Banks! - Page 4

derekgas · 14-10-2008, 06:55

The government (I think) have apparently removed some higher bodies from the banking system, but one of them leaves with a £580,000 pension!! And many people are forgetting which party started all this shareholder/privatisation/money grabbing debacle! I am pretty sure this has been on the cards since the days of maggie! And either none of the two main parties realised (which is laughable) or they chose not to do anything about it (which is even more laughable), I said earlier, i have no sympathy for the greedy letches who have earned billions over the years, and now are crying because they have lost little in comparison.

derekgas · 14-10-2008, 07:03

I have just been informed that our bank has issued 3 direct debits twice! How much fun will we have trying to sort that out? No surprise that some are in trouble, they are always making mistakes! pee up and brewery syndrome methinks!

entwisi · 14-10-2008, 08:22

Posted via Mobile Device

DD's ar dead easy to sort. You tell the bank to refund them under the DD guarantee and they must do so that day.

Then its up to the originator to request them again.

bTW, its not likely to be the bank at fault here as DDs are pulled by the company asking for money not the bank making a 'set' payment.

Please make sure you blame the right people

WillowTheWhisp · 14-10-2008, 10:06

Can we please just try to get our facts right too before mouthing off about councils hoarding spare cash that they should have been using for our benefit and hiding the fact from residents.

Councils receive money on an irregular basis. Some of it comes in monthly from people who pay their council tax monthly. Some of it comes in in lumps from people who pay their council tax all at once when they get the bill. Some of it comes in (I think) twice a year from central government. Councils pay out money on a regular basis in things such as wages, and on an irregular basis for things such as repair bills. That's just me simplifying the picture.

So it follows that there are times when councils have large sums of money apparently doing nothing but all ear-marked for something. Like when it looks like we've got a healthy bank balance before all the DDs come out. So what do they do with this money Do they leave it in £5 notes in a drawer in the council offices? Do they pay it into a non interest bearing bank account or do they do, as central government advised them to do, put it into a higher interest paying bank in order to make it work for them until they needed it and this reduce the burden on council tax payers?

Now if all had been jogging along smoothly and none of these Icelandic banks had gone belly-up we'd have had people moaning at councils for not putting money in them. This is nothing to do with greed or hoarding or secret keeping from local residents and everything to do with councils trying to do what they deemed best and not having the power of Mystic Meg to foresee that it was going to turn sour.

MargaretR · 14-10-2008, 10:42

....on a lighter note - some good jokes produced by the current mess
BBC NEWS | Business | Your credit crunch jokes

jaysay · 14-10-2008, 10:56

Quote:

Originally Posted by WillowTheWhisp

Can we please just try to get our facts right too before mouthing off about councils hoarding spare cash that they should have been using for our benefit and hiding the fact from residents.

Councils receive money on an irregular basis. Some of it comes in monthly from people who pay their council tax monthly. Some of it comes in in lumps from people who pay their council tax all at once when they get the bill. Some of it comes in (I think) twice a year from central government. Councils pay out money on a regular basis in things such as wages, and on an irregular basis for things such as repair bills. That's just me simplifying the picture.

So it follows that there are times when councils have large sums of money apparently doing nothing but all ear-marked for something. Like when it looks like we've got a healthy bank balance before all the DDs come out. So what do they do with this money Do they leave it in £5 notes in a drawer in the council offices? Do they pay it into a non interest bearing bank account or do they do, as central government advised them to do, put it into a higher interest paying bank in order to make it work for them until they needed it and this reduce the burden on council tax payers?

Now if all had been jogging along smoothly and none of these Icelandic banks had gone belly-up we'd have had people moaning at councils for not putting money in them. This is nothing to do with greed or hoarding or secret keeping from local residents and everything to do with councils trying to do what they deemed best and not having the power of Mystic Meg to foresee that it was going to turn sour.

Absolutely Willow stop on karma on its way

andrewb · 14-10-2008, 11:02

Quote:

Originally Posted by derekgas

The government (I think) have apparently removed some higher bodies from the banking system, but one of them leaves with a £580,000 pension!! And many people are forgetting which party started all this shareholder/privatisation/money grabbing debacle! I am pretty sure this has been on the cards since the days of maggie! And either none of the two main parties realised (which is laughable) or they chose not to do anything about it (which is even more laughable), I said earlier, i have no sympathy for the greedy letches who have earned billions over the years, and now are crying because they have lost little in comparison.

Now isn't the time to blame capitalism. Lets blame those that failed to regulate the banking sector, because we had a damn sight better regulation before the Bank of England Act 1998 was introduced. People have been able to borrow far too much, and banks, bankers, have been allowed to lend far too much.

Markets are not perfect. They need careful regulation, which they have lacked under Brown/Bush. They are considerably more perfect than state ownership however.

jaysay · 14-10-2008, 11:04

Quote:

Originally Posted by MargaretR

....on a lighter note - some good jokes produced by the current mess
BBC NEWS | Business | Your credit crunch jokes

mothernature · 14-10-2008, 12:46

Wonder how the Swiss banks are doing?

polly · 14-10-2008, 13:07

I think we need to think about the ethics of BRITISh councils investing in foreign banks
Maybe if they had kept their money in the country of origin UK banking would have been stronger.
The reason for foreign investment is clearly to earn a few extra bob in interest but as we have seen investment is always a gamble and gambling is always risky especially in a foreign market.

As someone who pays council tax in this country I would like to see my money stay in the country

MargaretR · 14-10-2008, 13:26

There is an article in the Lancs Ev Telegraph where HBC are congrtaulating themselves for using a bank in Ireland instead of Iceland.

WillowTheWhisp · 14-10-2008, 14:04

So how do you define a British bank?

Tealeaf · 14-10-2008, 14:53

Look on the bright side. Since taking a majority share in RBS, we the taxpayers are now proud owners of over a thousand pubs, numerous hotels, hospitality boxes, railway rolling stock, the biggest bank in Holland (well, a third of it), a corporate jet or two and numerous other assets. I think some deal should be arranged with the first of these on the list. I don't even know what HBOS and LLoyds TSB have on their asset register.

jambutty · 14-10-2008, 14:58

Quote:

Originally Posted by WillowTheWhisp

So how do you define a British bank?

What about one that has its headquarters in the UK?

Benipete · 14-10-2008, 15:30

Banks decided to become Building Societies and Building Societies decided to become banks.
That was fine for me because I was in some of both.
But greed took over,Salesmen got their commission and then left us all in the mire.
Of course me being the font of all knowledge had long departed and am now even as you read this living the life of Riley.