One Account rates cut

Insider_knowledge

Does this government really think it can bankrupt us to buy huge shares in banks, and then charge us over twice the base rate for the privledge, we are being effectively taxed on our tax, we gave them 20 billion of our money, and they charge us 3 points over base to lend it back to us?
If Neo Labour expect to get in next time they can forget my whole families vote, and most of my friends.
It seems the government is not interested in the little guy, just there post government chairmanships etc...

camz2008

Here's a good Libor to Base rate graph btw. It tends to emphasise the fact that the OA are holding out on their mortgage customers.

http://www.thisismoney.co.uk/libor (page down a couple of times)

Insider_knowledge

The facebook page http://www.facebook.com/group.php?gid=37369727715
Has gained about 10 members in the last few hours!!!

I can't stand Robert Peston, but we need him to get wind of this, or Moneybox on Radio 4. Can someone post to Pestons Blog? I can't, for reasons best known to the BBC?

Insider_knowledge

I heard someone was organising a petition, does anyone know where to find it?

malocao

serendipity101 wrote: »

Well Done to Poj, for getting his email read out on 5-Live to Gordon Brown!
I have just had a reply to my email to my local MP Rbert Syms:

'Hi thanks for your recent @mail on the cost of your Mortgage..i
understand your concern I have had many complaints from constituents
dealing with banks and Building societies.Part of the problem is that
the cost of money to banks is not the minimum lending rate which dropped
1.5 %..but the 3 month interbank rate witch remains nearly 3 pints
higher..the Government bank rescue was meant to reduce this but has so
far failed..until this reduces and banks start lending to each other...i
think customers will continue to have a torrid time. Sorry not to be
more hopefull regards Robert SYMS MP'

Am disappointed with his reply,but will continue to raise awareness.

Serendipity - you could point out the facts re LIBOR to your semi-informed MP - http://www.thisismoney.co.uk/libor - as also linked from post #496

Back on 29th Nov, One A/c was still telling us that "rates are under review".

Let's generously assume that this was the truth: so they had time to take into account LIBOR on 28th Nov, which was 3.9% (a fall of 1.9% since the BoE rate cut on 6th Nov).

Their best rate of 5.05% from 1st Dec was set at 1.15% more than LIBOR; prior to November they were running this gap at 0.25%-0.75% most of the time. Clearly then, a deliberate price hike.

Today's LIBOR is 3.7%, so their gap is 1.35% and it's bound to widen further in the next few days.

Regards

Princess_Coupon

We all know we are going to get screwed again, it's just disgraceful we're gonna to have to wait a month again to find out by much.:mad:

Insider_knowledge

RE:

He replied saying that the government has only bought in for the short-term, and that it doesn't want to get involved in the day-to-day decisions of management. But that he would expect the cut to be passed on.[/QUOTE]

20 BILLION Pounds and a recession due to last another 2 years, if he means that kind of short term he is fooling himself, we need to be in there until every last penny is paid back with interest (preferably 3 points above BOE base rate)

We are talking 5 years minimum, and what is the point of owning 58% of a bank and then leaving it to the numpties who destroyed it originally to run it?
We should demand a say in the "day to day" running or get our money back.

This is not good enough!!:eek:

apap

serendipity101 wrote: »

Well Done to Poj, for getting his email read out on 5-Live to Gordon Brown!
I have just had a reply to my email to my local MP Rbert Syms:

'Hi thanks for your recent @mail on the cost of your Mortgage..i
understand your concern I have had many complaints from constituents
dealing with banks and Building societies.Part of the problem is that
the cost of money to banks is not the minimum lending rate which dropped
1.5 %..but the 3 month interbank rate witch remains nearly 3 pints
higher..the Government bank rescue was meant to reduce this but has so
far failed..until this reduces and banks start lending to each other...i
think customers will continue to have a torrid time. Sorry not to be
more hopefull regards Robert SYMS MP'

Am disappointed with his reply,but will continue to raise awareness.

What a answer from the opposition MP

So dear MP if that is the case , why dont you do your work as opposition and
let the people know that the measures taken by goverment are not working rather then sitting on your butt and collect your fat MP salary.
Sorry actually i forgot you are from the do nothing party

Insider_knowledge

LABOUR ISN'T WORKING
And because of their "Fiscal prudence" (rofl) neither am I for the first time in my adult life.

I am now having to seek work in France and Germany, or anywhere else I can, there are still jobs in Dublin as corporation tax is half what it is here and all the funds are moving over there...

This government has destroyed the nest egg I spent 20 years building. I couldn't be more disgusted with them and their "crony" scottish banks

Insider_knowledge

Maybe the Conservatives and Li Dems don't care, since by the time they get a chance at power Britain will have sunk into oblivion under the weight of the bloated Neo Labs and a world beating National debt.
Truly a winter of discontent.
Brown wants us to be proud of britain, he avin a laugh, is he not, he and his friends in HBOS and RBS have done more to destroy this country than anything in our history.
Proud, I am embarrassed by the fiscal ineptitude of our government and their cowardace and cow towing to the banks.
And the pound is falling through the floor. We should join the Euro now before its too late.