Tweet from Ian Fraser: “The English Courts might not always be the best placed to adjudicate on disputes which arose in the context of the derivatives market. “
5 thoughts on “Tweet from Ian Fraser: “The English Courts might not always be the best placed to adjudicate on disputes which arose in the context of the derivatives market. “”
Liz Nelson
For the Attention of Max Keiser,
Do you know about the” Bank of Dave” from Burnley UK? David Fishwick has set up his own bank in Burnley, Lancashire England and he is lending to small and medium sized businesses in the area, he also is taking in deposits from savers offering 5% interest and the profit he makes, he gives back personally to the local charities in Burnley- a true inspiration.
A documentary has just finished on Chanel 4 and has been on for one hour for the past three weeks. If you have not already seen it , I am sure you will be interested. He is waging war against the banks and wants others to copy him Nation wide and help businesses. He has driven a mobile bank down to London and Vince Cable sat in his bank and offered to help him get approval from the FSA, who will not even meet Dave and are totally disinterested in him. His bank has already made a profit and his customers have paid him back for their loans.
I have watched your show for years and have hardly ever missed an episode and I think if you were interested it would be great to invite Dave onto your show. He is totally inspiring and intsead of many people who just talk about ideas he is working really hard to change the banking system I think your listeners would be really interested.
I hope you receive my message
Keep up the great work,
Kind Regards
I’ve watched Bank.of Dave,whilst he’s inspiring his aims afe more akin to.a buildkng society or a credit.union,both ideas Dave Fishwick.has refused.
I don’t know nothing about banking, there are good ethical.banks in the UK e.g. The Co-operative Bank based in.Manchester, it has just about to.take over nearly 700 branches from Lloyds.
Derivatives are effectively a gamblingd debt. which until recently was unenforceable at law. But now that the racketeers are drafting the laws, we can expect anything. Gambling is an addiction, a gamblaholic does not know when to stop! a Casino can do an instant credit check, and loan the sucker sufficient money to make sure he ends up homeless on the street. Very sad if close family suffer as well. Nick Leeson who single-handedly broke Garings Bank, was not the only rogue trader at the time. The press reported at the time, that his compulsive risk taking represented only the tip of a much larger systemic iceberg. Manyana, manyana, tomorrow never comes and a loan repayment is tomorrow’s problem.
Gambling Debts Now Enforceable in U.K.
Britain’s Gambling Act of 2005 — which comes into effect this year — has garnered a lot of attention. But one aspect of the new law hasn’t gotten much play, according to Carl Rohsler of London’s Hammonds. It’s the sentence in the act that says, “the fact that a contract relates to gambling shall not affect its enforcement.”
That sweeping statement, says Rohsler, “wipes out over 200 years of precedent . . . not only in the UK but also in most common law jurisdictions around the world, that gambling contracts are debts of honour only.” Gambling houses that once had to demand that gamblers cough up the cash in advance (because they could not collect the debts in court) can now lend money to gamblers and collect their debts in the usual way. Rohsler’s comments on this development are here. A more general introduction to the Act, by Paul Renney of London’s Campbell Hooper, is here. (Free registration required for each.)
Liz Nelson – yeah Max has spoken about it; we have to wait and see how that pans out. The ruling class of the uk would prefer we just die, they hate the working class and under class – their chosen method is to ignor. But a fascinating thing has just happened: the Americans are litterally humiliating the UK ruling establishment – emails flying out everywhere; select committee show downs of embarrassment. Sit back and warm your hands over the red faced nobs getting a skake down. BTW if Dave has to join the FSA make sure he knows so, otherwise he is acting illegally and they will shut him down.
—
You only have to look at the news on ISDA’s website to see how they are focused on the legal articulation to bring ever more complexity which will perplex the understanding of a jury. We the people need to assert that it is not exceptable to try to hide behind complex financial and legal word articulations to thawt justice. Complexity to confuse needs to be banned. We need to focus on the out come of a process. Do CDO / CDS cause vast harm? yes or no, if yes=ban.
h
For the Attention of Max Keiser,
Do you know about the” Bank of Dave” from Burnley UK? David Fishwick has set up his own bank in Burnley, Lancashire England and he is lending to small and medium sized businesses in the area, he also is taking in deposits from savers offering 5% interest and the profit he makes, he gives back personally to the local charities in Burnley- a true inspiration.
A documentary has just finished on Chanel 4 and has been on for one hour for the past three weeks. If you have not already seen it , I am sure you will be interested. He is waging war against the banks and wants others to copy him Nation wide and help businesses. He has driven a mobile bank down to London and Vince Cable sat in his bank and offered to help him get approval from the FSA, who will not even meet Dave and are totally disinterested in him. His bank has already made a profit and his customers have paid him back for their loans.
I have watched your show for years and have hardly ever missed an episode and I think if you were interested it would be great to invite Dave onto your show. He is totally inspiring and intsead of many people who just talk about ideas he is working really hard to change the banking system I think your listeners would be really interested.
I hope you receive my message
Keep up the great work,
Kind Regards
Liz Nelson.
I’ve watched Bank.of Dave,whilst he’s inspiring his aims afe more akin to.a buildkng society or a credit.union,both ideas Dave Fishwick.has refused.
I don’t know nothing about banking, there are good ethical.banks in the UK e.g. The Co-operative Bank based in.Manchester, it has just about to.take over nearly 700 branches from Lloyds.
Derivatives are effectively a gamblingd debt. which until recently was unenforceable at law. But now that the racketeers are drafting the laws, we can expect anything. Gambling is an addiction, a gamblaholic does not know when to stop! a Casino can do an instant credit check, and loan the sucker sufficient money to make sure he ends up homeless on the street. Very sad if close family suffer as well. Nick Leeson who single-handedly broke Garings Bank, was not the only rogue trader at the time. The press reported at the time, that his compulsive risk taking represented only the tip of a much larger systemic iceberg. Manyana, manyana, tomorrow never comes and a loan repayment is tomorrow’s problem.
Gambling Debts Now Enforceable in U.K.
Britain’s Gambling Act of 2005 — which comes into effect this year — has garnered a lot of attention. But one aspect of the new law hasn’t gotten much play, according to Carl Rohsler of London’s Hammonds. It’s the sentence in the act that says, “the fact that a contract relates to gambling shall not affect its enforcement.”
That sweeping statement, says Rohsler, “wipes out over 200 years of precedent . . . not only in the UK but also in most common law jurisdictions around the world, that gambling contracts are debts of honour only.” Gambling houses that once had to demand that gamblers cough up the cash in advance (because they could not collect the debts in court) can now lend money to gamblers and collect their debts in the usual way. Rohsler’s comments on this development are here. A more general introduction to the Act, by Paul Renney of London’s Campbell Hooper, is here. (Free registration required for each.)
Here is the link:- http://lawprofessors.typepad.com/contractsprof_blog/2007/09/gambling-debts-.html
Liz Nelson – yeah Max has spoken about it; we have to wait and see how that pans out. The ruling class of the uk would prefer we just die, they hate the working class and under class – their chosen method is to ignor. But a fascinating thing has just happened: the Americans are litterally humiliating the UK ruling establishment – emails flying out everywhere; select committee show downs of embarrassment. Sit back and warm your hands over the red faced nobs getting a skake down. BTW if Dave has to join the FSA make sure he knows so, otherwise he is acting illegally and they will shut him down.
—
You only have to look at the news on ISDA’s website to see how they are focused on the legal articulation to bring ever more complexity which will perplex the understanding of a jury. We the people need to assert that it is not exceptable to try to hide behind complex financial and legal word articulations to thawt justice. Complexity to confuse needs to be banned. We need to focus on the out come of a process. Do CDO / CDS cause vast harm? yes or no, if yes=ban.