Is it ok to let HBOS go under

agent_orange_2

wymondham wrote: »

They wont go under, the Government protects banks.

As you say, it will not be allowed to go under. If needs be, the Government will take the holding stake. The bank will continue to do business.
The big question has to be, why did the conservatively run LTSB take over HBOS.

BlondeHeadOn

Oblivion wrote: »

My personal view is that it's high time the government let a major bank go under. It has been very clear from the past weeks' events that bankers still think it's all a big joke and that they can simply carry on reaping huge bonuses whilst the rest of the country shiver.

A major collapse might just serve to concentrate a few minds at the other banks.

Dave.

I think it would scare the !!!!!! out of quite a lot of people, not just the banks! Not least Halifax/HBOS policy holders!!

:eek:

Masomnia

Oblivion wrote: »

My personal view is that it's high time the government let a major bank go under. It has been very clear from the past weeks' events that bankers still think it's all a big joke and that they can simply carry on reaping huge bonuses whilst the rest of the country shiver.

A major collapse might just serve to concentrate a few minds at the other banks.

Dave.

My view is that had the government allowed NR and B & B to go under then RBS et al would've gone down too. The confidence that the public apparently have that the government will not allow a bank to fail is the only thing keeping our economy going. I think if they let one go down the rest would too, and it's just far too risky.

BlondeHeadOn

agent_orange wrote: »

As you say, it will not be allowed to go under. If needs be, the Government will take the holding stake. The bank will continue to do business.
The big question has to be, why did the conservatively run LTSB take over HBOS.

I think this is a very good question, and one which may well cause some red faces in the government once the whole details become clear... It alwyas seemed to me that there was a bit of 'leaning' on Lloyds going on.....

Dithering_Dad

HBOS has already gone, don't you read the news?

If you want Lloyds to go (who now own HBOS), then you'll be waiting a long time. They're now one of the largest banks in the UK and if they go, the the UK goes, with you and the rest of us going along with them.

NikkiP_2

Dithering_Dad wrote: »

HBOS has already gone, don't you read the news?

If you want Lloyds to go (who now own HBOS), then you'll be waiting a long time. They're now one of the largest banks in the UK and if they go, the the UK goes, with you and the rest of us going along with them.

They were one of the largest banks, maybe still are but at a vastly reduced value. Gordon brown brockered the deal with Lloyds, they ignored the monopoly commission and Lloyds did not have time to fully investigate the true state of HBOS. The Govt will not allow Lloyds to go down or they take Gordon Brown with them.

Youdo of course realise that it is not just the banks who are to blame. They dint force people to take loans they could not afford.
If you read the majority of posts on this board you can easily see why the banks are now in trouble. The level of debt by people on here is absolutely scary and has contributed hugely to the present position.

Dithering_Dad

NikkiP wrote: »

Youdo of course realise that it is not just the banks who are to blame. They dint force people to take loans they could not afford.

Is that remark aimed at me? I haven't said anything in my post about blame.

Oblivion

Masomnia wrote: »

My view is that had the government allowed NR and B & B to go under then RBS et al would've gone down too. The confidence that the public apparently have that the government will not allow a bank to fail is the only thing keeping our economy going.

Going where exactly? We are already approaching third world status due to Clown's mismanagement and his handouts to the corrupt banking system. "Our economy" ... don't make me laugh.

Dave.

lesley1960

My company banks with the Bank of Scotland and I can not praise them highly enough...........but then I have never gone overdrawn or defaulted on anything

Broken_hearted

Dithering_Dad wrote: »

HBOS has already gone, don't you read the news?

If you want Lloyds to go (who now own HBOS), then you'll be waiting a long time. They're now one of the largest banks in the UK and if they go, the the UK goes, with you and the rest of us going along with them.

Yes I realise that they have already gone under, Llyods should never have bought into it and now would be a good time to dump as much of it as possible.




As for someones earlier comment. Over the years I've had the misfortune to deal with 1,000's of Halifax staff thanks. There isn't a single one I've found who is not guilty of giving out wrong information, failing to help or even understand the problem in the first place.

Worse still were in their dealings with my parents who have never had any bad debt in their lives.The advice they were given was shocking and cost them a lot of money. Thankfully my parents with some persuasion moved to a bank who at least try to help them invest their money wisely.

Its time we realised as a country we can get rid of dead weight without going under.