Bank Watch ...

Mean Mr Mustard · Post by **Mean Mr Mustard** » 12 Sep 2012, 22:54

It's perhaps worth pointing out that bank retail deposits are covered to £85k, while investments are only covered to £50k.

My choices would be Co-op and Nationwide. Beyond that, maybe National Savings, which is HM Treasury? That will be for the portion between £170k and £245k, you understand...

Or maybe a credit union...? Or the number 2 Swiss Account perhaps.

Strange goings on with Santander though eh, especially if its spooking the savers. Every saved pound withdrawn can't be lent under fractional reserve ratios, so a few hundred thousand walking out the door could have a massive credit crunch style impact.

And as those few with some savings deplete them wherever they stash them, through eating into capital with low interest to pay the fuel bills, then that will reduce credit in the economy anyway.

But those in debt - half of UK households - might have more immediate concerns.

JohnB · Post by **JohnB** » 12 Sep 2012, 23:20

Tarrel wrote:What's interesting about the Santander experience is the fact that they feel the need to plaster the information all over the windows.

Apparently it's a new requirement for all banks. There was a bit on Money Box on Radio 4 about it redently, and how none of the banks were actually doing it.

Mean Mr Mustard · Post by **Mean Mr Mustard** » 17 Sep 2012, 09:06

Mean Mr Mustard wrote:It's perhaps worth pointing out that bank retail deposits are covered to £85k, while investments are only covered to £50k.

My choices would be Co-op and Nationwide. Beyond that, maybe National Savings, which is HM Treasury? That will be for the portion between £170k and £245k, you understand...

Or maybe a credit union...? Or the number 2 Swiss Account perhaps.

So I just checked out the NS&I, which is indeed HMT. And I see that they are only in the business of selling paltry ISA accounts and suchlike. But no current plans for lump sum savers. You'd have thought HMG would have wanted the cash, or is it that they can just print it anyway at zero interest, in preference to accepting a ~3% liability?

Bash Street Credit Union was shut, so Number 2 Swiss account it is. Must rush, the Learjet is idling.

RenewableCandy · Post by **RenewableCandy** » 18 Sep 2012, 17:25

Sorry, I've just stumbled on some numbers...

JHK wrote:The Fed will spend $40 billion a month in money created out of thin air to buy non-performing mortgages from banks eager to dump them

I hadn't realised it would go on, month after month...
(Oh do keep up, etc...)

Snail · Post by **Snail** » 30 Sep 2012, 00:21

INTERNATIONAL MONETARY FUND (IMF)
HEAD OFFICE NO: 2001 ATTAH CRESENT,
APAPA LAGOS-NIGERIA.

I am Mr. BILL SCOTT a highly placed official of the International Monetary Fund (IMF). It may interest you to know that reports have reached our office by so many correspondences on the uneasy way which people like you are treated by Various Bank across Europe to Africa and Asia London UK, and we have decided to put a STOP to that and that is why I was appointed to you here in Nigeria.
...
You can as well call me as soon as you send the e-mail so that you will be given an immediate response, I hope this is clear.

Just received this nice email from Mr Bill Scott (an important person from the IMF). Looks like the Banksters may finally be getting reined in.

SleeperService · Post by **SleeperService** » 30 Sep 2012, 09:30

Good to see the IMF are cutting costs as well. Moving from Washington DC to Lagos must have saved a fortune in office costs and wages as well as bringing more money into Nigeria. I never thought they had a social conscience

The thought of Banksters doing time in a Nigerian Jail has made my Sunday morning

nexus · Post by **nexus** » 30 Sep 2012, 09:42

Mmmmmm, yes, lets savor that thought.

UndercoverElephant · Post by **UndercoverElephant** » 29 Nov 2012, 17:30

http://www.bbc.co.uk/news/business-20540693

UK banks may need more capital, Bank of England says

Do they, Merv? Got any more surprises for us?

JohnB · Post by **JohnB** » 29 Nov 2012, 18:14

I hope that before the banks get any more benefit payments, they will be forced to move out of their luxury offices, into something barely adequate to work in, located somewhere inconvenient to them, and whatever they get is rather less than they need to survive without a struggle. Or does that just apply to benefit claimants without power and influence?

RenewableCandy · Post by **RenewableCandy** » 29 Nov 2012, 18:15

He's got just the one word wrong there. It should say "people" instead of "banks".

biffvernon · Post by **biffvernon** » 29 Nov 2012, 21:53

Alternatively, as they say in Iceland, "We bailed out the people and put the bankers in jail".

UndercoverElephant · Post by **UndercoverElephant** » 13 Dec 2012, 12:17

Homeless, destitute ex-banker sleeping in park in Croydon:

http://www.bbc.co.uk/news/uk-england-20704588

RenewableCandy · Post by **RenewableCandy** » 13 Dec 2012, 16:13

Interesting that his marriage broke up on the way down. I wonder if, in general, very rich people and/or those with a lot of business "drive" have less of what is today called "empathy" than yer average Brit?

Or else if it's just a put-up job and he's going to sell the film rights for millions

?

extractorfan · Post by **extractorfan** » 13 Dec 2012, 16:18

RenewableCandy wrote:Interesting that his marriage broke up on the way down. I wonder if, in general, very rich people and/or those with a lot of business "drive" have less of what is today called "empathy" than yer average Brit?

Funny, my guess was she was really sexy and only in it for the money. I mean, I know one shouldn't judge...

RenewableCandy · Post by **RenewableCandy** » 13 Dec 2012, 16:34

Precisely. I am neither sexy nor in it for the money. And it's perfectly possible that, for not-unrelated reasons, I am (mentally at least) more resillient than these types.