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Govt. guarantees all depositors money in NRK, will they do the same with A&L?"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Guy_Montag wrote: »Govt. guarantees all depositors money in NRK, will they do the same with A&L?
If they don't then there will be a massive bank run at every single bank.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
Guy_Montag wrote: »Govt. guarantees all depositors money in NRK, will they do the same with A&L?
I guess this means that the taxpayer will now have to undewrite all deposits made with all banks?Mortgage debt - [STRIKE]£8,811.47 [/STRIKE] Paid off!0 -
I guess this means that the taxpayer will now have to undewrite all deposits made with all banks?
We do anyway.
http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
I guess this means that the taxpayer will now have to undewrite all deposits made with all banks?
Hard to know - this might be enough to kill the run, if so it's worth it.
What price the UK banking system? Whatever its problems, if three or four banks pop their clogs how long will it take for the UK economy to recover? Years or decades?
I mean I'd like to see the end of civilisation as much as the next person (I could give up my day job & become a pirate), but we should be sensible here (& this end of civilisation scenario doesn't include either zombies or ninjas)."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
How is one or two companies with obsolete business models going to wall going to be the end of civillisation?
edit - didnt see the govenment and BoE falling over themselves to bail out Rover....Mortgage debt - [STRIKE]£8,811.47 [/STRIKE] Paid off!0 -
How is one or two companies with obsolete business models going to wall going to be the end of civillisation?
edit - didnt see the govenment and BoE falling over themselves to bail out Rover....
It depends how far this spreads. If it's just NRK, & poss. A&L that's no major problem, but what if people start doing the same to HBOS, Lloyds & HSBC?"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Isn't it funny how we start with the fact that some p1ss-poor american rednecks can't afford their mortgage and end with ..........
.............people contemplating the end of civilisation as we know it.
Is this possible?dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
If it spreads, then thats an indication that the banking industry has a serious problem.
When other industries (manufacturing anybody?) have serious problems the government just grunts about the free market, various nebulus EU regulations, shurgs, and lets them go bust.
Banks have evidently been lending beyond their means... while I agree that depositors should not lose their cash, it should not be the taxpayer who stands to prop up non-viable companies. These banks should be forced to sell their assests to refund depositors first and shareholders and creditors last.
What the government should be doing is ensuring that the regulations and interest rates are such that banks cant lend beyond their means in the first place... not wholsesale bailing out of sketchy corporations to save their own skins at the next general election. Obviously the government and the BoE and not competent to do the former so have resorted to the latter.
Moral hazard anyone?
Inflation anyone?Mortgage debt - [STRIKE]£8,811.47 [/STRIKE] Paid off!0 -
#If it spreads, then thats an indication that the banking industry has a serious problem.
When other industries (manufacturing anybody?) have serious problems the government just grunts about the free market, various nebulus EU regulations, shurgs, and lets them go bust.
Banks have evidently been lending beyond their means... while I agree that depositors should not lose their cash, it should not be the taxpayer who stands to prop up non-viable companies. These banks should be forced to sell their assests to refund depositors first and shareholders last.
What the government should be doing is ensuring that the regulations and interest rates are such that banks cant lend beyond their means in the first place... not wholsesale bailing out of sketchy corporations to save their own skins at the next general election. Obviously the government and the BoE and not competent to do the former so have resorted to the latter.
Moral hazard anyone?
Inflation anyone?
The thing is I don't give a toss if Rover go bust (£200m handout?), & nor do most people - employees & shareholders excepted. But if a bank goes broke, then what 1m+ people are in trouble - 1m+ voters.
I agree that NRK shouldn't be able to walk away thinking they got away with it - but they're not going to manage that. They are crippled as a company."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0
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