Let's dispel this media myth! Banks aren't suffering they aren't victims!!!! The fat cats who run the banks are sat in their comfy little offices, seriously overpaid and wealthy!
The victims/sufferers are you and I, paying through higher interest payments, higher inflation etc.
People are having to pay more for food and yet Tesco's made billion income boosting massive profits! The energy companies are boasting massive profits but energy costs are up 25%!
Do I feel sorry for them? No! I feel angry that this "get rich" system of massive bonuses, lining the pockets of the already wealthy has been allowed to conitue so much that it's now have an impact on Joe Bloggs!
NO I do not feel sorry for them
For many year the fatcats have had £1million bonus paid every year, it is just adjustment times IMO at the moment.............and there will be a lot more (IMO) banking / stock traders out of work before they have finished...............
the banks have been behaving badly for over %100 so people can get a house and offering loans on top of outstanding credit cards etc.
Did they not think that people would struggle to pay all this back?.
They all offer crazy deals which seem attractive and the bank management run the companies as if they were giving out sweets.
Then when it all goes belly up the top brass walk away with a large payout while people lose jobs,have homes taken and this drives familys apart with some even committing suicide.
For years the banks have gambled with our savings and account on the stock market so they can rack up massive profits.
I say Stuff em! If the business is run badly and it fails then it should go to the should the tax payer supports these badly managed companies.
I know people will lose jobs but they will anyway with all these merges and takeovers.
And as for them fat cats id love to run them out of em by their balls!!!!
We will all feel the effect either directly or indirectly Calista ain't wrong. though most of the rich will remain so and some lesser mortals will get royally screwed.
Big business doesn't feel pain it just makes cash or doesn't, its dispassionate.
Thinking on about what ty said on the second half of his post, Maybe there should be some sort of penalty toi the 'top brass' for mismanagement. OK so I have no clue about in what way or how this could be implemented it just seems so rediculous that whatever happens the bosses get a big wedge. never having to worry about having enough to supply their material needs. B*stards
Lets face it, the banks pushed up house prices by making more and more money available. Money that many can not pay back. The only problem the banks have now is no one know who has the bad debt, who they can trust to repay interbank loans. Who has not done a little dance to make them selves look good in the short term to collect the odd million in bonuses.
What is the answer>? Free market? Nationalization? Let banks go to the wall?
If you have a pension, chances are some of the money is in banks, some good, some bad. Some in property.
The sad thing is, even if we round up the worst of the deals, the few who did con their companies and put them in Ford Open Prison, there will still be banks finding there balance sheet, or at least the security that they have loaned on is a bit smaller than it was last month.
On the other hand if the government does take over failing banks thing will recover. They may even be better. Oh the housing market will not pick-up very fast, but that was part of the problem. But as loans are repaid and confidence returns it is unlikely that the tax payer will be out of pocket.
I look forward to banks making smaller loans that can be repaid. Loans of 120%, with repayment amounting to 70% of the customers income was mad.
It was the customers who wanted the mortgage, a big house, car.
The salesmen who wanted their commission, who twisted the figures, and later said "the customer told me it was true".
and the company who failed to ensure that the business was sound.
Travis
Yes I feel sorry for the banks, not the bankers.
Totally agree. I once had an argument with someone because I'm renting and he reckoned I could afford therefore I should buy .. my mortgage payments would be 3 times the cost of my rent, which is fine as we can stomach that, but the increase in energy prices, food bill, petrol etc would push us to the edge and so despite scorn I am more than happy to carry on with my situation!
He's now unable to afford his magnificent mortgage, can't sell his house and has no money and is dreadfully unhappy!
Just because you think you can doesn't mean you definitely should!
firstly no I don't feel sorry for the banks... however we have no optuion but to bail them out. If a major bank was to go bankrupt then all hell would let loose. Anyone with savings with that bank would lose their money. Anyone with a morgage for a house, would find the morgage is no invalid and they would need to start paying again as if it was day one. It would lead to each and everyone of us running to the banks and building societies to withdrawl our money and stuff it under our mattresses. This scenerio is quite obviously not good for anyone.
What we do have to do is learn from this. Like all travel companies pay to be in ABTA, which basically secures holiday makers travel money or arrangements..then the banks need to all start to pay into a simuliar fund which will bail out innocent investors should a bank hit trouble.
No. They don't get "bailed-out"
They now have time to consider that their almost criminal greed at no self risk was stupid. Fortunately, since the house of reps is shortly to go to election they did the biz and said "no".
I await, with interest, just how the us gov will manage to fund a bankrupt financial system at no cost to the electorate.
And also just how much control will they insist upon as payment for said bail-out.
Hopefully, no more deliberate manipulation of an insecure system for quick no-cost profit.
I have a dream...................................
I hate them and this whole credit rubbish. Some idiot in US makes some wrong decisions and I loose my home? How does that work?
Last year I employed 60 people in Bars, Property and invested my money into stocks for my pension. Today I employ no one. The Bars are shut as there are no customers, the properties are devalued by 30% bringing my loans up to 100% and my investments are down to 25%.
What did I do except pay my tax, employ dozens of people and invest in the economy? So the Banks say I'm illiquid in their eyes, in their economy and ironically my tax bails them out when they go wrong.
Not good.
I heard that the first £30,000 in anyone bank is protected by law so you wouldn't lose all of your money if they went down and if you have more than that (lucky you) just open up enough accounts to cover it so no account has more than that in it. By distributing your money you are safe guarding it.
I don't feel sorry for the banks and I do agree that by making the money available they have affectively driven the house prices up to the stupid level they are at and in turn they have made my life so much more difficult as there are so few men in their 30s who live on there own!!!! Everyone either lives with parents after a broken relationship or house shares!!!
grrrr!!!!
the Government is offering protection for savings accounts and not investments. Any bank or building society account with a link to shares, the Government will not act as guarantor for. The media is giving the impression that the Government is covering everything.
not the banks.
but perhaps the staff who are catching it in the neck at the moment.
lp
It's the same the whole world over/ It's the poor wot gets the blame/It's the rich wot gets the pleasure/Ain't it all a bleedin' shame
:? :?
:rotflmao: :rotflmao: 
