Speculation grows that Barclays will be bailed out as investors 'throw in the towel'

StAnToN_2

ahai1 wrote: »

Shame I was looking forward to Barclays getting a kicking.

Wow. What a great contribution to this thread that comment was...:rolleyes:

ahai1

All the banks involved in the current suitation need a good kicking. If the banks get a good kicking then it will encourage them to do a better job next time.

As for the job looses in case you are forgetting Barclays have got rid of staff and with automation they need a lot less staff. So staff cut backs are going to happen sooner or later. Even in the good years banks cut back on staff. I meet some women in 2006 who were working for one of the big banks and due to new procedures in cheques the major bank had to let them go. I cannot remember the name of the bank.

The banks were already making cutbacks it's just that they are now using this as an excause to get rid of staff.

BTW HSBC have had a good kicking in the United States with the looses of Household.

Mike1989

ahai1 wrote: »

All the banks involved in the current suitation need a good kicking.

I do agree that those who ran the banks into the situation need to be punished in some way. But for them to take another kicking for a week would have had some serious consequences. Personally I am glad the shares have gone up today and hope they don't take another kicking. Because it is not me that I am worried about, I have all but £250 in my monthly saver there, it is more so the people in jobs there that could be affected if they take another heavy kicking. Same for any bank for that matter.

Those at the top need to be punished by banning them from executive posts or fining them anything they made in golden shake deals. But it shouldn't be the bank itself getting a kicking as that will affect those who have done no wrong. It should be the executives and those making the decisions.

ahai1

Mike whilst I agree with you the people running the banks need a good kicking so do the shareholders. As for job cuts I don't believe that the whole thing started with the credit crunch. Let me give you another example once upon time people would have done a lot of their banking in person and with cheque books now the majority of payments are done by BACS as well as personal banking been done via phone and online secure banking. The last time I was in the bank was to verify my signature.

Also if you are to look at the job cuts in HSBC and Barclays most of them are in head office. As for the Lloyds Banking Group the cuts there will be because of a merger which is related to the credit crunch but the effect of a merger is job cuts as you don't need 2 branches.

In my area we have 2 Barclays and a Woolwich. I have no idea why there are so many of the same banking group.

I have nothing personally against most branch staff as they do a good job but looking at the facts in the cold light of day a lot of the job can be done by phone or online.

noah271007

ahai1 wrote: »

All the banks involved in the current suitation need a good kicking.

I concur with that. HOWEVER you ought to be looking at the top where the CEO and directors makes big decisions. They are the ones as well senior executives rake it all in the millions! When the tough get going, it is ALWAYS the staff at the bottom and maybe middle rank lose jobs. A lot of them actually don't get bonuses believe it or not! I have been saying for years - and I'm sure many of you too - we are creating something of a FALSE economy. Living in a bubble that is about to burst because we are living in a fantasy land world relying on a lot on asset values that are OVERVALUED. The banks are partly responsible. It just to show that they are not as prudence as they claim to be!

If you look throughout the history back in 1970's 1980's 1990's, never in 21st century there has a BIG leap in terms of lending numbers. Not even in the Great Depression era. Just look at Iceland for example. They are bankrupt and they will not recover for another generation. What make me ANGRY is the people who run the economy in Iceland have allowed this to happen. They have let down the next generation of Iceland their hopes, aspirations, and opportunities to go far in life. GREED has a lot to do with it.

If anyone agree, please give me thanks!

dazza.mk

ahai1 wrote: »

I meet some women in 2006 who were working for one of the big banks and due to new procedures in cheques the major bank had to let them go. I cannot remember the name of the bank.

Perhaps this has less to do with the 'good' times and more to do with the fact that we're writing less cheques than ever. Article below stated usage fell by 10% in 2006, are you surprised that the banks need less staff to deal with cheques?



http://www.paymentsnews.com/2007/08/cheque-usage-by.html

ahai1

No I am not surprised and the thing is that whether or not there was a credit crunch the banks would still need less staff. If anyone believes that Barclays will not cut staff because they are not in trouble then they are living in cloud coocoo land.

noah271007

ahai1 wrote: »

No I am not surprised and the thing is that whether or not there was a credit crunch the banks would still need less staff. If anyone believes that Barclays will not cut staff because they are not in trouble then they are living in cloud coocoo land.

ahai, you seem from what i read, hold a grudge with banks. Always ranting on about bloody banks! They must have messed you around so often in the past and now you are not so forgiving.

ahai1

Yes I am not happy with banks as they keep on reducing the interest on savers. When people who use the overdraft as free cash they fine them which is good but then they cannot defend the penalities. Just call it a loan.

Getting back to the job cuts I have seen no evidence that the job cuts would not have happened as I have argued with banks moving to automation and call centres and internet there is not much need for staff. I have not seen a bank employee in years. I only go in to put cheques which have become less frequent and verify my signature which only happened once.

People who are talking about job cuts should look at modern banking.

ShelfStacker_3

noah271007 wrote: »

ahai, you seem from what i read, hold a grudge with banks. Always ranting on about bloody banks! They must have messed you around so often in the past and now you are not so forgiving.

Wait until Inactive shows up. You'll suddenly be grateful for ahai. At least he's a reasonable person.

That said, ahai - savings rates are going down because the base rate keeps falling. When the base rate rises, they'll go up again. Not all banks want to be A&L/Abbey/whoever and have massive, unsustainable rates.