Sorry Halifax
17 September 2008, 02:15 PM
#61
Scooby Regular
Join Date: Oct 2003
Location: Runway two seven right.
Posts: 6,652
Likes: 0
Received 0 Likes
on
0 Posts
Sorry but top bankers are like the rest of us. Greedy. 99% of us would do the same thing, if we were in the same position.
It's get what you can while you're there. If your holding the parcel when the money stops, well it's tough luck old boy, but you've been suckling at the teat of the money cow for a while. Off you go to spend your money.
Until someone regulates this industry propery, until shareholders realise that you cannot keep growing exponentially and increasing profits and dividends year upon year, this will go on and on.
And 99.9% of us will suffer the consequences.
It's get what you can while you're there. If your holding the parcel when the money stops, well it's tough luck old boy, but you've been suckling at the teat of the money cow for a while. Off you go to spend your money.
Until someone regulates this industry propery, until shareholders realise that you cannot keep growing exponentially and increasing profits and dividends year upon year, this will go on and on.
And 99.9% of us will suffer the consequences.
17 September 2008, 02:19 PM
#62
Scooby Regular
iTrader: (2)
Join Date: Apr 2004
Location: Somewhere in Kent, sniffing some V-Power
Posts: 15,029
Likes: 0
Received 0 Likes
on
0 Posts
Sorry but top bankers are like the rest of us. Greedy. 99% of us would do the same thing, if we were in the same position.
It's get what you can while you're there. If your holding the parcel when the money stops, well it's tough luck old boy, but you've been suckling at the teat of the money cow for a while. Off you go to spend your money.
Until someone regulates this industry propery, until shareholders realise that you cannot keep growing exponentially and increasing profits and dividends year upon year, this will go on and on.
And 99.9% of us will suffer the consequences.
It's get what you can while you're there. If your holding the parcel when the money stops, well it's tough luck old boy, but you've been suckling at the teat of the money cow for a while. Off you go to spend your money.
Until someone regulates this industry propery, until shareholders realise that you cannot keep growing exponentially and increasing profits and dividends year upon year, this will go on and on.
And 99.9% of us will suffer the consequences.
It's ok saying that 'oh it's safe, your money is insured', yea, until all the insurance firms go bust!
17 September 2008, 02:20 PM
#63
Scooby Regular
iTrader: (1)
Join Date: Dec 2006
Location: Central Scotland
Posts: 3,687
Likes: 0
Received 0 Likes
on
0 Posts
EDIT response wasn't to chrispurvis as that tactic is cleary rubbish unless anyone is planning on unemployment and homelessness in the future.
It isn't £4bn per bank it is £4bn so moving elsewhere is pointless because the whole sector is the same. The banks lend off credit, they lend to each other and then lend it to you at a higher rate but always owe more than they actually have, i think most keep abotu 30% liquidity (money they can get their mits on) so if a debt is called in or defaulted then they can't pay back what they owe. Quite simple. Building Societies tend to operate off savings and a much higher liquity level but they are still struggling because the credit markets (bank to bank borrowing) has just dried up Banks need their money. Taking it out and putting it under the mattress does make things worse.
anyway,
good and appropriate article
5t.
EVERYONE MAKING EVERYTHING WORSE, ALL THE TIME
EVERYONE needs to shut it right now because they are making everything worse, according to a new report.
With experts stressing the previous paragraph will not have helped in the slightest, everyone was asked to button it for the rest of the week before we all talk ourselves into a urine soaked cardboard box.
Henry Brubaker, of the Institute for Studies, said: "If I was to string together four random letters such as H, B, O and S and then repeat them several times with increasing alarm, a bit like this - HBOS, HBOS! HBOS!! HBOS!!!! the share price of something called 'HBOS' will drop by around 40%.
"I have no idea what 'HBOS' is but I have a very strong suspicion that I have just made everything substantially worse.
"Similarly, when the BBC carries a newsflash about the market dipping below 5000 for the first time in three years and then talks about it for 20 minutes as if the Duchess of Kent has just exploded, that has the effect of making everything much worse, even though no-one can remember filling their underpants with dung just three short years ago."
He added: "Again, if I was the chancellor of the exchequer and I suspected Britain could be facing its worst economic crisis in 60 years, the absolute last thing I would do is actually say that, because - strangely enough - that would just make everything much worse.
"Meanwhile, whenever a cabinet minister says Gordon Brown is the 'best person to lead the country', everyone's immediate reaction is to say, 'that's obviously not the case'. This is a textbook example of making everything much, much worse.
"Instead the minister should say, 'yes, he's an absolute ****ing tool, but for Christ's sake so am I'.
"This causes a profound shift in perceptions from 'getting worse' to 'can't get any worse'. I call it Brubaker's Theory of Optimal ****ness."
EVERYONE MAKING EVERYTHING WORSE, ALL THE TIME - The Daily Mash
It isn't £4bn per bank it is £4bn so moving elsewhere is pointless because the whole sector is the same. The banks lend off credit, they lend to each other and then lend it to you at a higher rate but always owe more than they actually have, i think most keep abotu 30% liquidity (money they can get their mits on) so if a debt is called in or defaulted then they can't pay back what they owe. Quite simple. Building Societies tend to operate off savings and a much higher liquity level but they are still struggling because the credit markets (bank to bank borrowing) has just dried up Banks need their money. Taking it out and putting it under the mattress does make things worse.
anyway,
good and appropriate article
5t.
EVERYONE MAKING EVERYTHING WORSE, ALL THE TIME
EVERYONE needs to shut it right now because they are making everything worse, according to a new report.
With experts stressing the previous paragraph will not have helped in the slightest, everyone was asked to button it for the rest of the week before we all talk ourselves into a urine soaked cardboard box.
Henry Brubaker, of the Institute for Studies, said: "If I was to string together four random letters such as H, B, O and S and then repeat them several times with increasing alarm, a bit like this - HBOS, HBOS! HBOS!! HBOS!!!! the share price of something called 'HBOS' will drop by around 40%.
"I have no idea what 'HBOS' is but I have a very strong suspicion that I have just made everything substantially worse.
"Similarly, when the BBC carries a newsflash about the market dipping below 5000 for the first time in three years and then talks about it for 20 minutes as if the Duchess of Kent has just exploded, that has the effect of making everything much worse, even though no-one can remember filling their underpants with dung just three short years ago."
He added: "Again, if I was the chancellor of the exchequer and I suspected Britain could be facing its worst economic crisis in 60 years, the absolute last thing I would do is actually say that, because - strangely enough - that would just make everything much worse.
"Meanwhile, whenever a cabinet minister says Gordon Brown is the 'best person to lead the country', everyone's immediate reaction is to say, 'that's obviously not the case'. This is a textbook example of making everything much, much worse.
"Instead the minister should say, 'yes, he's an absolute ****ing tool, but for Christ's sake so am I'.
"This causes a profound shift in perceptions from 'getting worse' to 'can't get any worse'. I call it Brubaker's Theory of Optimal ****ness."
EVERYONE MAKING EVERYTHING WORSE, ALL THE TIME - The Daily Mash
17 September 2008, 02:26 PM
#64
Scooby Regular
iTrader: (1)
Join Date: Aug 2005
Location: Manchester ish
Posts: 18,547
Likes: 0
Received 0 Likes
on
0 Posts
"Similarly, when the BBC carries a newsflash about the market dipping below 5000 for the first time in three years and then talks about it for 20 minutes as if the Duchess of Kent has just exploded, that has the effect of making everything much worse, even though no-one can remember filling their underpants with dung just three short years ago."
17 September 2008, 02:58 PM
#66
Scooby Regular
Join Date: Feb 2006
Location: Going further than the station and back !!! ZZZZZZZZZzzzzzzzzzzzz
Posts: 11,097
Likes: 0
Received 0 Likes
on
0 Posts
as posted above, its the savers queing up to withdraw that will spiral HBOS problems oiut of proportion.
they have made enough profit in the past 2 years to ride this one out easily !!!
get the jerry cans ready, petrol is going up 1p !!! lol
having said that, its the op's money and decision and i respect that.
hope for all our sakes it doesnt start and scoobynet panic!!!! lol
i spent £50 on absolutely nothing in tescos at the weekend !!!
they have made enough profit in the past 2 years to ride this one out easily !!!
get the jerry cans ready, petrol is going up 1p !!! lol
having said that, its the op's money and decision and i respect that.
hope for all our sakes it doesnt start and scoobynet panic!!!! lol
i spent £50 on absolutely nothing in tescos at the weekend !!!
17 September 2008, 03:12 PM
#71
Scooby Regular
Join Date: Feb 2003
Location: Location: Location:
Posts: 2,848
Likes: 0
Received 0 Likes
on
0 Posts
17 September 2008, 03:22 PM
#72
Scooby Regular
iTrader: (1)
Join Date: Aug 2005
Location: Manchester ish
Posts: 18,547
Likes: 0
Received 0 Likes
on
0 Posts
Dont know to be honest but it wouldnt surprise me but realistically not many would be in the position to do so (if you could afford to pay it off then you wouldnt have it in the first place)
17 September 2008, 03:39 PM
#75
Scooby Regular
Join Date: Apr 2007
Location: location, location, location
Posts: 1,458
Likes: 0
Received 0 Likes
on
0 Posts
yep, they have done that to me before - demanding that I take out a loan there and then to clear it! A loan is different though isn't it? Not sure if they could just turn round and say the want it sorting out - If you had the cash sitting there, you wouldn't need the loan in the first place!!
17 September 2008, 03:43 PM
#78
Scooby Regular
Join Date: Apr 2007
Location: location, location, location
Posts: 1,458
Likes: 0
Received 0 Likes
on
0 Posts
17 September 2008, 04:06 PM
#84
Scooby Regular
Join Date: Aug 2000
Location: God's promised land
Posts: 80,907
Likes: 0
Received 0 Likes
on
0 Posts
17 September 2008, 04:25 PM
#86
Scooby Regular
Join Date: Sep 2006
Location: Worthing..
Posts: 7,575
Likes: 0
Received 0 Likes
on
0 Posts
Depends on the circumstances. If, say, you have a loan of £10,000 and you were paying back £300 per month, then you could continue to pay back £300 and there is not a thing the bank could do. It would never get to court. On the extremely chance that it did, a Judge would see your situation and rule in your favour.
It woul dof course go to court if you owed X amount, and you refused ot pay a single penny. But if you offer a reaonable (and by that I mean reasonable to *you* not to *them*, then it will not go to court)
The only time any sort of unsecured loan can result in anything being forcibly taken from you, is when you have gone to court, and arranged a repayment amount, and you then default on that CCJ.
It woul dof course go to court if you owed X amount, and you refused ot pay a single penny. But if you offer a reaonable (and by that I mean reasonable to *you* not to *them*, then it will not go to court)
The only time any sort of unsecured loan can result in anything being forcibly taken from you, is when you have gone to court, and arranged a repayment amount, and you then default on that CCJ.
17 September 2008, 04:43 PM
#87
Scooby Regular
Join Date: Aug 2000
Location: God's promised land
Posts: 80,907
Likes: 0
Received 0 Likes
on
0 Posts
That's a good question. It seems there are new bullets to dodge every day still, and while that persists, things won't improve. Banks are wary of lending to anyone at the moment, the US investment houses especially. There's no real trading going on, just liquidity movements. The cost of money is now absolutely ridiculous, and not sustainable. The Fed have announced a bill programme to help (although that will probably only be used to shore up AIG, FNMA, FMAC), and the Bank of England have extended their SLS scheme till January next year.
Which is all well and good. But what it doesn't do is restore confidence, that's what's lacking. The knives are still out. Nobody trusts anyone. Look at Morgan Stanley - currently under $19 per share, and that is a damn good company. But when your cost of default is trading at 750bps, people are understandably very nervous about whether they'll get their money back. It's a vicious circle.
I don't think we've seen the end of this by any means. I think we'll see a few more casualties before there's a collective "enough is enough". For the man in the street, money will just keep getting more expensive, so if the UK isn't in recession now, it almost certainly will be anytime soon. I'm not sure if there's a single event which will put an end to all this, ten people will give you ten different opinions to that. But it can't continue like this, that's the only real certainty. I'm not sure if we haven't already seen worse than the Wall Street Crash now, albeit in a slightly different way. Banking won't be the same again, that's for sure, not for a long time. All very ugly, but ironically, mostly of its own doing.
17 September 2008, 04:51 PM
#88
Scooby Regular
Join Date: Aug 2003
Location: Sheffield; Rome of the North
Posts: 17,582
Likes: 0
Received 0 Likes
on
0 Posts
The first worthwhile reply in the whole three page thread!
Thank you for taking the time to answer.
Thank you for taking the time to answer.
Last edited by GC8; 17 September 2008 at 07:52 PM.
17 September 2008, 04:55 PM
#89
Scooby Regular
Join Date: Dec 2004
Posts: 2,490
Likes: 0
Received 0 Likes
on
0 Posts
And the government wants to double my road tax next year just to really give me a final kick in the goolies but save a daisy.
As John Humphreys said to that minister spouting on about the wonderful eleven years of growth we have had "But at what a cost".
It really does all seem to be imploding
As John Humphreys said to that minister spouting on about the wonderful eleven years of growth we have had "But at what a cost".
It really does all seem to be imploding