Ethics are not just for Sundays

new archbishops has to back track

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Bouncing Barlist    pirate
02/08/2013 at 11:07

It was a rhetorical question, most of the figure is admin apportioned as costs to be set-aside against profits, id guess a lot of the remainder has been paid to ambulance chasing law firms with a very small portion reaching those that were truly deserving. 

Its not the banks that have paid but the tax payer via direct taxation and from their pension funds who have investments in the banks.

02/08/2013 at 11:32

Yes, like my earlier point that the people footing the bill for bad loans from the banks are the savers and the pensioners. You can't get money from people who don't have two ha'pennies to rub together. They end up with a poor credit rating and the only place they can go to is PayDay loan companies. They might rack up all this money owing but in truth they have no more chance of getting the money than the banks did. 

Bouncing Barlist    pirate
02/08/2013 at 11:40

I agree, but those with savings and pensions are for the most part people that have gained from successive governments mismanaging the economy for short term political gain.  If you've got savings and a pension the chances are you've benefitted from the house price and stock market growth through the 00's.

The banks only do the governments bidding, the government set the rules and leave the banks to get on with.  I find it strange that the banks are now expected to lend more, but at the same time hold more money in reserve?

02/08/2013 at 13:13

Well, it's perfectly simple. The banks are to blame for everything. The government must force them (a) not to gamble with our money, and (b) to lend more of our money to small start-up businesses (the most risky form of investment) in order to get the economy moving. And if the banks don't do both of these things, that just shows how wicked they are.

Edited: 02/08/2013 at 13:13
Bouncing Barlist    pirate
02/08/2013 at 13:20

I think the problem we have in the UK is that the British banks have their backs against the wall as a result of the lynch mob attitude that's regularly demonstrated I the press and by every citizen now thinking themselves a banking expert.

Banks and investment banking didn't cause the crash on its own it was government policy, lack of regulation and sub prime lending, also that the economy being allowed to overheat (did Brown really think ave house prices 6x average earnings was sustainable)?

The bubbles already being inflated again, not by the banks but the governments housing schemes 3.7% ave house price increase in July!

If anything the banks need to be left along to get on with their core business like they are in the USA and not overregulated by the EU who are hell bent on breaking the UK banking industry.

Edited: 02/08/2013 at 13:56
02/08/2013 at 17:37

Just noticed that parkrun has now got Wonga as a sponsor on its website

02/08/2013 at 18:11
Sussex Runner NLR wrote (see)

Just noticed that parkrun has now got Wonga as a sponsor on its website

Hardly surprising that.

Wonga has ascertained that the reason so many runners do parkruns is because they're too skint to pay for a race.

Just appealing to their core market.

02/08/2013 at 20:31

I could pay 30 pounds for the colorun 5k or I could run a 5k in Hove Park for free. Nothing to do with being skiint. It's just the same reasoning that stops me being skint.

02/08/2013 at 20:55
Sussex Runner NLR wrote (see)

I could pay 30 pounds for the colorun 5k or I could run a 5k in Hove Park for free. Nothing to do with being skiint. It's just the same reasoning that stops me being skint.

It was a joke.

 

02/08/2013 at 21:39

I know

Edited: 02/08/2013 at 21:40
03/08/2013 at 02:53

Ah, good.

At least not being skint means, according to a survey, that we're better off than over half the country.

03/08/2013 at 13:59

What do some people call skint? Can't afford a holiday? Can't but fuel for the car? Can't buy a packet of fags? Can't repay Wonga?

03/08/2013 at 15:28

I regard people skint when their total assets (property, pension fund, cash) add up to less than their debts.

Some fantastic examples of skint around my way. I'm told of one individual who earns a good amount, who bought his £800,000 house on a self certificate mortgage (aka liar loan) and drives an AUDI R8. All borrowed (allegedly).

Our whole economy has been inflated for years by borrowers (like this) who rather than face up to how little money they really have, simply used their earnings to pay interest on a sum of money that they could never save (or even earn).

They've been taking the piss for years. I have zero sympathy for them. They've simply made life more expensive for everyone.

I have one customer who has a habit of giving me a cheque post dated for the end of the month (when they get their pension). We're talking about £10, that's really skint!

03/08/2013 at 16:41

Skint is relative but there are plenty of people who wouldn't be if they managed their money more carefully.

A lad at work is forever jetting off round the globe and has to hide some of his spending from his girlfriend but I had to nag him into putting a mere £10 a month into his pension.

 

03/08/2013 at 16:43

I'm more the school of realism, and I believe this spell will teach the next generation a valuable lesson in life that we had all but forgotten. I did have a loan once, way back in the late 80s, however since then I don't buy unless I have the money in the bank, and when I buy I will never spend more than half of what I have.

Consequently the current squeeze to me, or anyone else who chose this route (note the word Chose) just means I can maintain my standard of living, whilst everything is dropping in price around me.

03/08/2013 at 19:57

Maintaining a standard of living.

Some people have very high standards. I was told a couple of days back about a women whose husband died and left her nothing but an enormous debt. A debt that she was unaware of.

Seems her husband liked to keep the subject of money to himself. And, due to his habit of taking delivery of a new Mercedes every couple of years, gave all his chums down at the golf club the impression he was really well off.

Total facade.

Poor women had to sell the house just to break even.


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