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grey_man

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grey_man last won the day on October 21

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About grey_man

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    Newcastle under Lyme
  1. Green Belt Under Threat - Areal View

    It's not Hitler. And finally... 7. Have the last word.
  2. Green Belt Under Threat - Areal View

    No worries. It's been a trip. So, just to summarise what I've learned about you. 1. Call somebody a liar. 2. Tell other people you haven't invited them to comment. 3. Ignore straightforward facts. 4. Lie about what somebody else has said. 5. Say it was all a wind up. 6. Project your own insecurities. So cheers. An education for me.
  3. Green Belt Under Threat - Areal View

    So, having made a complete tit of yourself, you fall back on the 'wind up' option. Laughable. Keep proving my point for me.
  4. Green Belt Under Threat - Areal View

    1. I did paste that bit 2. The report specifically singles out Warrington for its exposure to risk. But anyway, you keep proving my point for me.
  5. Green Belt Under Threat - Areal View

    Risk isn't a measure of what's happened in the past. But anyway, you keep on proving my point for me.
  6. Green Belt Under Threat - Areal View

    QED. Proving my point for me now and disproving your own argument that you accept facts. Was it downgraded by two points because of the risk it has been taking? According to the people who downgraded it, yes. It's right there. In front of you. Black and white. Under your nose. "Does it still have an A1 rating"? It doesn't 'still' have anything, seeing as it's just been changed to a lower rating. The fact is that the Icelandic banks were far less risky than a start up. Investing in startups is notoriously risky. I know that's another fact you won't like, but there you go. So, I'll ask you again. Who is making the decisions about this risk and who is actually taking on the risk?
  7. Green Belt Under Threat - Areal View

    You know that it's been downgraded by two places because of the risks they are taking though don't you? I know you're not mad on facts being offered you that challenge your opinions, so go look it up for yourself, not that you've shown any signs yet that it will change your mind. Anyway, this is what they said, singling out Warrington in a way they didn't any other town. RATIONALE FOR TWO NOTCH DOWNGRADE ON WARRINGTON BOROUGH COUNCIL The two notch downgrade of Warrington Borough Council (Warrington) from Aa2 to A1 reflects (1) the pressures discussed above for all UK local authorities, and (2) the relative position of Warrington compared to other rated local authorities in terms of risk appetite and projected increased debt burden. Warrington's capital investment programme demonstrates a higher risk appetite relative to peers. In addition to traditional town centre infrastructure improvements, the programme includes investing in a new "challenger" bank, launching a Housing Company, and on-lending to housing associations, introducing riskier elements to the local authority's credit profile. Warrington plans to fund this capital programme mainly through debt, which would lead to a projected quadrupling of debt to revenues over the next three years, from 103% in 2016 to a forecast 436% in 2019. Now ask yourself, who is taking the decisions about risk, and who is actually at risk?
  8. Green Belt Under Threat - Areal View

    I'll bear it in mind just before redirecting you to a source of information.
  9. Green Belt Under Threat - Areal View

    And yet strangely none the wiser....
  10. Green Belt Under Threat - Areal View

    Neither have I. I've already told you what I do. I don't know whether the bank is failing or not as I keep saying. But it's an insane punt with public money, especially right now. That is why I won't call out anybody on it. If somebody declares that it's a failed investment, there's an extremely good chance they will be right. But if they were to announce that the Birchwood purchase had failed, I'd call them on it because it's far too early to say and that would be bullshit. As for wanting this and other investments to fail, why would I? There is a real risk that WBC is putting at risk the finances of the town for many years if it goes bankrupt as a result. I also suspect that if the ROI fails to materialise as it expects, it will be paying more in interest than it receives on some of the money it has borrowed, which will affect services in the short term. If they get this wrong, my grandchildren will be paying for it, never mind my kids.
  11. Green Belt Under Threat - Areal View

    No. We know those things. Have those bodies expressed horror at what councils are up to with PWLB loans and drawn up plans to prevent them doing so in future? Yes. Has Moody's downgraded the council's credit rating? Yes. Is that the average success/failure rate for financial startups? Yes. But I can see cognitive dissonance has set in with you now, so I won't be wasting much more time on it. Out of interest, do you work for the council? And finally, can you lend me a thousand quid to stick on a horse at 6/4 today?
  12. Green Belt Under Threat - Areal View

    Yes. A start up in the financial services sector has a survival rate of 58 percent over the first four years. Fact The PAC, Treasury etc have all expressed horror at what councils are doing with PWLB loans and are looking to close them down in the next budget. Fact. Moody's has downgraded the council's credit rating by two places because of these investments. Fact.
  13. Green Belt Under Threat - Areal View

    I do know something about it though. All I've admitted is I don't know if it's already failed. I know its chances of survival aren't good. I also know councils shouldn't be touching investments like this with a barge pole and the Public Accounts Committee, Treasury, Cabinet Office, Moody's and a number of investment experts agree with me.
  14. Green Belt Under Threat - Areal View

    I don't know. I'm not speaking on behalf of anybody else. You've misused filibuster. More like droning on.
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