Ordinary people will pay for the mistakes of the Government and the bankers

[MrJazzaman1]

fucking judas.............should be strung up!

[MeChelMyBelle]

They make those not in power payfor everything~ EVERYWHERE. They're even making the poor Japanese pay for the mistakes of that stupid power co. :) Gotta love the wording in the proposals "The Government will pay" SHIT! That only means the PEOPLE will pay~ because who pays the Gov?! It's all BS!

"Governments have no relation to morals." *Machiavelli If you think they give a fuck about u... keep loving them!

[SpatialRiftUK]

*sigh* I had such high hopes...

[greedycrook]

See Alex Jones film The Obama Deception on YouTube for real reasons behind financial meltdown.

[MnemonicCarrier]

Nick Clegg has caused irreparable damage to his party. For the sake of self preservation and damage control, the Lib Dems need to oust Nick Clegg and replace him with someone who isn't so two-faced. Show the country that "Lib Dems" and "integrity" are not mutually exclusive.

[LeftWingJohn]

Voting FibDem is like unknowingly going to bed with a transexual and ending up with cock up your arse

[galatura]

Clegg, you liar., you bastard !

[hipstarchild]

ALL Politicians are Liars.

Never trust

Never vote

The conduit is closing.

The governments will fall.

Freedom for the people of the world.

2013

[kultphrase]

Lib Dems - you are the joke of parliament and the worst liars of them all. Not sure how well you will do in the next election?

[opinionater]

Yep Nick! Ordinary people will pay for the mistakes of the Government and the bankers because your going to make sure they do to keep you in a taxpayer funded limousine along with your Tory and banking friends.

[nuggert]

yeah tax cuts - people have more money, buy more, more people earn money, economy rises, blah blah blah...then the SAME FUCKING PROBLEM COMES AFTER 4 years of having " Liberals"

then they will be like ... no no no in 4 years and say that we have to be conservative and should vote for the conservative party, so the country can earn a lot of money as a whole.

[dreamcast98]

Yes Nick Clegg is right saying this is nothing new, throughout history various crises, collapses etc but why is the economy itself never questioned? The way money is used now is utterly corrupt and has corrupted our ways of thinking. Why is nobody in politics anywhere has thought hmm here we have an economy where we keep on seeing booms and busts/recessions, why cant global leaders devise a new economic system? For as long as we stay in a monetary system,this economic cycle will never end

[donjorge22]

@dreamcast98 Haha! Yes! How people have faith in a monetary system that's not underpinned by anything (the amount of money in circulation vastly outstrips the gold that it's meant to represent) is quite beyond me.

An economic system that works is one that is founded at a very local level - so that people aren't dependent economies far away run by people they've never met.

[herbiemann]

His half-Russian father, Nicholas, was a banker, and is chairman of The Daiwa Anglo-Japanese Foundation..... Nicky's gonna be grounded if he's not carefull!

[Mickmars90]

Nobody forced ''ordinary people'' to take on too much debt. The fucking idiots decided to do that themselves, so I don't have any sympathy for the morons. Serves them right for living beyond their means. It's time for a little Thatcherite austerity again.

[NOTAdemocracy]

Actually banks in America were forced to lend money for Sub Prime Mortgages by law. It was 'discriminatory' not to lend to poorer people as they were 'entitled' to own their own home. Goes back to FDR, notwithstanding the fact that without people coming in at the bottom of the property ladder the whole house of cards would have collapsed several years ago. Many of the Sub Prime borrowers got to live in a new house for 2 years & often refinanced getting $60k cash and NEVER made a single payment.

[Mickmars90]

I never said government didn't force banks to lend, I said the people weren't forced to borrow.

As a free market libertarian, I despise government intervention. It is fascist corporatism in the vein of Hitler and Mussolini.

[chrislebensmother]

Its no excuse for poor people taking on debt but the Media and Finance Companies bombarded them daily with cheap easy credit and many of them must have thought it was a good idea because people smarter than them were offering it. It was all a scam to multiply debt forty fold so Goldman Sachs could bring the World to its knees whilst they profit. America knows its in trouble and it decided to drag everyone else down buying time and coming out on top. Free Markets would have stopped all this.

[RobDeManc]

The banks have been completely irresponsible over the past 20 or so years. They have been literally throwing credit out to the masses. Hardly what you could call sensible lending. I have lost count of all the letters from my bank telling me that a loan is just sat at the bank "waiting" for me to sign for it!

[NOTAdemocracy]

Why does Vince Cable and Nick Clegg never mention the 'FIAT' Paper Money Keynsian System that IS the Economics of Boom and Bust? Austrian School of Economics predicts every facet of the Credit Crunch - it was engineered of purpose by Goldman Sachs etc. They should be talking about canceling ALL of the Debt as part and parcel of Bailing Out Banks - we all start with a clean slate. Bankers should have to put up their personal wealth like Lloyds of London members do. That will keep them honest.

[Thehides]

Its time the United Kindom removed the shackles of tradtion such as conservative and labour. The liberal democrats ate the way forward and want to lock after the PEOPLE not the PERSON!

[thatcheritescot]

i dont like the lib dems...... but there are some merrits in what nick cleg says in this video

[BlastFurnaceCanada]

If I was living in the UK (and as a citizen of a Commonweath country, could vote), the LDs would be my first choice in considering how to cast my ballot. Labour and the Cons keep dishing out significant amounts of nothing. Clegg is a voice of reason compared to Brown and Cameron.

[basch2020]

No, No, No!! Cleggy's got this all wrong. Banker's are clearly not to blame for the financial crisis, it's the consumers who conned the banks into getting their loans which they never had any intention of paying back. I'm strictly for the repossession of the banks assets from these fraudulent conmen, it's a much more reasonable solution than forcing the general population to finance consumer greed.

[ManlySlut]

The Banks are supposed to make it so shit like this doesn't happen. They knew this would happen, they let it. They failed, and we're paying for it.

[basch2020]

Says who? A banks only responsibility is to ensure that their shareholders are satisfied, and due to high dividend payments, its safe to say they accomplished this.

The mess began when INDIVIDUALS failed to make agreed loan repayments. And to remedy this the government decided to throw tax money at them?!

Why am I being forced to pay for Mr Smiths new house or Mr Jones new car just because the goverment dont want the banks reclaiming THEIR assets, this is supposed to be a democracy!

[ManlySlut]

Okay, they're incharge of the money. They make their money and it's their duty to make sure the money is stable, as it is of course more beneficial to them.

The problem to be honest started with the loans in the first place. Why they loan so much money and expect people to pay back more is just ridiculous.

[basch2020]

If an individual comes up to you and says: "give me £10 today and I'll give you £20 tomorrow" and then they promise to keep thier end in the bargain by putting up their house as collateral you'd take it wouldn't you? My point is the banks have reacted perfectly rationally.

Individuals are free to enter business with the banks and they show approval of loan terms by taking them out, the fact that they refused to uphold their contractual terms is their fault NOT MINE.

[Erech01]

Yes, it was the comsumer who was making the risky withdrawl however it WAS the banks that let it get out of hand, giving money to people who could not obviously pay it back, the regulation on the banks was the problem.

[basch2020]

That's the most ridiculous statement I've ever read. If you condemn bank actions then in principle you must also condemn victims of theft because they "let it happen".

1) Individual consumers had a contract. 2) They broke this contract. 3) Clegg wants to make the taxpayer responsible. It's un-democratic, un-liberal and non-sensical. In fact it's the exact kind of thing Stalin would say.

[Erech01]

'If you condemn bank actions then in principle you must also condemn victims of theft because they "let it happen".'

No its the banks fault, they should not have lent money to thoses who cannot pay it back.

'wants to make the taxpayer responsible'

No he doesnt.

[basch2020]

Both the Bankers and the Consumers entered a unilateral contract. Bankers agreed to lend consumers money because consumers agreed to pay it back with interest. When consumers breached this contract, the government did not allow the bankers to reclaim their money via repossession (effectively legalising theft). Because of this, many banks profit's were hit and were in danger of going bankrupt. To keep them above board, the government decided to forcibly buy shares in banks using taxpayers money.

[basch2020]

In hindsight, it is the taxpayers money from the bailout that was 'given' to the contract breaching consumers so that they do have to repay their loans which they agreed to pay back. And Clegg wants to use further taxpayer funds to help 'the ordinary people' who are largely the consumers who were let off the hook the first time round.

[Erech01]

'Both the Bankers and the Consumers entered a unilateral contract. Bankers agreed to lend consumers money because consumers agreed to pay it back with interest.'

Yes, but it would have been clear to anyone in the treasury that the banks were giving money to people who could NOT pay it back, the banks are supposed to be run so they arnt just giving people money for it to be written off later.

[Erech01]

It should be the people who borrowed the money and COULD payit back and were paying it back who are suffering most cause of this and those responcible people that should be protected NOT the banks.

[basch2020]

If the government allowed banks to reclaim their finances plus interest from the consumers who agreed to do so but did not, then £500bil wouldnt have been wasted on a bailout.

The government is now claiming this bailout is a shareholding. Meaning, the governments refusal to allow banks to reclaim their property the legitimate way has meant banks have been taken-over. You say they've been protected but this is quite untrue.

[EvgenyF86]

erech, it wasn't clear. that's how it all happens. we dont know. please, stop making up!

[Ilikenuman]

your argument suggests that everybody was using the same banks and taking the same stupid actions.

[LoopyPC]

Opps, I forgotten about new features... Blame me! :)

[LoopyPC]

lalalalalalalalalalalalalalala­lalalalalalalalalalalalalalala­lalalalalalalalalalalalalalala NO SUBTITLES!!!!!! Removed Lib-Democrats from my list!!!!

[pinkdogster]

I have subtitles here. Click on the upward arrow in the bottom right corner and then select CC. Lots of subtitles then appear :-)

[AussietheAustralian]

Freedom is an illusion.

Governments will be easy to control when the NWO arrives. Governments all over the World run pretty much the same way. Even Muslim countries have their own Government based on Western Governments procedures, they just incorporate their Religious laws and beliefs into them.

Everything was set up and designed for a reason. Everything has a purpose. The plan is almost complete.

Submit or die.

[AussietheAustralian]

Has anyone ever seriously thought about how Governments came to be in our lives. It's like they just popped out of nowhere and restricted our freedom by controlling us all with THEIR 'laws' and continue to do so to this very day.

Some guy was probably sitting down one day smoking his tobacco pipe and thought to himself...HMMM, i might see if i can control the World and influence people's livelyhood.

Self-appointed power to control the population.

[Buddiehollie]

I feel ashamed to have voted labout in 97 but I alwasys was a labour man upto then all my life but this new so called labour is something else evil!!! I dont want to be a part of the devils work and proud to have voted Liberal the last few years the only party with common sense. Thier policies are the only ones that make sense to me unlike Labours stupid id cards, national database (how many times have they lost our data) etc etc and as for the tories well they dont have a clue what people want.

[stropsomsoc100]

（´・ω・｀）

[consettgashead]

In this economic crisis it's only the Lib Dems that have consistently talked sense - and seem bothered about ordinary people.

[daniehsan]

Nick Clegg - a voice of reason.

[realzoomy]

And the Damian Green affair was an utter disgrace. I am glad someone mentioned the way John Hemming was treated, in a similar way, just for doing his work as an MP. It is sickening seeing some of those NuNazi politicians trying to defend the use of anti terrorism measures in Parliamentary affairs - bang goes the last shred of democracy if they get away with this. Good to see not all Labour MP's have supported their party on this. And we general public are interested in this debate!

[realzoomy]

I hate this New Labour government because they have allowed a government consultation paper on children's law to be influenced by a pedophile.

I've exchanged letters with Prentice and Straw, they all know what has happened, evidence from their own documents, and they just don't care.

This government is the most wicked government I have ever known - it is even worse than the Thatcher government - at least she did not knowingly sanction the work of a pedophile!

[stevenmccaw]

The Lib dens are proving to be more in touch and more relevant than any other party today.

The governements attempt to sweeten us with a VAT reduction is a sham, designed to be a stealth increase on VAT in the longer term.

Reducing interest rates is great, but it has not helped me on my fixed rate mortgage at 7%. Millions are in the same boat as me, and will be unable to spend for some time due to a reduction in my busiess turnover with the current difficulties in the construction market.

[JuanKerr67]

The crunch was caused by excessive borrowing. Brown's solution? Encourage more borrowing! Well done, Nick. Let's get some imagination and talent back into government.

[scattyuk]

I think the confusion comes from the fact that he didn't really make explicit how the whole proposed tax changes would work.  That's my one problem with this; it needed more information to convince people the LD proposals could work.

[fabul0s0e]

a great response to the credit crunch - that things need to change fundamentally - serious tax cuts for everyone. I agree.

[leonbob2001]

The situation and the proposed solutions are not perfect, but we have to start somewhere.

[eyupwolf]

Not the greatest video, but not a bad policy at all, focusing on tax cuts for real people while the others won't shut up about banks is a good idea.

[lelvish1]

Good video! Probably the best one Nick Clegg had done so far actually. Im certainly voting Liberal in 2009. Keep up the good work guys!

[aaaak4]

populist propaganda. simple as that

[Ilikenuman]

doing what the people want them to do? i cant see why that is a problem

[athy0]

Propaganda is the correct word. Tax cuts for the working class... or anything to get elected.

[stevenmccaw]

you always get one.... What the Lib Dems are suggesting overall seems to be a fair governement by the people and for the people. Something the other parties seem to have forgotten.

I have never voted Lib dems, but I will be this time.

[TheDefunktPistol]

Nick Clegg needs David Axlrod from the Obama campaign.

[ndpthinkinguk]

Cutting taxes for the real people is a great policy choice but what has this to do with the banking/financial crisis? How should the banks and other financial institutions "pay" themselves (instead of being bailed out) as the leader of the LibDems suggests? In what specific way?

[h8bigbro]

By cutting taxes for ordinary people, you are countering the recession, which after all is caused by a fall in demand due to crippled consumer confidence. With more money in people's pockets, they can get things started again and bring us some economic stability. Like the chip shop owner in this video said- people need the money.

[ndpthinkinguk]

that is fine, but how is that related to the "mistakes" of the bankers and to having them "pay" for those mistakes, as argued in the beginning of the video? Seems to me like unrelated issues packed together and that is a tad confusing.