mrtheedge2u2

Darling in further bank bail-out - , - Latest news & weather forecasts - MSN News UK

I just can not help but think that we are throwing good money after bad money...........

I do not see how this will make a difference.......

eg.. a friend went to Alliance and Leicester for a mortgage. He had a 200k deposit and they said no that all money set aside to provide mortgages in 2009 had already been used up.

FlightMan

Tell your friend A&L have done him a favour.

The house he's interested in will be 15 - 20% cheaper in Jan 2010.

Timwinner

iTrader: (3)

publicly subsidized, privately profitable... Makes you feel upset doesnt it.

There needs to be some strong hand tactics, Pass on interest rate cuts for a start, Whats the point in having a rate cut that is going to be artificially inflated by a questionable inter bank lending scheme.

f1_fan

iTrader: (9)

No you're right, we should just let the banking system collapse.

mrtheedge2u2

I am gonna open a bank and f*ck everyone over and sit there laughing when the government give me all your money.....

If I was the government I would talk to HSBC and ask them if they fancy part owning all the other banks.... if HSBC can seem to make it work, then there is no reason the others can not.

stilover

Most of the money the Government pumped into the banking system last time has just been horded by the banks.

Why are we giving them even more? Lend the money given to you first time round.

Can see income Tax rising substantially by the next elected Government to pay for all this.

EddScott

Do you mean that in jest or is that your actual feeling?

Not all banks will collapse if nothing is done. Some will fail but most will be swallowed up by those that can buy them.

Continually pumping good money into a system thats always doomed to fail is a complete waste of time.

fivetide

iTrader: (1)

The last report i saw said the costs so far for the measures undertaken (including the VAT cut) is equal to £10,000 for everyone in the country.

Why not just give everyone 10k? Those that want to save it will bank it (which is what the banks want, savings. Those that don't will go out and buy stuff like cars and big TVs etc which is what the government want.

5t.

Leslie

Can anyone explain why the banks are not prepared to lend the money that they have been given. Why is the government not able to tell them to get on with it. What are they actually doing with our taxes which the Goverment gave them anyway?

Les

mrtheedge2u2

because the banks enjoy sleeping on big piles or money and paying their executives collosal salaries and bonuses, and how can they do that if they lend us our own money

FlightMan

As I understand it, the money the banks had before Christmas was to stop them going BOOM! This tranche of cash is to enable them to start lending again.

I think people are getting too hung up on the money. Frankly I doubt that many people understand what's going on anyway. Have a look at this;

where does money come from - Google Video

I want to know when prosecutions are going to be brought against senior people in the banking industry. IMHO this country faces it's greatest crisis since 1962 when we were hours away from nuclear war. No-one is talking about the bankers who got us in this mess, with irresponsible short termism and frankly criminal practices.

stilover

To be fair to the Banks though, the government are wanting them to go back to 2007 lending figures. Which means lending to those that, if interest rates rise, they won't be able to afford their mortgage repayments.

It would also mean 100%+ mortgages, as house prices are still over valued.

Should be 3.5 x wage. End of.

House prices would never have got to silly values, and people wouldn't be in the sh*t they are now.

J4CKO

iTrader: (1)

5t, without giving it much thought, that sounds like a much better idea !

EddScott

A country built on debt only has a finite lifespan. People can only borrow so much, there are only X number of people who can borrow, endless bail outs won't work because all you do is prolong the point at which everything comes to a stop.

I suspect that Labour will continue to prolong the final crunch point and then call an election. They will lose, the Conservatives will gain power whether they like it or not, the country will explode financially and Labour will blame the Conservatives and come the next election they will get back in power because the masses won't realise they've been scammed.

Not that I give a monkeys who is in power because its quite out of their control.

Leslie

I must admit that that had crossed my mind.

I understand what stilover is saying though and agree with his sentiments.

Les

lozgti

I was expecting to see a stock market bounce with all these new bank help plans.

Its down and the banks seem the most down.

I think there is more bad news to come.I thought everyone had aired their dirty laundry and then you hear about another 8 billion pounds of debt.

David Lock

You can see the downward spiral though

I think the banks are finding it hard to find companies to lend to who are a good risk. No point in lending money to say, JCB to help them build new diggers if no one is going to buy them and export market is down the tube despite falling pound.

I almost felt sorry (I did say almost) for Darling squirming on Radio 4 this morning.

But if this latest ruse doesn't work then UK really will be in the S H I T. dl

SunnySideUp

I saw today that the debt is about to rise to £900bn ....... the UK gets £550bn in taxes each year.

Holy sh*t .... that made me stop and think!

The Government also said that we would NOT go into recession when the figures are released this week ...... if we don't then the Government deserves a massive big pat on the back as the rest of the world are in one!

Petem95

How the hell is this all going to end?!! The bailout seems crazy, but to be honest the government cannot let the banks collapse, as the whole 'system' would then collapse and we'd be in chaos.

The worry is the banks are basically bankrupt, and will just keep needing bailouts - but can the government actually afford to keep bailing or nationalise all the banks?! This is all done with borrowed money remember...

Defo scary times - seem to be in a downward spiral here. God knows where this mess will end.

unclebuck

It's the end game. The communists in Britain, EU and of course about to come to power in the US will finish us all. There will be a rich global communist elite with the survivors as their debt slaves keeping them in the finery they are used to.

The UK ans any aspirations you or your children may have had for the future is finished.

hoskib

iTrader: (1)

i'm confused, i thought we were already in a recession? and to be fair have been as good as in one for a long time ie don't really make anything to sell to other countries, everything is on the never never. just kidding ourselves everything is hunky dorry

takes me back to listening to some guy about 3 years ago saying we were basically a third world country, we sure don't seem alot better off.

BRIT AID

seriously though, why does it seem the government are hell bent to getting us back to high house prices, loads of spending beyond our means etc, when this is what's got most of us in the pooh right now?

EddScott

My brother works in Gibraltar and all the guys where he works who deal with money (proper money) say that UK is a dead loss and won't touch it.

To be fair, if you look at the FTSE it has stabilised some what. From the point of the markets, the bad debt has been taken into account with the re-pricing. Bit like the .com bubble but much much worse.

Things don't have to get better before a turn around can occur - things just have to stop getting worse.

SunnySideUp

Wise words

JTaylor

Brilliant film this, don't forget there are 5 parts. Here are some notes by the producer for anyone who's interested.

Money as Debt : Producer's Comments

I wonder if Brown and his counterparts oversees deliberately hastened the credit crunch via under regulation. Give the system enough rope to hang itself, let certain institutions disappear and bring others under the Governments banner to usher in a new monetary system in which the Government controls credit and relinquishes the chosen few of their 300 year domination of the globe's finances.

mrtheedge2u2

I looked into it and it appears the government has spent 37 billion pounds of real money already and the 200 billion will be used in backing loans, so will not actually be giving it unless loans are defaulted on