Loose Posted November 10, 2012 Share Posted November 10, 2012 Woman jumps to her death from window in Spain as bailiffs come calling. She's not even the first. 1 in 4 people in Spain are unemployed, austerity measures getting harsher, why are EU countries bailing out banks if not to help real people? http://news.sky.com/story/1009579/spain-suicide-death-jump-as-bailiffs-move-in Link to comment Share on other sites More sharing options...
missunderstood Posted November 10, 2012 Share Posted November 10, 2012 While banks can inflict immense damage and misery so can supermarkets, who IMO are even greedier than bankers. Hate to say it but my non earnings related pension (AVCs) exceeded my wildest expectations thanks mainly to the Co Op bank investing my money wisely. If we allow the banks to fail tens of millions of peoples life savings and pensions invested in banks would be put in grave danger, so unfortunately banks cannot be allowed to fail. They should though be regulated much tighter than they are at present though. Link to comment Share on other sites More sharing options...
Loose Posted November 10, 2012 Author Share Posted November 10, 2012 While banks can inflict immense damage and misery so can supermarkets, who IMO are even greedier than bankers. Hate to say it but my non earnings related pension (AVCs) exceeded my wildest expectations thanks mainly to the Co Op bank investing my money wisely. If we allow the banks to fail tens of millions of peoples life savings and pensions would be put in grave danger, so unfortunately banks cannot be allowed to fail. They should though be regulated much tighter than they are at present though. Completely agree Alan on not allowing banks to fail and that they should be more tightly regulated but I think we are missing something here. The banks have been shored up by public funds and instead of helping people out, not foreclosing on mortgages, opening up the money markets to businesses and individuals they've done the opposite. True, it has been the profligate lending to people who could not fulfil loans that has been part of the problem but NOT spending is what is causing the recession to deepen. Stupid idea, I know there'll be many reasons why you shouldn't do it but why not give the public's money directly and indirectly back to the taxpayers so that they can spend it, not banks on their director's bonuses and shareholder dividends? Link to comment Share on other sites More sharing options...
Horace Posted November 10, 2012 Share Posted November 10, 2012 Completely agree Alan on not allowing banks to fail and that they should be more tightly regulated but I think we are missing something here. The banks have been shored up by public funds and instead of helping people out, not foreclosing on mortgages, opening up the money markets to businesses and individuals they've done the opposite. True, it has been the profligate lending to people who could not fulfil loans that has been part of the problem but NOT spending is what is causing the recession to deepen. Stupid idea, I know there'll be many reasons why you shouldn't do it but why not give the public's money directly and indirectly back to the taxpayers so that they can spend it, not banks on their director's bonuses and shareholder dividends? Because the "taxpayer" will p*ss it up the wall and come back for some more! And can someone explain to me how lending freely to small, emerging businesses that are strapped for cash is a good idea when all the stats show that most of them ultimately fail and default on the loan, which is, I think, where we came in. Why would today's loans be any safer than the ones that got us into the mess in the first place? I was brainwashed as a ragged ar$ed working class kid into believing that the Labour way of the 40s nd 50s was the only way. I bucked the trend of a job down the local pit, passed a few exams and got a white collar job and gradually became enlightened to the view that someone has to actually create the wealth before a government can get it's hands on it and spend it. The honest toil of the working classes is to no avail unless some clever sod knows how to make money out of it. Now that we don't actually make very much, the banking sector creates most of our wealth (by taking it off someone else). They know how to do this, most politicians don't. Have to go now. Off to spend some of my index linked pension at the Emirates! Link to comment Share on other sites More sharing options...
Loose Posted November 10, 2012 Author Share Posted November 10, 2012 Because the "taxpayer" will p*ss it up the wall and come back for some more! And can someone explain to me how lending freely to small, emerging businesses that are strapped for cash is a good idea when all the stats show that most of them ultimately fail and default on the loan, which is, I think, where we came in. Why would today's loans be any safer than the ones that got us into the mess in the first place? I was brainwashed as a ragged ar$ed working class kid into believing that the Labour way of the 40s nd 50s was the only way. I bucked the trend of a job down the local pit, passed a few exams and got a white collar job and gradually became enlightened to the view that someone has to actually create the wealth before a government can get it's hands on it and spend it. The honest toil of the working classes is to no avail unless some clever sod knows how to make money out of it. Now that we don't actually make very much, the banking sector creates most of our wealth (by taking it off someone else). They know how to do this, most politicians don't. Have to go now. Off to spend some of my index linked pension at the Emirates! Take your points Horace, good ones but tell me how the banks aren't doing the same? - Pissing it up the wall and then coming back for more. Let people pay off some, all or none of their credit debt, let them buy a holiday, a TV or stick it in their ISAs. Does exactly what is needed, the money stays in the system and moves it, after all, what good is it doing at the moment. Small to medium businesses are the life blood of the UK at present, or should we take a quick look at heavy industries? Nah! Again, small businesses help local economies, pay taxes, NI and VAT and they take people off the dole queue. I think people forget that small businessmen don't just risk bank funding, they risk their own first and foremost. The City of London may be balancing the country's books but it's not sharing the wealth. Link to comment Share on other sites More sharing options...
The Mayor Of Simpleton Posted November 10, 2012 Share Posted November 10, 2012 Trouble is that the Financial Sector is the only thing propping up the UK, now that Manufacturing has gone to pot thanks to both Labour and the Tories. Nick Griffin said that the banks should have gone to the walls, and maybe he had a point. However, if the Financial Sector goes TU we have had it. Link to comment Share on other sites More sharing options...
missunderstood Posted November 10, 2012 Share Posted November 10, 2012 N Nick Griffin said that the banks should have gone to the walls, and maybe he had a point. How would you feel if the bank that had your savings went tits up and taxpayers didnt bale it out? Link to comment Share on other sites More sharing options...
The Mayor Of Simpleton Posted November 10, 2012 Share Posted November 10, 2012 Well, obviously, I'd be p-d off Alan - and I would probably feel like smashing a few faces in as well. However, the banks need to be controlled better and I support splitting them into High Street and Investor banks. I also have a sum in NS&I and also in bonds, as my Financial Adviser told me not to put all my eggs in one basket so I hope I'm pretty much covered for when the next double dip occurs (won't be long surely...) Link to comment Share on other sites More sharing options...
Big J R Posted November 16, 2012 Share Posted November 16, 2012 I must admit I find it a bit 'odd' that the new Lord Mayor of London, (as of last Saturday), is described as a friendly BANKER. Seems his bonuses got him the year long 'job', then !!!! Link to comment Share on other sites More sharing options...
Basil-Don Posted November 16, 2012 Share Posted November 16, 2012 ironic that the report appears on sky news,remind me again how much corporation tax Murdoch's News International pays in the UK? Link to comment Share on other sites More sharing options...
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