Good Banks ?

Anthorn

I'd say that most people who have left the Co-op Bank or not going there will be trying to go there in 2014/15 if those two giant American Hedge Funds take over. Trying is the operative word.

Those two hedge funds run other large companies and those companies have not been asset-stripped nor run into the wall. Add to that the fact that the Co-op Bank gives them a foot in E.U. Banking and they have the billions to put into it and we have a recipe for expansion. But at the end of the day they can't do what they want with the Co-op Bank, they are subject to regulation.

But in answer to the question none of the banks are good, all of them are evil run by evil bankers who run the economies of the world. I'd say that the only reason why all of them have not hit the news at some point for something or another is that we just don't know about it.

Archi_Bald

Anthorn wrote: »

But in answer to the question none of the banks are good, all of them are evil run by evil bankers

By your logic, the Coop and the two hedge funds are evil as well. Evil enough to save the Coop bank from extinction, and saving the jobs of almost 10,000 people.

Anthorn wrote: »

I'd say that most people who have left the Co-op Bank or not going there will be trying to go there in 2014/15 if those two giant American Hedge Funds take over. Trying is the operative word.

And evil enough for people wanting to bank with the Coop in 2014/15, if I understand correctly what you were saying.

Funny sort of evil.

John1993_2

anotherbaldrick wrote: »

Are there any good sound Banks ? I have been with RBS for 40 years and apart from a few faux pas on their part it has not been too bad, however this latest revelation of them forcing businesses into insolvency to maximise their benefit just about does it for me
http://www.bbc.co.uk/news/business-25077124
The pundits on the forums were saying until recently that the Co-Operative bank were the best one out there.
:eek:

It's an allegation, not a revelation yet. Maybe they have, maybe they haven''t, but iif it helps, look at it this way...

Imagine that RBS have never, ever done anything but the right thing. They've lent to companies who had a decent chance of making a go of iit, tried to keep extending credit when the business might turn around, but then, in the end, had to pull the plug on some that were clearly failing, and of course, had to pull it, sometimes, before it had completely collapsed.

The proximate cauuse of the failure would be the withdrawal of credit, even though the underlying cause would be the failing business. RBS, in this case, would be turning off the life-support machine, not "driving the business into failure", but you can be absolutely sure that some business owners would not see it this way. They'd rage that they would be fine had the bank just kept extending more and more credit, that a turnaround was "just round the corner". Some would claim that it was a conspiracy, and ask their MP to investigate.

The situation, in fact, could look exactly as it currently does. That being the case, is it not a bit strange to assume the worst?

Anthorn

Archi_Bald wrote: »

By your logic, the Coop and the two hedge funds are evil as well. Evil enough to save the Coop bank from extinction, and saving the jobs of almost 10,000 people.


And evil enough for people wanting to bank with the Coop in 2014/15, if I understand correctly what you were saying.

Funny sort of evil.

Of course the Co-op Bank is evil but less evil than others but the future is speculation.

On hedge funds: It could go several ways. I think it's true to say in related cases whether a bank or not the hedge funds buy debt, take part in restructuring and emerge as shareholders. What happens then differs and we have to wait and see. I think that the most difficult partner will be Aurelius. Google it and you'll see what I mean. It goes for a quick profit but doesn't do it by asset stripping but does it by the reselling of its shares to other institutional shareholders mainly the original owners. It was involved in Dubai, Argentina and Ireland and mainly followed the same course of action in each.

But swapping sterile, incompetent management for ruthlessly competent management can't be a bad thing and in the future Co-operative Group could buy back shares. It's not exactly a deceased dodo.

John1993_2

Anthorn wrote: »

But in answer to the question none of the banks are good, all of them are evil run by evil bankers who run the economies of the world.

May I ask, does being subject to these paranoid fantasies make it hard to hold down a decent job?

Anthorn

John1993 wrote: »

May I ask, does being subject to these paranoid fantasies make it hard to hold down a decent job?

Oh dear, you don't have the intelligence and knowledge to contribute to the discussion so you descend to trolling and a personal attack. Your credibility is at risk!

ColdIron

Anthorn wrote: »

Your credibility is at risk!

And yours isn't?

Archi_Bald

Anthorn wrote: »

Of course the Co-op Bank is evil but less evil than others

This could be funny if it wasn't so sad.

I'd love to see your list of criteria by which you determine the evilness of a bank / current account provider.

Let me guess how a bank can reduce their evilness

1. they must have airy-fairy fluffy marketing messaging about being ethical, and babble about democracy
2. they must be able to hide huge black holes for at least 2-3 years
3. they must have a bunch of incompetent Executives
4. they must not be amongst the industry leaders for mortgage, loans and savings interest rates

Anthorn

There is always the reply that is by now standard: The Co-op Bank did not have a hand in bringing down the worldwide economy, did not have a hand in bringing down the U.K. economy, did not ask the government for help to the tune of billions upon billions of taxpayers' money and is not asking for taxpayer's money now.

That's why it's less evil.

anotherbaldrick

John1993 wrote: »

It's an allegation, not a revelation yet. Maybe they have, maybe they haven''t, but iif it helps, look at it this way...

Imagine that RBS have never, ever done anything but the right thing. They've lent to companies who had a decent chance of making a go of iit, tried to keep extending credit when the business might turn around, but then, in the end, had to pull the plug on some that were clearly failing, and of course, had to pull it, sometimes, before it had completely collapsed.

The proximate cauuse of the failure would be the withdrawal of credit, even though the underlying cause would be the failing business. RBS, in this case, would be turning off the life-support machine, not "driving the business into failure", but you can be absolutely sure that some business owners would not see it this way. They'd rage that they would be fine had the bank just kept extending more and more credit, that a turnaround was "just round the corner". Some would claim that it was a conspiracy, and ask their MP to investigate.

The situation, in fact, could look exactly as it currently does. That being the case, is it not a bit strange to assume the worst?

The report alleges that firms not necessarily in immediate financial distress are “engineered” into GRG, sometimes through small technical breaches of loan terms, such as late filing of minor financial information. They are then hit with high rates and fees, which in some cases cause them to collapse, allowing RBS to buy their property and assets on the cheap for the benefit of its West Register property arm.

Good business model for an institution that at the time was under Government support and administration.

Ineptitude of the ShedFred magnitude is well high on the Richter scale but this is criminal activity pure and simple, whoever masterminded the activity deserves a large dose of porridge if claim is substantiated