Bank of England and FED publication - Scary

Thrugelmir

russell_anderson wrote: »

I think it would be supported by an overwhelming majority of people in the UK although not by the charletons in the Commons and Lords who purport to represent us!

Only applies to Companies listed on the Swiss stock market. So doesn't cover the large overseas corporations with Swiss operations.

kidmugsy

russell_anderson wrote: »

The more cautious put money into bank accounts precisely because they don't want to lose it

Yes, but people seem reluctant to understand that when they deposit money in a bank account they have lent that money to the bank and have therefore become creditors. It's a bank not a vault.

Spiro_Alchemist

srcandas wrote: »

Surely people will just spread their money around. It will be common place to have 20 savings accounts. And people like me will build websites that look after them all for you. I feel a second career coming on

I agree with this appraisal of the issue having about 25 accounts at the mo, securing some safety in risk-adverse mutuals will be the way to go but they are also clamping down on new members unless you are a local within their business locations. Am a bit worried about a very big wedge well above many times over the current secure limits I have locked up in Santander on a fixed with a further year to go !

Porcupine

kidmugsy wrote: »

Yes, but people seem reluctant to understand that when they deposit money in a bank account they have lent that money to the bank and have therefore become creditors. It's a bank not a vault.

Indeed, but it's a bit much to expect Grandma to perform a solvency risk calculation on the bank before she deposits her weekly pension. If you make her do that, she'll stash it under the mattress instead. Where she doesn't do a risk calculation either.

People are bad at calculating risks. So we shouldn't force that on people, some of whom are barely numerate. The main thing is they are saving full stop.

Possibly one route is for banks to make clear to customers who hold more than £85K with them that they are at risk. But of course they won't like to do that.

moneyfoolish

innovate wrote: »

Well, we have votes, don't we?

In future, only vote for MPs who promise us swiss-style exec remuneration legislation within 6 months of the new government being formed.Withhold all votes until there is a party that promises this.
Topple the government that promises it but doesn't implement it as promised.

There would be an exodus of so-called "talent" for a while, and good riddance to most of them. If countries like the UK joined the anti-fat-cat motion, there would soon be a global re-alignment of exec pay. To the better of everything.

May be I should emigrate to Switzerland. Shame they have such strict immigration laws, lol.

I couldn't agree more. Sadly, I don't believe one word that anyone of them tells me whichever party they represent. They break promise after promise and have no integrity at all. We've got politicians and "captains of industry" doing nothing more than lining their own pockets at one end and animals like this crowd who have just killed 6 of their own children in an attempt to get even more money for doing nothing at the other end! What a bloody world we live in!