Banking Industry

Riq

Definitely.

They haven't done anything to worry me, or annoy me.

Go Halifax!!

setmefree

What does concern me is the Government has now said that failing Banks will be funded by secret deals with the Bank Of England,obviously this is to stop a repeat of the Northern Rock saga,but yet if a member of the public struggles,the ranks are pulled on them straight away,no more credit and words such as you only have yourselves to blame.
Many people are now struggling with debt,and house repo's are high,these people lose the lot,but yet the banks can be bailed out why.

setmefree

bump any more views

Mark7799

setmefree wrote: »

What does concern me is the Government has now said that failing Banks will be funded by secret deals with the Bank Of England,obviously this is to stop a repeat of the Northern Rock saga,but yet if a member of the public struggles,the ranks are pulled on them straight away,no more credit and words such as you only have yourselves to blame.
Many people are now struggling with debt,and house repo's are high,these people lose the lot,but yet the banks can be bailed out why.

Because a collapse in the Banking sector can have a major effect on the UK economy.

Fedz

Big difference between borrowing on an individual basis and borrowing and lending to thousands/millions.

When banks borrow money this has to be repaid - even NR.

The fact still remains as an individual you have to take responsability for your own actions - you can't expect to borrow thousands and not repay it :rolleyes:

masonic

Yes. In fact I wouldn't open a bank account with any other industry.

setmefree

Mark7799 wrote: »

Because a collapse in the Banking sector can have a major effect on the UK economy.

so what you are saying is the little person doesn't matter, but the big boys boys must be protected

setmefree

Fedz wrote: »

Big difference between borrowing on an individual basis and borrowing and lending to thousands/millions.

When banks borrow money this has to be repaid - even NR.

The fact still remains as an individual you have to take responsability for your own actions - you can't expect to borrow thousands and not repay it :rolleyes:

so then why does all the reports say that it will be the tax payer who foots the bill, is that lies

Mark7799

setmefree wrote: »

so what you are saying is the little person doesn't matter, but the big boys boys must be protected

No.

Banks by their nature will have people who have money invested in them by other individuals. If a bank has, say, 1 million investors and 4 million borrowers then the bank being allowed to fail may cause hardship to 1 million people. One of the reasons for this policy, and the existence of the Deposit Protection Scheme is to protect 'the little person' who may have entrusted their life savings to the Bank.

setmefree

Mark7799 wrote: »

No.

Banks by their nature will have people who have money invested in them by other individuals. If a bank has, say, 1 million investors and 4 million borrowers then the bank being allowed to fail may cause hardship to 1 million people. One of the reasons for this policy, and the existence of the Deposit Protection Scheme is to protect 'the little person' who may have entrusted their life savings to the Bank.

Good point
But surely if the Banks invested wisely in the first place,then there would be no need to require financial help, a worker has a mortgage based on lets say three times his annual income, then his hours get cut in half due to lack of business with the company he works for.he can no longer pay his mortgage,so long term his property gets repossessed, i don't see no one helping him.