What are banks for?

reduceditem

Can anyone on here explain what they are for?

white_noise

they make money for themselves by

1) lending money out to people at high rates than they pay people who deposit money with them
2) invest said deposited money

also they provide savers a 'safe' (er) place for them to store there money
WN

VfM4meplse

white_noise wrote: »

also they provide savers a 'safe' (er) place for them to store there money
WN

Rcent events suggest thats not quite true

Comyface

reduceditem wrote: »

Can anyone on here explain what they are for?

What a bizarre question! They're for making themselves money, end of.

white_noise

VfM4meplse wrote: »

Rcent events suggest thats not quite true

thats what the 'er' was about, i'd rather have upto £50k in a bank than in my house
WN

reduceditem

would it be better to nationalise them all and change the way they function?

Quasar

Well, I prefer to have a current account and savings rather than keep my cash under the mattress.

At least, that's what banks were started for. Then they became something else: a way for those running them to gamble OUR money (which they had in trust) to make more money for themselves.

When at last banks become properly regulated the way they used to be, they will fullfil their proper function again.

Radiantsoul

Banks transfer money from those who have surplus funds but nothing much to invest in to those who have good investment opportunities but no surplus funds.

treliac

Your bank manager used to be a solid and most highly respected pillar of the community. Mothers would swoon at the very thought of their daughters landing one as a husband.

Way back in the good old days when having a good reputation was more important than giving as little as possible to fill one's own pockets to maximum capacity.

bluey890

treliac wrote: »

Your bank manager used to be a solid and most highly respected pillar of the community. Mothers would swoon at the very thought of their daughters landing one as a husband.

Way back in the good old days when having a good reputation was more important than giving as little as possible to fill one's own pockets to maximum capacity.

i thought in the good old days they were like captain mannering.:j

Cleaver

reduceditem wrote: »

Can anyone on here explain what they are for?

Depends who you ask:

Cleaver / mewbie: "It's the function on The Weakest Link for keeping money safe for the next round. Chortle, chortle."

amcluesent: "It's a pointless question. The masses have had their noses in the financial trough for too long, aided by Clown and Darling, which will destroy all banks by this time next year."

Dervish: "they are wehre good peopel go to do there BANKING. Immigrents are runining them all thouhg."

Generali: "A bank is a financial institution whose primary activity is to act as a payment for customers and to borrow and lend money. It is an institution for receiving, keeping, and lending money in hopes of repayment." ('cos he's always right).

mr.broderick: "banks? who cares. Have you seen my sock puppet picture? wanna buy a volvo sir?"

StevieJ: "It's a place to lend money of course!

ad44downey: "Clown has runied all of our banks, I don't expect them to last."

Donaldtramp: "I think the public sector could look towards the banks as a way to operate their pension systems. In fact, I think the public sector pension system could be to blame for the downfall of the banks."

Dopester: "Doesn't matter what a bank does as you're not going to need one when you're living in the back of a burnt out car, fending for yourself with a shotgun."

PasturesNew: "Bank? I haven't been to a bank since 1972. And then it was just a visit to pay in a bag of coppers. Don't use banks at all. Oh, there's a Tonight Special: Reposession Britain starting at 9pm. Bonus, didn't know it was on. Will do a commentary.

NeverDespairGirl: "......"

!!!!!!?: "......"

DitheringDad: "You want to know what a bank is? I think you're a sock puppet. In fact, I think you're Carolt's sock puppet. Or possibly Dans. Or chucky's. Or maybe !!!!!!?'s. Well, I'm not sure. But you're definately a sock puppet.

mitchaa: "A financial vehicle used to buy houses in Aberdeen that never go down in value."

sockpuppets: "Anyone want to join my sockpuppet 11?