Banks! - Page 7

WillowTheWhisp · 16-10-2008, 17:37

Quote:

Originally Posted by jambutty

Another note to shareholders – when you bought shares in a company you became part owner of that company. As part owner you are entitled to a share in the profits but the other side of the coin is that you are also responsible for any losses that you should make good.

That's a very interesting point.

As for being dischuffed that there aren't going to be any dividends - how naive can they be? If the banks they had invested in had gone bust there wouldn't have been any shares at all never mind dividends!

steeljack · 16-10-2008, 17:46

Quote:

Originally Posted by jambutty

Another note to shareholders – when you bought shares in a company you became part owner of that company. As part owner you are entitled to a share in the profits but the other side of the coin is that you are also responsible for any losses that you should make good.

.

Was there not something like this a few years back with LLoyds of London , (the insurance brokers) seem to remember that more than a few had to dig deep into their pockets to come up with funds to cover some big claims , think the boxer Henry Cooper got his fingers burnt .

jaysay · 17-10-2008, 09:44

Quote:

Originally Posted by steeljack

Was there not something like this a few years back with LLoyds of London , (the insurance brokers) seem to remember that more than a few had to dig deep into their pockets to come up with funds to cover some big claims , think the boxer Henry Cooper got his fingers burnt .

You mean the Lloyds names SJ, there was more than Cooperman that got his fingers burnt

Tealeaf · 17-10-2008, 15:12

Quote:

Originally Posted by jambutty;
[FONT=Times New Roman

As part owner you are entitled to a share in the profits but the other side of the coin is that you are also responsible for any losses that you should make good.[/FONT]

You never heard of limited liability, Jambutty? Shareholders are not responsible for losses.

What an idiot.

jambutty · 18-10-2008, 08:21

Quote:

Originally Posted by jaysay

You mean the Lloyds names SJ, there was more than Cooperman that got his fingers burnt

Lloyds of London names are a different animal to shareholders.

Lloyds of London is a British insurance market. It serves as a meeting place where multiple financial backers or ‘members’, being corporations and individuals (known as names), come together to pool and spread the risk.

jambutty · 18-10-2008, 08:48

Quote:

Originally Posted by Tealeaf

You never heard of limited liability, Jambutty? Shareholders are not responsible for losses.

What an idiot.

The limited liability applies to a company regardless of whether there are outside shareholders or not. A newsagents or a one man/woman plumbing/electrical/builder business can be a Limited Company that issues 2 shares, usually at a nominal fee of £1. One share is usually held by the owner of the business, who also holds the title of CEO and the other is held by a family member who holds the title of Company Secretary. Any debts incurred by that business are limited to the business’ value.

http://www.ukcorporator.co.uk/limited_companies.php#lc_01

In any case I never said that shareholders were RESPONSIBLE for losses. I said, “As part owner you are entitled to a share in the profits but the other side of the coin is that you are also responsible for any losses that you should make good.”

Maybe I worded it wrong? On the other hand other readers understood what I meant.

My point was that if shareholders accept dividends they SHOULD also accept liabilities. Sadly that is not the case.

The only idiot round here is yourself for engaging in the infantile pursuit of trying to gain “Brownie points”.

jaysay · 18-10-2008, 09:10

Quote:

Originally Posted by jambutty

Lloyds of London names are a different animal to shareholders.

Lloyds of London is a British insurance market. It serves as a meeting place where multiple financial backers or ‘members’, being corporations and individuals (known as names), come together to pool and spread the risk.

Quite aware of that JB, its just that SJ mentioned Lloydes, and I merely said that these financial backers were known as names, aware they're not shareholders

Haggis316 · 18-10-2008, 10:23

I was emailed this Addams Family spoof video take on the Credit Crunch by a financial letter I am signed up to:

iBall - The City without a suit

jaysay · 28-10-2008, 10:32

Quote:

Originally Posted by jambutty

For years in times aplenty the shareholders have enjoyed dividends beyond their wildest dreams and the fat cat bosses scooped huge bonuses.

Now when the banks are going through severe times, times of their own making I might add, shouldn’t the shareholders and fat cats prop them up and not we tax payers?

Only this morning I received a letter from Barclays (I have never had an account with Barclays) offering me an unsecured loan of up to £10,000 and of course a credit card.

Has Barclays learned nothing?

I have just had letter from my own bank Lloyds TSB offering me a £18000 loan, and if I need more just give them a ring and they're sure they'll be able to help. The mind boggles

Wynonie Harris · 28-10-2008, 13:37

Quote:

Originally Posted by jaysay

I have just had letter from my own bank Lloyds TSB offering me a £18000 loan, and if I need more just give them a ring and they're sure they'll be able to help. The mind boggles

Take it...it's economically sound thinking to run up big debts...Gord says so!

jaysay · 28-10-2008, 17:12

Quote:

Originally Posted by Wynonie Harris

Take it...it's economically sound thinking to run up big debts...Gord says so!

Well if the all knowing one says its okay then why knot then, but wait a minute, he might want to run up massive debts, but I sure as hell don't, think I'll pass Wynonie