Despatches - Tonight 8pm Ch4

Broken_hearted

It said the banks will make back their losses from us. Every penny the lose they'll take back twice from those in debt.

fiveyearplan

Maybe they'll be more responsible lenders in future.

RichOneday_2

Now let's see if we've got this right:

1. ORs quite rightly frown upon reckless gambling because in essence if you're in debt you're gambling with other people's money.

2. If you work for one of the major banks it is in your job description to gamble recklessly.

3. If you are lucky and win loads of dosh on the reckless gambles you get paid a fat salary and a humongous bonus.

4. If you don't get lucky and lose loads of dosh on the reckless gambles you get paid a fat salary and a semi-humongous bonus.

5. The bank itself has a business plan which implicitly requires reckless gambling, not just with the bank's resources but the actual UK economy.

6 If the bank wins its reckless gambles it makes £billions ands gives all the money in bonuses and shareholder dividends.

7. If the bank loses its reckless gambles it loses £billions, but has a quick meeting with the other banks, increases LIBOR and therefore mortgage rates, and the £billions of losses disappear. It can still give loads of money in bonuses and shareholder dividends.

8. The FSA that regulates the behaviour of banks is paid for by the banks and run by ex-bankers and answers to nobody.

I could go on, but I'm getting a headache!!!

moggylover

And these are the people that REALLY run our country - mostly quietly and without publicity - but with the same end result: that they can topple governments, destroy peoples lives and businesses: and they still come up smelling of roses!

ManAtHome

9. If a bank turns it's toes up on your (FSA) watch, you get a bonus

10. If you destroy shareholder value you get bigger bucks than if you increase shareholder value.

11. If you are a pension fund, you'd rather get a few quid for lending shares to short-sellers than tell 'em to fork off and retain your investment value (well, you can still charge the punters x% for "management")

excel1

I would say that the chief exec and the like offer outstanding value for money oh to hell with lying, if you need to !!!!!! every thing up Gordon Brown is only on about £120000!

RichOneday_2

It was interesting that the program dwelled a bit on credit unions because I'd thought for a while that they have matured to a point where they could seriously give the banks a run for the money.

If the customers are actually represented on the board there wouldn't be this level of arrogance and thievery. This downturn might be just what is needed to get the credit unions to become mainstream. 700,000 members and growing.....

deedee_3

I love my credit union account. The place where the operate in my town is only open 2 hours on a Thursday and because I work and can't get there I have set up a small weekly SO which goes into the account without me noticing and I'm building up a nice little nest egg without really noticing. I forget I have it untill someone mentions it . There should be enough for my holiday next year including spending money .

Wonder if they will ever operate like a proper bank one day?

maxmycardagain

moggylover wrote: »

And these are the people that REALLY run our country - mostly quietly and without publicity - but with the same end result: that they can topple governments, destroy peoples lives and businesses: and they still come up smelling of roses!

who runs our country?

european banks, international finance summits, meetings behind closed doors and the free masons.....

maxmycardagain

deedee wrote: »

Wonder if they will ever operate like a proper bank one day?

what, overcharging, poor service, indian call centres and 1 till out 8 open at dinner time?