an insurance policy, borrow (AND pay it back.) In short, to work for them. BUT ask yourself this - who designed a tax system that encourages the channeling of money into these various instruments to benefit from putative tax breaks etc. - why it's your friendly government. Governments ARE there to control people! It's their function. (John Locke arguments aside for the moment.) Don't be mistaken - there is no love lost between me and the banks. I just feel that the governments of the world are now using them as a scapegoat for their own failed policies. You could just as easily hate the oil companies, the mega global trading comapanies (DREYFUSS, GLENCORE etc.) They are also hurting us. BUT the only conspiracy is capitalism AND if you look at the shining examples set by the communists and the socialists it seems to me that it's the best conspiracy to fall prey to.
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Super Contributor
The banks don't want control - they want profit. Why would they want to enslave you? Sure - between them the various financial institutions want you to sign a life policy, an insurance policy, borrow (AND pay it back.) In short, to work for them. BUT ask yourself this - who designed a tax system that encourages the channeling of money into these various instruments to benefit from putative tax breaks etc. - why it's your friendly government. Governments ARE there to control people! It's their function. (John Locke arguments aside for the moment.) Don't be mistaken - there is no love lost between me and the banks. I just feel that the governments of the world are now using them as a scapegoat for their own failed policies. You could just as easily hate the oil companies, the mega global trading comapanies (DREYFUSS, GLENCORE etc.) They are also hurting us. BUT the only conspiracy is capitalism AND if you look at the shining examples set by the communists and the socialists it seems to me that it's the best conspiracy to fall prey to.
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Super Contributor
give a man a gun and he can rob a bank
give a man a bank ...and he can rob the world ;)
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Super Contributor
Don't know what debate is all about. Banks are like any business. If they want to control anything, it is only their market = more profit. But, like any business they operate in a regulatory framework and if the govt. says do x you don't do y cause they hold the levers man. So now, you have made loans that you would not ordinarily have done and like any good trader, must somehow contain the risk hence, as THRESH says, they made a plan. How the "plan/s" where marketed is a different matter and the reason imo they are being buffetted from all sides never mind the mind boggling bonuses that were paid to sell these plans. Nevertheless these plans were pretty creative.
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Contributor
personaly I much prefer to listen to the old docter. Atleast he has researched before he speaks and when he does he makes his point within his time frame and then goes home quitely. Much rather him than some of the windbags around the place and those expert at harping on a tune.
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