Bank Bailout Referendum poll results/discussion

nee-naw

For the sake of our economy and our pound, this action had to be taken, but what actions enforced this situation? It is just like any other mismanaged company, when it goes into receivership, so too, must the banks that are being bailed out. They should be forced to comply with with receivership rules. There should be duly appointed teams to take over the admin of the banks being bailed out, and those responsible for the risk taking should be brought to task. Only by looking at unnecessary expenditure, bonuses, salaries etc., might we, the public, have some chance of getting this money back where it belongs, in health etc.

nee-naw

Just thought I would add to my previous post. Do you know that government employee pension funds are not allowed to be invested in high risk ventures? Just heard a financial advisor state, that civil service pensions are higher than those in the private sector? Who'd have thought??

NandoDave

sallyjo wrote: »

My proposal:- Why can't the government take a mere £60million out of the huge bank bailout and give each person in the UK £1 million each?

sallyjo wrote: »

So why can't we, at moneysavingexpert, lobby for our £1million each? I promise to be smart with mine. I might even donate some to the Labour party. hahahahahah

£60million gives you £1 sallyjo, not £1million each. You would need to give approximately £60million-million away to give us all a million, or £60,000billion, or over 1600 times the amount INVESTED in banks to maintain stability.

The word INVESTED is very important here as the government hasn't simply just handed over the money. There have neen lengthy negotiations and many, many fierce arguments between the banks, treasury and BOE. They are not simply giving away the money, they are trying to stabilise the system, which, bonuses and salaries for the top professionals are a drop in the ocean (albeit one that creates a lot of jealousy!).

The likliehood is that the bailout money will come back to us with a healthy return once the bad-debt has been stemmed and interbank lending becomes easier. For this reason, I think the government has made a wise investment of taxpayers money to prevent a serious slump in the economy and protecting us, their electorate from potentially devastating losses.

JimmyTheWig

sallyjo wrote: »

My proposal:- Why can't the government take a mere £60million out of the huge bank bailout and give each person in the UK £1 million each?

If you start with £60 million and give people £1 million each, you will run out of money after giving to 60 people.
I think you need to rethink your sums...