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No General Financial Crisis
BYALPHAINDIA
Posts: 781 Forumite
Please, Everyone don't be 'Brainwashed' by the media etc presenting the fact that there is an Active Financial Crisis.
There is NO Actual Crisis.:rolleyes:
The crisis only represented the Halifax & the Bradford & Bingley.:rolleyes:
These 2 companies provided years of 'BAD' customer service at the very lowest levels, And that was in part the reason why they have gone.
I worked at the Bradford & Bingley, And can tell you that they were C**P then back in 1995.
The Bradford & Bingley were too outdated for the present, And had VERY high customer expectations.:o
The Bradford & Bingley lost it's popularity many years ago, As I have said when I worked there they were losing many customers, Because of their VERY high expectations and Lending criteria.
The Bradford & Bingley would NOT have survrived in today's market.:o
On the other hand the Halifax was a VERY 'Disorganised' Bank with far too many branches, And customers to look after correctly.
They had too many complaints about it's branches & staff, The training was not the correct training etc.:rolleyes:
The Halifax was not Managed how a Bank should be, It was managed by managers who only had THEIR interests at heart and not the staff or the customers.:mad:
They were going down a one way slope with 'No Point Of Return'
But they were very lucky in the end to have been given a 'Lifeline' by the LTSB a Bank with many years of succesful management Banking to show for.
The Halifax don't know how lucky they are.:rolleyes:
Some good will come out of these 2 companies dissapearing fast off the high st.
Basically what's happened in the last 2 months is the Banking Industry has had a 'Deepclean' and cleared out the waste ie the Halifax & the Bradford & Bingley.
And the 'Mediamen' they are only talking about this everyday to make a living.
I guess the BBC & the papers need some form of viewing If any.:rolleyes:
(You Think Therefore I am)
There is NO Actual Crisis.:rolleyes:
The crisis only represented the Halifax & the Bradford & Bingley.:rolleyes:
These 2 companies provided years of 'BAD' customer service at the very lowest levels, And that was in part the reason why they have gone.
I worked at the Bradford & Bingley, And can tell you that they were C**P then back in 1995.
The Bradford & Bingley were too outdated for the present, And had VERY high customer expectations.:o
The Bradford & Bingley lost it's popularity many years ago, As I have said when I worked there they were losing many customers, Because of their VERY high expectations and Lending criteria.
The Bradford & Bingley would NOT have survrived in today's market.:o
On the other hand the Halifax was a VERY 'Disorganised' Bank with far too many branches, And customers to look after correctly.
They had too many complaints about it's branches & staff, The training was not the correct training etc.:rolleyes:
The Halifax was not Managed how a Bank should be, It was managed by managers who only had THEIR interests at heart and not the staff or the customers.:mad:
They were going down a one way slope with 'No Point Of Return'
But they were very lucky in the end to have been given a 'Lifeline' by the LTSB a Bank with many years of succesful management Banking to show for.
The Halifax don't know how lucky they are.:rolleyes:
Some good will come out of these 2 companies dissapearing fast off the high st.
Basically what's happened in the last 2 months is the Banking Industry has had a 'Deepclean' and cleared out the waste ie the Halifax & the Bradford & Bingley.
And the 'Mediamen' they are only talking about this everyday to make a living.
I guess the BBC & the papers need some form of viewing If any.:rolleyes:
(You Think Therefore I am)
Thomson 757 Man
0
Comments
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I am inclined in part to agree - the media have a tendency to over egg the pudding with regards absolutely everything these days. Yes there is a financial problem at the moment, but for the majority of us it doesn't affect day to day stuff by much - in fact it could be good news in terms of oil prices and therefore petrol and energy prices. Good deals may be had on other things like holidays and cars if they are struggling for business. Many people don't have investments as such. I feel sorry for those about to retire now though with their funds worth less now, but that is not the majority of the population is it? INterest rates may be a bit higher, but they aren't anywhere near as high as they were in the early 90s. Shops are still open - with deals to get the money in. Just don't watch the news any more - if you have less than 50k in the bank you will be fine! If you have more, you can move it around and will be fine - or stuff it under the mattress until things calm down!!!0
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As a General Rule At the end of the day - You can have all the Bank Accounts, Tessa's Toisas, CC's etc.
But You cannot beat 'Good Old' CASH.
CASH is King and will always be.:T
I wish people would be educated this instead of getting excited about 'Plastic Cards'Thomson 757 Man0 -
Shame that cash is easily stolen, hard to store large quantities of, doesn't earn interest and is infinitely less convenient then, really...
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Totally agree SS... i rarely even carry a few quid in coins any more since I had my purse stolen twice once containing £100 in cash and the second time £160 in cash... I pay for EVERYTHING, and I mean EVERYTHING,by card and if somewhere wont take my card, I walk out and go somewhere else that will (except bus fares of course which I pay for in the form of a pass, paid for by card of course)*The RK and FF fan club* #Family*Don’t Be Bitter- Glitter!* #LotsOfLove ‘Darling you’re my blood, you have my heartbeat’ Dad 20.02.200
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But paying with a Card you don't know who's storing your information??Thomson 757 Man0
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You may have something in what you say about the way B & B were run, but the rest of it is just jibberish and simplistic in the extreme.
No financial crisis eh? Well lets just think about that
- Wholesale money markets frozen (which is where this started)
- Banks going bust every day it seems - in addition to the 2 you mention there is Fannie & Freddie, Lehmans plus the 3 Icelandic banks, Rock etc. Many others seeminly on the brink and having to be bailled out by government (yours and my) money
- Stockmarkets in meltdown
- House prices tumbling (which many will argue is a good thing)
- Jobs going every day, not just in Finance
- Etc
To draw parallels with the use of cards & cash as the current economic situation is too ridiculous for words.
The media may not help these situations but they don't cause them. Having worked in Financial Services for many years, the current climate has no precedent in living memory and it will get worse before it gets better.
If this is not a crisis, god knows what it will take to convince you of what is. Wake up!0 -
Of course ... no financial crisis ... it's not like some of the biggest investment banks in the entire world have collapsed or been bought out ... people who are providing a lot of funding to the rest of the investment world (like ... say ... normal companies looking for financing)
It's not like we've had to rescue 3 banks from collapse ...
It's not like it's a real struggle to get a mortgage because the banks won't lend to each other ...
It's not like the two biggest mortgage providers in the USA had to be nationalised ...
I mean - none of those things might be called a crisis right?
Oh wait ...0 -
These 2 companies provided years of 'BAD' customer service at the very lowest levels, And that was in part the reason why they have gone.
Utter rubbish - Halifax provides good customer service. Everything is geared towards ensuring the customer receives the best possible service and advice. Customers buy on either a price or service proposition. Halifax provides the best of both.
The Bradford & Bingley lost it's popularity many years ago, As I have said when I worked there they were losing many customers, Because of their VERY high expectations and Lending criteria.
B&B had quite loose lending critera - they picked a prodominant market segment which was high risk (BTL).
On the other hand the Halifax was a VERY 'Disorganised' Bank with far too many branches, And customers to look after correctly.
Define too many customers and too many branches? In my opinion it is an innovative bank which leads the way, certainly in the current account market.
They had too many complaints about it's branches & staff, The training was not the correct training etc.:rolleyes:
How do you know that?
The Halifax was not Managed how a Bank should be, It was managed by managers who only had THEIR interests at heart and not the staff or the customers.:mad:
Is that not the same with any bank. All Plc's have short-term views driven by shareholders interests?
But they were very lucky in the end to have been given a 'Lifeline' by the LTSB a Bank with many years of succesful management Banking to show for.
Given the issue is one of liquidity, why do HBOS now need the LTSB deal?
Some good will come out of these 2 companies dissapearing fast off the high st.
Although it won't happen - a reduction in competitors = poorer deals fo the consumer. Look up oligopoly and see what I mean.
Basically what's happened in the last 2 months is the Banking Industry has had a 'Deepclean' and cleared out the waste ie the Halifax & the Bradford & Bingley.
Utter rubbish0 -
Of course ... no financial crisis ... it's not like some of the biggest investment banks in the entire world have collapsed or been bought out ... people who are providing a lot of funding to the rest of the investment world (like ... say ... normal companies looking for financing)
It's not like we've had to rescue 3 banks from collapse ...
It's not like it's a real struggle to get a mortgage because the banks won't lend to each other ...
It's not like the two biggest mortgage providers in the USA had to be nationalised ...
I mean - none of those things might be called a crisis right?
Oh wait ...
No it's 'THEIR FINANCIAL CRISIS'
Not everybody else's.
I'm not in a financial crisis like 95% of the country.Thomson 757 Man0 -
Utter rubbish - Halifax provides good customer service. Everything is geared towards ensuring the customer receives the best possible service and advice. Customers buy on either a price or service proposition. Halifax provides the best of both.
B&B had quite loose lending critera - they picked a prodominant market segment which was high risk (BTL).
They had too many complaints about it's branches & staff, The training was not the correct training etc.:rolleyes:
How do you know that?
Utter rubbish[/quote]
Halifax - GOOD CUSTOMER SERVICE = 'Iv'e just fallen off my chair!!:rotfl:
Nothing 'Loose' about the Bradford & Bingley = They were 'total' Stiffs in suits!!
You only have to ask 10 people if they think the Halifax was getting too many complaints, And most will say = YES.Thomson 757 Man0
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