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Retail banks to be ring fenced
Comments
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They're a business not a charity... and you do charge them.
They hold it securely and pay you circa 3%.
They lend it out to Joe Bloggs at 14.9%.
It's not hard to work out.
If you don't like the model keep your money in a jar in the bottom of your wardrobe.
On the basis they don't actually give me any interest then they can keep that to pay for the account.
Or I take it out and place it with a competitor who offers me a better rate. My bank then has to borrow more money at commercial rates pushing up the cost of borrowing."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »
Media are calling this one of the biggest changes in history.
Since the last time:rotfl:
It used to operate more like this 30 years ago when Merchant Banks used to do the wholesale sexy stuff."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I believe "ring fencing" is a slightly bizarre gay practice.0
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Anyone would think that the government was in charge of the banks rather than the other way around."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
Media are calling this one of the biggest changes in history
That's because the Media have an attention span of about 30 seconds.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
grizzly1911 wrote: »What is the net running cost for a basic bank account I wonder?
Go to your local branch and look at
1) the building
2) security
3) the number of staff.
If you want no counter service, banking will be cheaper. MUCH cheaper infact.0 -
Go to your local branch and look at
1) the building
2) security
3) the number of staff.
If you want no counter service, banking will be cheaper. MUCH cheaper infact.
I have a pretty good idea that the actual operation of the bank account is very little or they wouldn't keep asking me to open new ones and then leave the old ones open.:mad:
I accept the "luxury" overhead cost element you make."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Why should banks charge me for keeping my money when they use it to lend out to other people or finance other parts of their business. I should be charging them for using my money.
Stick your money under the bed if you feel they provide you a valueless service.
I take it you call for workers to enjoy good incomes and paternity pay - so you should surely be more than happy to pay business in order that society enjoys such benefits. This money saving lark has a real cost for real people all over the world. Stop penny pinching and value the work others provide.
A lot of my self employed clients detest the fact some people seem to expect them to work for little. These which magazine types are no doubt the very same that would applaud a left leaning speaker on Question Time calling for higher wages for workers. Bizzare mindsets - they in theory want a good and properous society yet at the same time seek out bargains and lo lo prices that have the direct effect of reducing incomes, paternity rights and pensions.0 -
There is no such a thing as free banking. We already pay through the nose for it as most current accounts receive no interest or infinitesmal at best. We deposit our money in a bank with which they make tons of money giving us nothing in return.
The real question should be, what is the real cost of banking to us as customers, not to the banks.0 -
Stick your money under the bed if you feel they provide you a valueless service.
I take it you call for workers to enjoy good incomes and paternity pay - so you should surely be more than happy to pay business in order that society enjoys such benefits. This money saving lark has a real cost for real people all over the world. Stop penny pinching and value the work others provide.
A lot of my self employed clients detest the fact some people seem to expect them to work for little. These which magazine types are no doubt the very same that would applaud a left leaning speaker on Question Time calling for higher wages for workers. Bizzare mindsets - they in theory want a good and properous society yet at the same time seek out bargains and lo lo prices that have the direct effect of reducing incomes, paternity rights and pensions.
Trouble is we are in a deflating society as far as disposable income is concerned. The good and prosperous boat just drifting away."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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