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Tumbling Banks and Financial Institutions

geewizz
Grafter
Posts: 1,125
Registered: 01-08-2007

Tumbling Banks and Financial Institutions

Ha ha ha ha ha ha! Grin
Screw you all. Go and get a proper job.
24 REPLIES
Community Veteran
Posts: 38,251
Thanks: 937
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Registered: 15-06-2007

Re: Tumbling Banks and Financial Institutions

So you think that 5000 staff in London getting sacked with no warning is funny do you.  Sad Sad
geewizz
Grafter
Posts: 1,125
Registered: 01-08-2007

Re: Tumbling Banks and Financial Institutions

Yes.
Oh, not all of them, just the ones who play with other people's money and get paid for it, and those parasites who feed off them.
Moderator
Moderator
Posts: 25,786
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Registered: 14-04-2007

Re: Tumbling Banks and Financial Institutions

I think that one of the problems is the bonuses paid to certain people in the City. The impression this can give is that all people involved in finance in the capital get these bonuses. A bit like all footballers are on telephone number salaries regardless of which division or club they play for.
Customer and Forum Moderator.
Product of the Tyrell Corporation
Community Veteran
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Registered: 30-08-2007

Re: Tumbling Banks and Financial Institutions

Quote from: Strat

A bit like all footballers are on telephone number salaries regardless of which division or club they play for.

Which of course, like the vast majority of footballers, and the vast majority of bank/financial institution workers, are not on huge salaries, they earn much the same as any other "normal" employed person.
Experience; is something you gain, just after you needed it most.

When faced with two choices, simply toss a coin. It works not because it settles the question for you. But because in that brief moment while the coin is in the air. You suddenly know what you are hoping for.
Moderator
Moderator
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Registered: 11-01-2008

Re: Tumbling Banks and Financial Institutions

Someone I know worked in the IT division there and although reasonably well paid wasn't on mega bucks.
I'll pass on your message to his wife and kids. 
link:removed
Moderators note by James_G : Removed comment which could be considered a personal attack. : link:rules
Will Moderate For Thanks
Community Veteran
Posts: 3,789
Registered: 08-06-2007

Re: Tumbling Banks and Financial Institutions

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4766178.e...
So, the Bank of England manages to "find" £25bn to hand out to the banks.
How about letting some of them collapse, and handing the £25bn to the employees in the form of social security.  Ya know - that thing called National Insurance
I think the message is clear - Recessioncredit crunch is upon us and everyone should be tightening their belts.  Those people who benefitted during the incredulous house-price increases by buying second homes to rent out will now have to sink back down to the real world.
Personally, I'd like to see house prices dropping to a realistic level where first-time buyers actually have the opportunity to buy instead of being locked into 50 year mortgages for properties that frankly have never been worth it.
Yes, it's unfortunate that the employees of the Lehman Brothers are now without jobs (although Barclays and  other banks appear to be circling around like vultures to pick off sections of the company).  Perhaps a few more high-profile collapses will encourage the banks to rethink it's entire strategy of borrowing incomprehensible amounts of money off of each other and return to the real world of.. well.. money that actually exists.
B.
dgdclynx
Grafter
Posts: 187
Registered: 05-04-2007

Re: Tumbling Banks and Financial Institutions

What I am worried about this afternoon is the speculators from the hedge funds trying to make HBOS go bust so they can pick up the pieces and make a tidy profit. I dont have much money in the Halifax but I am keeping a close eye on things.
Community Veteran
Posts: 6,111
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Registered: 05-04-2007

Re: Tumbling Banks and Financial Institutions

Well, provided you had £35K or less with them then AFAIK you should be able to claim it back from the FSCS.
Community Veteran
Posts: 3,789
Registered: 08-06-2007

Re: Tumbling Banks and Financial Institutions

Hmm, I wonder if my overdraft with them is safe  Grin
B.
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Tumbling Banks and Financial Institutions

no if they go bust you loose all your claim to assets you have with them  Grin Grin Grin Grin
Community Veteran
Posts: 38,251
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Registered: 15-06-2007

Re: Tumbling Banks and Financial Institutions

That is one reason I use Nationwide who are one of the few building societies/banks who didn't get too greedy.
dgdclynx
Grafter
Posts: 187
Registered: 05-04-2007

Re: Tumbling Banks and Financial Institutions

Lloyds are currently sorting out the details of their takeover of HBOS.
Moderator
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Re: Tumbling Banks and Financial Institutions

Do I get a bonus if I'm with both Undecided
Customer and Forum Moderator.
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pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Tumbling Banks and Financial Institutions

well you used to get £70 000 security, 35 from each now you will only get £35000 as they are both under the same umbrella, Perhaps you should move some of your assets to another bank