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Public sector profitability rising
lemonjelly
Posts: 8,014 Forumite
http://www.bbc.co.uk/news/business-11414386
The worse seems to have passed for them. A third seeing increased business.
Good news?
Not for all:
http://www.bbc.co.uk/news/uk-northern-ireland-11413864
£36 million!
Scotland, home of the banking industry appears to be having a gradual (at best) recovery, though some argue it is stalling already.
http://www.bbc.co.uk/news/uk-scotland-11415187
Lehman brothers art collection raised $12million for anyone interested.
The worse seems to have passed for them. A third seeing increased business.
Good news?
Not for all:
http://www.bbc.co.uk/news/uk-northern-ireland-11413864
£36 million!
Scotland, home of the banking industry appears to be having a gradual (at best) recovery, though some argue it is stalling already.
http://www.bbc.co.uk/news/uk-scotland-11415187
Lehman brothers art collection raised $12million for anyone interested.
It's getting harder & harder to keep the government in the manner to which they have become accustomed.
0
Comments
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Public sector profitability (isn't that an oxymoron) ?0
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Low interest rates are a massive subsidy to the banks as they are able to borrow from the BoE at close to zero and lend at much higher rates. I am sure this more than offsets the fall in the volume of loans.
The only reason banks made losses during the credit crunch is they had to recognise their historic loses on loans. I am not sure if bad debt provisions are high enough yet, but the fact there has not been many defaults and rising asset prices as security must be a limiting factor.
Good times will not return until the banks really have sufficient bad debt provisons and capital to cover any loses. I am not sure how close we are.0
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