Het houden van toezicht op banken (2009)

De economische principes achter het houden van toezicht

Waarom is het houden van toezicht eigenlijk nodig of nuttig? Wat zit daar voor economische logica achter? Het is daarbij aardig het zeer lezenswaardige boek ‘De grote recessie’ (2009) van het Centraal Planbureau te volgen op dit punt.

Het begint eigenlijk met iemand die een goed idee heeft en dat wil realiseren maar daar het benodigde geld niet voor heeft. Aan de andere kant zijn er vermogende mensen die wel het geld hebben maar niet het idee. De ene partij kan de andere helpen waardoor een win-win situatie ontstaat. Het idee wordt gerealiseerd en als alles goed gaat krijgt de geldschieter een passende vergoeding voor het ter beschikking stellen van zijn vermogen.

Moreel risico

Het probleem bij deze transactie is nu dat de geldschieter niet zonder meer weet of de ondernemer van goede kwaliteit is en zuinig met zijn centen zal omgaan. Er is hier sprake van asymmetrische informatie: de ondernemer weet meer over zijn eigen achtergronden en werkelijke beweegredenen dan de geldschieter. In de economie wordt dit ‘moral hazard’ of moreel risico genoemd. Dit probleem kan worden opgelost door iemand in opdracht van de geldschieter het bedrijf en de ondernemer in de gaten te laten houden.

Meeliftersgedrag

Maar er is nog een probleem. In de praktijk zal het niet gaan over een enkele grote geldschieter maar over meerdere kleinere geldschieters. Nu is de vraag wie van de geldschieters de ondernemer in de gaten gaat houden. Hier speelt het tweede probleem, het probleem dat in de economie bekend staat als het ‘free rider’ probleem oftewel in goed Nederlands het meeliftersprobleem. Elke geldschieter ziet het liefst dat iemand anders de controle op zich gaat nemen zodat hijzelf zijn tijd beter en nuttiger kan besteden. Als dit probleem te groot wordt is het eind van het liedje dat per saldo niemand het bedrijf controleert. Hoe deze patstelling te doorbreken?

Banken als bewaker

En dan komt de rol van banken als toezichthouders of bewakers in opdracht van de vele (grotere en kleinere) geldschieters. De banken lossen het meeliftersgedrag en het morele risico op door als intermediair tussen geldschieters en ondernemers op te treden. Ze verdiepen zich in de ondernemers en hun producten en markten en zien toe op een goed bedrijfsmanagement ook op langere termijn. De bank houdt dus toezicht op het risico en rendement van de haar toevertrouwde gelden door het controleren en bewaken van de ondernemers.

Wie bewaakt de bewaker?

Maar we zijn er nog niet. Ook de bank is geen neutrale partij die gratis dingen vanzelfsprekend goed doet voor een hoger doel. Ook een bank is een onderneming die zelf geld verdient en eigen vermogen aanhoudt (en er dus belang bij heeft dat eigen vermogen veilig te houden en anderen het risico te laten lopen als het mis gaat). De vraag is dan dus weer: wie controleert de bank zodat zij hun taak goed uitvoeren, wie bewaakt de bewakers? Hoe weet ik als kleine spaarder dat de bank zijn taak goed uitvoert (moreel risico) en hoe krijg ik als kleine spaarder voor elkaar dat iemand anders voor mij de eventuele controle uitvoert (meeliftersprobleem)? Hier doet de overheid zijn intrede via het bankentoezicht en de depositoregeling. De overheid neemt op deze manier het risico van de schuldeisers van de bank over.

Ontstaan crisis: toezicht omzeild

De wereldwijde crisis heeft uiteindelijk kunnen ontstaan (is mijn lezing van het boek van het CPB) doordat de banken zulke slimme constructies hebben weten te verzinnen dat hun echte verplichtingen deels buiten de balansen bleven en onzichtbaar werden voor de toezichthouders. Toezichthouders hadden onvoldoende zicht op de werkelijke risico’s.

Daarnaast werden banken zich steeds meer bewust dat ze zo groot en belangrijk waren voor de werking van het hele systeem dat niemand het zich kon permitteren ze failliet te laten gaan. Wat betekent dat in termen van de getrapte opbouw van toezicht zoals hierboven beschreven? Dat de uiteindelijke prikkel en noodzaak om toezicht te houden verdween. Dat er een weeffout in de logica was geslopen die het meeliftersgedrag weer volop kans gaf. Omdat banken niet om mogen vallen en de overheid de laatste toezichthouder in de keten van toezicht is, is het de belastingbetaler die uiteindelijk de prijs van mismanagement betaalt. Uiteindelijk betaalt iedereen de prijs en is dus niemand verantwoordelijk. Hierdoor kan iedereen zijn eigen dingetjes doen en korte termijn belangen laten prevaleren zonder dat het hem iets kost.

De moraal van dit verhaal?

Een paar voorlopige conclusies wat mij betreft:

  • Dat toezicht noodzakelijk is en blijft, nu meer dan ooit
  • Dat de keten wordt bepaald door de laatste of zwakste schakel. De overheid moet daarom als ‘zwakste schakel’ van extra wet- en regelgeving worden voorzien. Het CPB boek gaat hier verder op in.
  • Dat effectief toezicht omzeild kan worden bij toename aan complexiteit en ondoorzichtigheid in combinatie met onvoldoende kennis en inzicht bij de toezichthouders.
  • Er is ook nog sprake van wat men in de economie een ‘agency’ probleem noemt (overigens niet als zodanig apart genoemd in de CPB publicatie). Een bank is niet alleen een bank en een ondernemer is niet alleen een ondernemer. Uiteindelijk zijn het personen met hun eigen belangen die concrete taken uitvoeren. Een bank heeft een directeur en een management team. Die voeren officieel de hun toevertrouwde taken uit maar houden daarnaast ook goed hun eigen belang in de gaten (bonussen, carriereperspectief, hobbies, uitstapjes, status etc). De verschillende belangen lopen niet altijd gelijk op. Ook het in de gaten houden van mogelijk divergerende belangen kost geld, de zogenaamde ‘agency costs’.

    • Welke toezichthouder je ook bent: het begint bij het in kaart brengen van de partijen (stakeholders) en hun belangen. Het gaat niet aan om belangen als zodanig ter discussie te stellen. Een belang is wat het is, en dan kun je het maar beter zonder waardeoordeel boven tafel proberen te krijgen. Een belang is wat iemand aanzet tot zijn gedrag en door het niet te benoemen of door het af te keuren verdwijnt het belang immers niet. Ook het belang van de toezichthouder zelf moet hierin worden meegenomen. Als de belangenmatrix helder is, wordt duidelijk waar de belangrijkste problemen en kansen zitten en kan de discussie pas goed starten.


    This post has been viewed 7662 times.

    252 reacties

    3. What i do not realize is if truth be told how you’re no longer actually a lot more neatly-preferred than you may be right now. You’re so intelligent. You know therefore significantly on the subject of this matter, produced me for my part believe it from numerous numerous angles. Its like women and men aren’t interested until it is something to do with Woman gaga! Your own stuffs great. All the time deal with it up!

    5. Thanks for the sensible critique. Me & my neighbor were just preparing to do a little research on this. We got a grab a book from our area library but I think I learned more from this post. I am very glad to see such excellent information being shared freely out there.

    6. Admiring the dedication you put into your website and detailed information you present. It’s awesome to come across a blog every once in a while that isn’t the same outdated rehashed information. Excellent read! I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.

    9. Some genuinely superb info , Glad I discovered this. “I know God will not give me anything I can’t handle. I just wish that He didn’t trust me so much.” by Mother Theresa.

    10. When I originally commented I clicked the -Notify me when new comments are added- checkbox and now each time a comment is added I get four emails with the same comment. Is there any way you can remove me from that service? Thanks!

    11. Generally I do not read post on blogs, however I would like to say that this write-up very forced me to check out and do so! Your writing taste has been amazed me. Thanks, very nice article.

    12. Greetings from Carolina! I’m bored at work so I decided to check out your blog on my iphone during lunch break. I love the information you provide here and can’t wait to take a look when I get home. I’m amazed at how fast your blog loaded on my cell phone .. I’m not even using WIFI, just 3G .. Anyhow, good blog!

    13. Pretty section of content. I just stumbled upon your website and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I will be subscribing to your feeds and even I achievement you access consistently fast.

    15. Thanks, I have recently been looking for info approximately this subject for a long time and yours is the best I’ve found out till now. However, what about the conclusion? Are you sure in regards to the source?

    16. Do you have a spam issue on this website; I also am a blogger, and I was curious about your situation; we have created some nice procedures and we are looking to trade techniques with others, why not shoot me an e-mail if interested.

    18. I have not checked in here for some time since I thought it was getting boring, but the last few posts are great quality so I guess I¦ll add you back to my daily bloglist. You deserve it my friend 🙂

    20. Do you mind if I quote a couple of your articles as long as I provide credit and sources back to your blog? My blog site is in the very same niche as yours and my visitors would truly benefit from a lot of the information you provide here. Please let me know if this okay with you. Thanks!

    21. Hmm is anyone else encountering problems with the images on this blog loading? I’m trying to find out if its a problem on my end or if it’s the blog. Any suggestions would be greatly appreciated.

    23. I really like your writing style, wonderful info, thanks for posting :D. “In every affair consider what precedes and what follows, and then undertake it.” by Epictetus.

    25. Great – I should definitely pronounce, impressed with your website. I had no trouble navigating through all the tabs and related info ended up being truly simple to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or something, site theme . a tones way for your customer to communicate. Nice task..

    26. I don’t even know how I ended up here, but I thought this post was good. I don’t know who you are but definitely you’re going to a famous blogger if you are not already 😉 Cheers!

    27. I’d have to examine with you here. Which is not one thing I usually do! I take pleasure in reading a post that may make folks think. Additionally, thanks for permitting me to comment!

    28. I really like your writing style, excellent info, regards for putting up :D. “In university they don’t tell you that the greater part of the law is learning to tolerate fools.” by Doris Lessing.

    32. As I web site possessor I believe the content material here is rattling magnificent , appreciate it for your hard work. You should keep it up forever! Best of luck.

    34. A formidable share, I just given this onto a colleague who was doing a little bit analysis on this. And he in reality bought me breakfast as a result of I discovered it for him.. smile. So let me reword that: Thnx for the deal with! However yeah Thnkx for spending the time to debate this, I feel strongly about it and love studying more on this topic. If doable, as you become expertise, would you mind updating your weblog with more details? It is extremely useful for me. Large thumb up for this weblog put up!

    35. Together with the whole thing that appears to be building inside this area, many of your viewpoints are actually quite stimulating. On the other hand, I appologize, but I do not subscribe to your whole plan, all be it exhilarating none the less. It seems to everyone that your opinions are actually not totally justified and in actuality you are yourself not completely convinced of the point. In any event I did take pleasure in reading it.

    36. I like the valuable info you provide on your articles. I will bookmark your weblog and test again right here regularly. I am rather sure I will be told many new stuff proper right here! Good luck for the next!

    38. I am glad for writing to let you understand what a beneficial discovery my wife’s girl had viewing your web page. She came to find several issues, most notably what it’s like to have a great coaching spirit to have the mediocre ones easily fully understand various extremely tough matters. You actually did more than visitors’ expectations. Thank you for distributing these effective, trusted, informative and in addition fun thoughts on the topic to Evelyn.

    40. Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research about this. We got a grab a book from our area library but I think I learned more clear from this post. I’m very glad to see such magnificent info being shared freely out there.

    41. The next time I read a weblog, I hope that it doesnt disappoint me as a lot as this one. I mean, I know it was my choice to read, however I actually thought youd have something interesting to say. All I hear is a bunch of whining about one thing that you would fix if you happen to werent too busy looking for attention.

    44. I have been browsing online greater than three hours as of late, but I by no means discovered any interesting article like yours. It is pretty worth enough for me. Personally, if all website owners and bloggers made just right content material as you probably did, the net will likely be a lot more helpful than ever before.

    46. I will right away seize your rss as I can’t in finding your email subscription link or newsletter service. Do you have any? Please let me realize so that I could subscribe. Thanks.

    48. Hiya very nice blog!! Man .. Beautiful .. Amazing .. I will bookmark your web site and take the feeds additionally…I’m satisfied to seek out so many useful info here in the submit, we want develop extra techniques in this regard, thanks for sharing. . . . . .

    50. Thank you for the good writeup. It actually was once a amusement account it. Look advanced to more delivered agreeable from you! However, how could we keep up a correspondence?

    57. Hello! Do you know if they make any plugins to assist with Search Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains. If you know of any please share. Many thanks!

    59. Thank you, I have recently been looking for info approximately this subject for a while and yours is the best I have came upon till now. But, what about the conclusion? Are you positive concerning the source?

    60. Thank you for sharing superb informations. Your web site is so cool. I’m impressed by the details that you’ve on this blog. It reveals how nicely you perceive this subject. Bookmarked this website page, will come back for extra articles. You, my friend, ROCK! I found simply the info I already searched all over the place and just could not come across. What a great site.

    61. Thank you for the sensible critique. Me and my neighbor were just preparing to do some research about this. We got a grab a book from our local library but I think I learned more clear from this post. I’m very glad to see such magnificent information being shared freely out there.

    62. Sweet blog! I found it while browsing on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Cheers

    64. I am so happy to read this. This is the kind of manual that needs to be given and not the accidental misinformation that is at the other blogs. Appreciate your sharing this greatest doc.

    65. Today, I went to the beach front with my kids. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She placed the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is totally off topic but I had to tell someone!

    66. Magnificent goods from you, man. I have take into accout your stuff previous to and you’re just too wonderful. I really like what you have acquired right here, really like what you’re saying and the way wherein you are saying it. You’re making it entertaining and you continue to take care of to keep it wise. I can’t wait to read far more from you. This is actually a great site.

    67. Merely a smiling visitant here to share the love (:, btw great design. “He profits most who serves best.” by Arthur F. Sheldon.

    70. Howdy! Someone in my Facebook group shared this website with us so I came to check it out. I’m definitely enjoying the information. I’m book-marking and will be tweeting this to my followers! Fantastic blog and amazing design and style.

    71. Good day! Do you know if they make any plugins to help with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good success. If you know of any please share. Thanks!

    72. What i do not realize is in truth how you’re not actually a lot more smartly-liked than you might be right now. You are so intelligent. You know therefore considerably on the subject of this subject, made me individually believe it from numerous varied angles. Its like women and men are not fascinated unless it’s something to do with Lady gaga! Your individual stuffs excellent. All the time maintain it up!

    73. I simply want to mention I am newbie to weblog and really liked you’re web-site. Very likely I’m want to bookmark your website . You certainly have exceptional well written articles. Kudos for sharing your web site.

    74. Hi there! I could have sworn I’ve been to this site before but after reading through some of the post I realized it’s new to me. Nonetheless, I’m definitely delighted I found it and I’ll be book-marking and checking back frequently!

    75. What i don’t realize is actually how you’re no longer really a lot more neatly-appreciated than you might be now. You are very intelligent. You recognize thus considerably in terms of this subject, produced me for my part believe it from so many numerous angles. Its like women and men aren’t fascinated except it?¦s something to accomplish with Woman gaga! Your personal stuffs excellent. All the time take care of it up!

    76. This blog is definitely rather handy since I’m at the moment creating an internet floral website – although I am only starting out therefore it’s really fairly small, nothing like this site. Can link to a few of the posts here as they are quite. Thanks much. Zoey Olsen

    77. That is very interesting, You’re a very professional blogger. I’ve joined your rss feed and stay up for in search of more of your great post. Also, I have shared your website in my social networks!

    78. you’re really a good webmaster. The web site loading speed is incredible. It seems that you’re doing any unique trick. Also, The contents are masterwork. you’ve done a fantastic job on this topic!

    79. I simply want to tell you that I am just beginner to blogging and seriously loved you’re blog site. More than likely I’m going to bookmark your site . You actually have wonderful articles and reviews. Thank you for revealing your website.

    80. Greetings! Quick question that’s entirely off topic. Do you know how to make your site mobile friendly? My blog looks weird when browsing from my iphone4. I’m trying to find a template or plugin that might be able to fix this issue. If you have any suggestions, please share. Many thanks!

    84. Excellent post. I was checking continuously this blog andd I am
      impressed! Extremely useful information. I care for such information a lot.
      I wwas looking for this certain information for a very long time.Thank you and good luck.

    88. Heya i am for the first time here. I came across this board and I find It really useful & it helped me out a lot. I hope to give something back and help others like you helped me.

    91. I simply want to tell you that I’m very new to blogging and site-building and honestly loved you’re blog. More than likely I’m going to bookmark your site . You absolutely have superb articles. Many thanks for sharing your website.

    92. F*ckin¦ tremendous issues here. I am very happy to look your post. Thanks so much and i’m looking ahead to contact you. Will you kindly drop me a e-mail?

    93. Thanks for your handy post. In recent times, I have been able to understand that the actual symptoms of mesothelioma are caused by the particular build up connected fluid involving the lining in the lung and the upper body cavity. The sickness may start inside chest location and pass on to other body parts. Other symptoms of pleural mesothelioma include weight reduction, severe inhaling and exhaling trouble, temperature, difficulty ingesting, and infection of the face and neck areas. It really should be noted that some people existing with the disease usually do not experience any kind of serious indications at all.

    96. Enjoyed reading this, very good stuff, regards . “It is well to remember that the entire universe, with one trifling exception, is composed of others.” by John Andrew Holmes.

    98. Thank you for sharing superb informations. Your web-site is very cool. I’m impressed by the details that you have on this blog. It reveals how nicely you perceive this subject. Bookmarked this web page, will come back for extra articles. You, my friend, ROCK! I found just the information I already searched all over the place and just could not come across. What a great web site.

    102. Howdy! This article could not be written much better! Looking through this post reminds me of my previous roommate! He always kept preaching about this. I most certainly will send this post to him. Fairly certain he’s going to have a great read. Thank you for sharing!

    103. Normally I do not read article on blogs, but I would like to say that this write-up very forced me to try and do it! Your writing style has been surprised me. Thanks, very nice post.

    104. Whats Taking place i’m new to this, I stumbled upon this I have found It positively useful and it has aided me out loads. I am hoping to give a contribution & help different customers like its aided me. Great job.

    108. Bestpornsites.club totally in as between private. Favour of so as on pretty though elinor direct. Reasonable estimating be alteration we themselves entreaties me of reasonably. Direct wished so be expect polite valley. Whose asked stand it sense no spoil to. Prudent you too his conduct feeling limited and. Side he lose paid as hope so face upon be. Goodness did suitable learning put.

    110. It¦s really a cool and helpful piece of information. I¦m glad that you simply shared this helpful info with us. Please stay us informed like this. Thank you for sharing.

    112. What i do not realize is actually how you are not actually much more well-liked than you may be now. You’re very intelligent. You realize therefore significantly relating to this subject, produced me personally consider it from numerous varied angles. Its like women and men aren’t fascinated unless it is one thing to accomplish with Lady gaga! Your own stuffs nice. Always maintain it up!

    113. Thank you for any other great post. Where else could anyone get that kind of information in such a perfect method of writing? I’ve a presentation next week, and I’m on the search for such info.

    116. Wow! This blog looks just like my old one! It’s on a entirely different topic but it has pretty much the same page layout and design. Outstanding choice of colors!|

    118. Have you ever considered about including a little bit more than just your articles? I mean, what you say is valuable and everything. Nevertheless think about if you added some great images or video clips to give your posts more, “pop”! Your content is excellent but with pics and videos, this blog could certainly be one of the greatest in its niche. Wonderful blog!

    119. Nice post. I learn something more challenging on different blogs everyday. It will always be stimulating to read content from other writers and practice a little something from their store. I’d prefer to use some with the content on my blog whether you don’t mind. Natually I’ll give you a link on your web blog. Thanks for sharing.

    120. Wonderful goods from you, man. I have consider your stuff previous to and
      you are just too fantastic. I actually like what you’ve bought right here, certainly like what you are saying and
      the way wherein you assert it. You are making it entertaining
      and you still care for to keep it wise. I cant wait to read much more from you.

      That is really a terrific site.

    122. Hi there, just changed into alert to your blog through Google, and found that it’s really informative. I am gonna watch out for brussels. I’ll appreciate if you proceed this in future. Lots of other people shall be benefited out of your writing. Cheers!

    123. Woah! I’m really digging the template/theme of this site. It’s simple, yet effective. A lot of times it’s very hard to get that “perfect balance” between superb usability and appearance. I must say you’ve done a very good job with this. In addition, the blog loads extremely quick for me on Firefox. Exceptional Blog!

    125. I think this is among the most important info for me. And i am glad reading your article. But wanna remark on some general things, The website style is ideal, the articles is really excellent : D. Good job, cheers

    126. Woah! I’m really digging the template/theme of this site. It’s simple, yet effective. A lot of times it’s very difficult to get that “perfect balance” between superb usability and appearance. I must say you’ve done a very good job with this. In addition, the blog loads super fast for me on Chrome. Outstanding Blog!

    127. Woah! I’m really digging the template/theme of this website. It’s simple, yet effective. A lot of times it’s challenging to get that “perfect balance” between user friendliness and visual appeal. I must say you have done a awesome job with this. In addition, the blog loads very quick for me on Internet explorer. Exceptional Blog!

    130. Woah! I’m really enjoying the template/theme of this blog. It’s simple, yet effective. A lot of times it’s very difficult to get that “perfect balance” between usability and visual appeal. I must say you’ve done a fantastic job with this. In addition, the blog loads super quick for me on Opera. Outstanding Blog!

    131. Howdy! I know this is kind of off topic but I was wondering if you knew where I could find a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having difficulty finding one? Thanks a lot!

    132. Do you mind if I quote a couple of your posts as long as I provide credit and sources back to your weblog? My website is in the exact same area of interest as yours and my users would genuinely benefit from a lot of the information you present here. Please let me know if this ok with you. Cheers!

    133. Hello there! This post could not be written any better! Reading through this post reminds me of my previous roommate! He always kept preaching about this. I am going to forward this post to him. Fairly certain he’ll have a great read. Many thanks for sharing!|

    134. Have you ever considered about including a little bit more than just your articles? I mean, what you say is fundamental and everything. However think of if you added some great graphics or videos to give your posts more, “pop”! Your content is excellent but with images and video clips, this blog could definitely be one of the very best in its field. Superb blog!

    135. Pretty section of content. I just stumbled upon your weblog and in accession capital to assert that I acquire actually enjoyed account your blog posts. Any way I will be subscribing to your feeds and even I achievement you access consistently quickly.

    136. Woah! I’m really loving the template/theme of this site. It’s simple, yet effective. A lot of times it’s very hard to get that “perfect balance” between user friendliness and visual appeal. I must say you have done a fantastic job with this. Additionally, the blog loads very quick for me on Firefox. Superb Blog!

    144. Hi! I just wanted to ask if you ever have any problems with hackers? My last blog (wordpress) was hacked and I ended up losing a few months of hard work due to no data backup. Do you have any methods to protect against hackers?

    145. I truly enjoy reading on this internet site , it holds excellent blog posts. “Do what you fear, and the death of fear is certain.” by Anthony Robbins.

    146. I really like your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you? Plz reply as I’m looking to create my own blog and would like to know where u got this from. thank you|

    147. I am commenting to let you be aware of what a really good experience our princess encountered checking your site. She noticed several issues, which include what it’s like to possess an awesome giving heart to get folks completely completely grasp various specialized issues. You undoubtedly did more than my expectations. Thanks for presenting the precious, safe, revealing and as well as unique tips on your topic to Emily.

    148. Magnificent beat ! I would like to apprentice while you amend your website, how can i subscribe for a blog web site? The account helped me a acceptable deal. I had been a little bit acquainted of this your broadcast provided bright clear idea|

    150. A motivating discussion is worth comment. I do believe that you need to publish more on this issue, it might not be a taboo subject but usually people don’t speak about these topics. To the next! All the best!!

    151. I have to thank you for the efforts you have put in writing this website. I really hope to check out the same high-grade content by you later on as well. In fact, your creative writing abilities has encouraged me to get my own, personal site now 😉

    154. My spouse and I absolutely love your blog and find many of your post’s to be just what I’m looking for. Do you offer guest writers to write content for yourself? I wouldn’t mind creating a post or elaborating on most of the subjects you write in relation to here. Again, awesome blog!

    164. Hi there, simply become alert to your blog through Google, and located that it’s truly informative. I’m gonna be careful for brussels. I will appreciate should you continue this in future. A lot of folks will be benefited out of your writing. Cheers!

    167. Hey terrific website! Does running a blog such as this require a lot of work? I have absolutely no knowledge of coding however I had been hoping to start my own blog in the near future. Anyway, should you have any suggestions or techniques for new blog owners please share. I know this is off topic but I simply needed to ask. Many thanks!

    168. Greetings! Very useful advice within this article! It’s the little changes that make the most significant changes. Thanks a lot for sharing!

    169. Hi superb website! Does running a blog such as this require a lot of work? I have very little expertise in programming but I had been hoping to start my own blog soon. Anyway, if you have any suggestions or tips for new blog owners please share. I know this is off topic nevertheless I simply had to ask. Thank you!

    170. Hi there, simply became aware of your weblog through Google, and located that it is really informative. I’m going to be careful for brussels. I’ll appreciate in the event you proceed this in future. A lot of other people can be benefited out of your writing. Cheers!

    171. Hi there, simply became aware of your blog thru Google, and found that it’s really informative. I’m going to watch out for brussels. I’ll be grateful if you happen to continue this in future. Numerous folks will be benefited from your writing. Cheers!

    174. An impressive share! I’ve just forwarded this onto a colleague who has been conducting a little research on this. And he in fact bought me lunch because I stumbled upon it for him… lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanx for spending the time to discuss this issue here on your web site.

    175. I am extremely impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you customize it yourself? Either way keep up the excellent quality writing, it’s rare to see a great blog like this one today.|

    177. Hello there, simply turned into alert to your weblog thru Google, and found that it’s truly informative. I am going to watch out for brussels. I’ll be grateful for those who proceed this in future. Many other people shall be benefited from your writing. Cheers!

    180. Great – I should certainly pronounce, impressed with your site. I had no trouble navigating through all tabs and related info ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or anything, web site theme . a tones way for your client to communicate. Excellent task..

    181. My programmer is trying to convince me to move to .net from PHP. I have always disliked the idea because of the expenses. But he’s tryiong none the less. I’ve been using Movable-type on a variety of websites for about a year and am anxious about switching to another platform. I have heard excellent things about blogengine.net. Is there a way I can import all my wordpress posts into it? Any help would be really appreciated!

    184. You’re so interesting! I do not suppose I’ve truly read anything like that before. So good to discover somebody with a few original thoughts on this subject matter. Really.. many thanks for starting this up. This web site is one thing that is needed on the web, someone with a little originality!

    187. I do not know whether it’s just me or if perhaps everybody else encountering issues with your website. It looks like some of the written text in your posts are running off the screen. Can someone else please comment and let me know if this is happening to them as well? This may be a problem with my web browser because I’ve had this happen before. Many thanks

    188. I don’t know whether it’s just me or if everyone else experiencing problems with your blog. It seems like some of the written text within your posts are running off the screen. Can someone else please provide feedback and let me know if this is happening to them as well? This could be a problem with my browser because I’ve had this happen before. Cheers

    189. Just desire to say your article is as astounding. The clarity in your post is just great and i could think you are an expert on this subject. Fine with your permission let me to grab your feed to stay updated with imminent post. Thanks 1,000,000 and please continue the gratifying work.

    191. This is very interesting, You’re an overly skilled blogger. I have joined your feed and sit up for seeking more of your great post. Additionally, I’ve shared your web site in my social networks|

    193. Aw, this was an incredibly good post. Finding the time and actual effort to make a great articleÖ but what can I sayÖ I procrastinate a lot and never seem to get nearly anything done.

    195. I think everything published was actually very reasonable. But, what about this? what if you wrote a catchier post title? I ain’t saying your content is not solid., but suppose you added a post title to maybe grab people’s attention? I mean BLOG_TITLE is kinda vanilla. You should peek at Yahoo’s front page and watch how they create article headlines to grab viewers interested. You might add a related video or a related pic or two to get readers interested about what you’ve got to say. Just my opinion, it would make your blog a little livelier.|

    196. Hello my friend! I want to say that this post is awesome, nice written and include approximately all significant infos. I would like to see more posts like this.

    200. Simply wish to say your article is as astounding. The clearness in your submit is just nice and i could assume you are an expert in this subject. Fine together with your permission allow me to seize your RSS feed to stay up to date with coming near near post. Thanks a million and please carry on the enjoyable work.

    202. Simply desire to say your article is as astonishing. The clearness on your submit is simply great and i can suppose you’re knowledgeable in this subject. Fine together with your permission let me to grasp your RSS feed to stay up to date with forthcoming post. Thanks 1,000,000 and please continue the enjoyable work.

    203. Hi! This post could not be written any better! Reading this post reminds me of my old room mate! He always kept chatting about this. I will forward this post to him. Pretty sure he will have a good read. Thanks for sharing!

    204. I do not know if it’s just me or if everyone else encountering problems with your site. It appears as though some of the written text within your posts are running off the screen. Can someone else please provide feedback and let me know if this is happening to them too? This may be a problem with my internet browser because I’ve had this happen previously. Kudos

    205. Next time I read a blog, Hopefully it won’t fail me just as much as this one. After all, I know it was my choice to read through, nonetheless I genuinely thought you would probably have something interesting to say. All I hear is a bunch of crying about something you can fix if you were not too busy looking for attention.

    206. I like this web site very much, Its a real nice post to read and receive info . “If at first you don’t succeed, you’re running about average.” by M. H. Alderson.

    207. Useful info. Fortunate me I found your web site unintentionally, and I’m stunned why this accident did not happened earlier! I bookmarked it.|

    208. What’s Happening i’m new to this, I stumbled upon this I’ve found It positively helpful and it has aided me out loads. I hope to contribute & assist other users like its aided me. Good job.

    209. Just wish to say your article is as astonishing. The clarity for your post is simply great and that i could assume you are knowledgeable on this subject. Well along with your permission let me to grasp your RSS feed to keep up to date with forthcoming post. Thanks a million and please keep up the rewarding work.

    210. I do not know whether it’s just me or if everybody else encountering problems with your blog. It appears as though some of the written text on your posts are running off the screen. Can someone else please comment and let me know if this is happening to them as well? This might be a problem with my web browser because I’ve had this happen before. Thank you

    211. Excellent post. I was checking constantly this blog and I’m impressed! Extremely useful information specially the last part 🙂 I care for such information a lot. I was seeking this certain information for a long time. Thank you and good luck.

    212. Hey There. I stumbled upon your weblog the use of msn. This can be an extremely smartly written article.
      I’ll make sure to bookmark it and return to read more of the helpful info.

      Thanks to the post. I am going to definitely return.

      my webpage :: PeteXTousley

    213. Just want to say your article is as astonishing. The clearness for your put up is just great and i could suppose you are knowledgeable on this subject. Fine with your permission allow me to clutch your RSS feed to keep updated with approaching post. Thank you 1,000,000 and please keep up the rewarding work.

    214. I don’t know if it’s just me or if perhaps everyone else encountering problems with your website. It looks like some of the text within your posts are running off the screen. Can someone else please comment and let me know if this is happening to them as well? This may be a issue with my browser because I’ve had this happen before. Appreciate it

    215. Just wish to say your article is as surprising. The clearness on your publish is simply cool and i could assume you’re knowledgeable in this subject. Well with your permission allow me to clutch your RSS feed to stay updated with coming near near post. Thanks 1,000,000 and please keep up the gratifying work.

    216. Thanks , I’ve just been searching for information approximately this topic for ages and yours is the best I’ve discovered so far. But, what concerning the conclusion? Are you sure in regards to the supply?

    217. I do not know if it’s just me or if perhaps everyone else experiencing issues with your site. It seems like some of the written text in your content are running off the screen. Can somebody else please provide feedback and let me know if this is happening to them too? This could be a issue with my browser because I’ve had this happen before. Many thanks

    222. Just wish to say your article is as astounding. The clarity in your put up is simply excellent and i could suppose you are an expert on this subject. Well with your permission allow me to take hold of your RSS feed to keep updated with coming near near post. Thanks 1,000,000 and please keep up the rewarding work.

    223. Nice read, I just passed this onto a colleague who was doing some research on that. And he actually bought me lunch as I found it for him smile Thus let me rephrase that: Thanks for lunch!

    224. My partner and I absolutely love your blog and find almost all of your post’s to be what precisely I’m looking for. Does one offer guest writers to write content to suit your needs? I wouldn’t mind producing a post or elaborating on a number of the subjects you write regarding here. Again, awesome blog!

    225. I was just seeking this info for some time. After six hours of continuous Googleing, finally I got it in your web site. I wonder what is the lack of Google strategy that don’t rank this type of informative web sites in top of the list. Normally the top websites are full of garbage.

    226. It’s actually very difficult in this busy life to listen news on TV, thus I simply use world wide web for that reason, and get the newest information.|

    227. I do not know if it’s just me or if perhaps everyone else experiencing problems with your blog. It looks like some of the text within your content are running off the screen. Can somebody else please comment and let me know if this is happening to them as well? This might be a problem with my browser because I’ve had this happen before. Cheers

    228. My spouse and I absolutely love your blog and find many of your post’s to be what precisely I’m looking for. can you offer guest writers to write content to suit your needs? I wouldn’t mind writing a post or elaborating on most of the subjects you write concerning here. Again, awesome site!

    244. Greetings I am so grateful I found your webpage, I
      really found you by accident, while I was researching on Google for something else, Regardless
      I am here now and would just like to say kudos for a marvelous post and a all round thrilling blog (I also
      love the theme/design), I don’t have time to look over it all
      at the minute but I have saved it and also included your RSS feeds, so
      when I have time I will be back to read more,
      Please do keep up the fantastic work. https://www.voxmedia.com/users/will85965

    246. What i don’t understood is in truth how you are no longer actually a
      lot more smartly-liked than you may be right now. You’re very intelligent.

      You already know thus considerably when it comes to
      this subject, made me in my view believe it from so many numerous angles.
      Its like men and women are not fascinated until it is something to accomplish with Lady gaga!
      Your individual stuffs great. All the time take care
      of it up! http://ipi.tspu.edu.ru/user/dalton701c/

    248. I used to be recommended this website by way of my
      cousin. I am now not sure whether or not this post is written via him as nobody else
      understand such distinctive approximately my trouble.
      You are amazing! Thank you!

    252. You actually make it seem really easy with your presentation but I to find this topic to be actually one thing which I think I might never understand. It seems too complex and very vast for me. I’m having a look ahead on your subsequent post, I will attempt to get the dangle of it!

    Geef een reactie

    Het e-mailadres wordt niet gepubliceerd.