Why Do Banks Get All The Blame?

sheffield_lad

CLAPTON wrote: »

the tiny tax (bringing in £100billion) would of course be passed on to consumers ........

You may be right but how would most consumers be involved in investment banks? The big banks so do dabble but not on the scale of the others.

I just can't do this sharing with our Euro chums bit.

The irony is France really wanted it and for a change we held our ground.

gagahouse

howee wrote: »

You may be right but how would most consumers be involved in investment banks? The big banks so do dabble but not on the scale of the others.

I just can't do this sharing with our Euro chums bit.

The irony is France really wanted it and for a change we held our ground.

Uk has veto power over that financial tax proposal and by using it it will ensure that all the business comes its way instead of Europe. Basically a non starter as EU would collect and spend the levy costing UK many many billions.

CLAPTON

howee wrote: »

You may be right but how would most consumers be involved in investment banks? The big banks so do dabble but not on the scale of the others.

I just can't do this sharing with our Euro chums bit.

The irony is France really wanted it and for a change we held our ground.

basically all costs are passed to the end user i.e. to the consumer; who else is there to pay?

TruckerT

howee wrote: »

Tell me why for 80yrs things run relatively well?

IMHO, it took that long for the banks to push their activities beyond acceptable limits

It is 'human nature' to push for individual gain, but mostly we recognise the risks which we are taking, and pull ourselves back from the brink

I still hold the somewhat charitable view that the banks probably didn't not fully comprehend their own stranglehold on the Capitalist system until they failed, and then found that they could tap into unlimited government support

They now continue to ruthlessly exploit their strength, and need to be put down

TruckerT

StevieJ

AliceJenkins wrote: »

I'm not going to be the most popular person posting this but here goes...

Why is is that all we hear is everything's the banks fault and "the rich".

The financial crisis was caused by people borrowing what they couldn't afford to pay back. Of course the banks have some responsibility, but surely a much larger responsibly lays with those who borrowed more than they could afford to pay back?

Should the banks ever be responsible for nannying everyones finance, surely the buck stops with those who borrowed?

Then we move onto blaming the 'rich' who pay more tax than anyone in a £ amount yet use less services and get less back(private healthcare etc).

Opinions?

I take it you didn't receive those masses of leaflets through the door, cajoling and seducing people people into borrowing more than the could afford, in fact I remember one case where one of the CC companies handed out a card to someone living rough on the streets. Then we have those slimey mortgage salesmen in the US using their forked tongues to create a new acronym all of their own NINJA.

StevieJ

howee wrote: »

Well said Alice, Tesco's sell whiskey but its not their fault if customers buy too much whisky and don't know there limits.

Not a very good example as Tesco will have banked the profits on sale, alcohol abuse or not whereas the banks will have to write off dodgy loans and take a loss.

sheffield_lad

Steve we all didn't take up the offers though did we? The leaflets went in the bin. If you went down town and the barman offered you a free drink you would take it wouldn't you? I would but when the offer of another and another and another came I would walk away and buy a kabab lol,

People saying its the fault of the banks for too much lending should question why they have to be held responsible, yet if they did/do pick and choose people accuse them of not lending!!

StevieJ

Simple question, RBS share price 2007 - £7, now 25 pence :eek: Tell me who should the shareholders of that bank blame, The Directors or The Customers?

heathcote123

AliceJenkins wrote: »

I'm not going to be the most popular person posting this but here goes...

Why is is that all we hear is everything's the banks fault and "the rich".

The financial crisis was caused by people borrowing what they couldn't afford to pay back. Of course the banks have some responsibility, but surely a much larger responsibly lays with those who borrowed more than they could afford to pay back?

Should the banks ever be responsible for nannying everyones finance, surely the buck stops with those who borrowed?

Then we move onto blaming the 'rich' who pay more tax than anyone in a £ amount yet use less services and get less back(private healthcare etc).

Opinions?

This might get a bit more debate on the bankruptcy board.

AliceJenkins

StevieJ wrote: »

I take it you didn't receive those masses of leaflets through the door, cajoling and seducing people people into borrowing more than the could afford, in fact I remember one case where one of the CC companies handed out a card to someone living rough on the streets. Then we have those slimey mortgage salesmen in the US using their forked tongues to create a new acronym all of their own NINJA.

Yeah I also get the ones from the Jehovah witnesses, you don't see me joining them, though do you?