Reply to: Saving the banks poll

[expat]

HMG are responsible because they have allowed this profligacy over the past decade. I was discussing this subject with friends almost two years ago and suggesting that credit controls should be tightened because it was obvious that people were living beyond their means and remortgaging to pay debts. It should not have been beyond the wit of New Lie and the regulators to see this bust looming.

As compared with the Tories, famous for prudent regulation of business?

ISTM that actually the offending deregulation took place during the reign of The Blessed Maggie.

[Cyberman]

OMG you keep excelling your previous trol.... contributions.

Mortgage lenders' profligacy is the fault of the Labour Government? Explain please.


BTW HSBC have loan/deposit ratio about 1.7 IIRC, so they haven't achieved what you suggest.

HMG are responsible because they have allowed this profligacy over the past decade. I was discussing this subject with friends almost two years ago and suggesting that credit controls should be tightened because it was obvious that people were living beyond their means and remortgaging to pay debts. It should not have been beyond the wit of New Lie and the regulators to see this bust looming.

[expat]

In future I would suggest that proper valuations are done on properties to avoid the embarrassment of handing out 1.5 Million pound loans on 100,000 pound houses.

I would also suggest that proof of income and ability to pay the monthly instalments is a prerequisite for a loan, and that banks can only lend what they have in deposits, just like HSBC have achieved.

In other words, lets go back to the days of commonsense when we had a Tory administration and get rid of the current dimwits.

OMG you keep excelling your previous trol.... contributions.

Mortgage lenders' profligacy is the fault of the Labour Government? Explain please.


BTW HSBC have loan/deposit ratio about 1.7 IIRC, so they haven't achieved what you suggest.

[Cyberman]

In future I would suggest that proper valuations are done on properties to avoid the embarrassment of handing out 1.5 Million pound loans on 100,000 pound houses.

I would also suggest that proof of income and ability to pay the monthly instalments is a prerequisite for a loan, and that banks can only lend what they have in deposits, just like HSBC have achieved.

In other words, lets go back to the days of commonsense when we had a Tory administration and get rid of the current dimwits.

[Diver]

I think that all bank staff/Bankers should be forced to pay back all bonuses received in the last two years. and all future bonuses should be held over for a minimum of 5 years assessment to see if they have truly been earned.

[HairyArsedBloke]

A few bankers' heads on spikes at The Tower would soon put the whole financial sector on track... instead, bonuses all round.

Government Ministers

[Bob Dalek]

A few bankers' heads on spikes at The Tower would soon put the whole financial sector on track... instead, bonuses all round.

[expat]

Exactly, the poll is flawed and biased. Investors (i.e. depositors) should loose out and borrowers depts would be written off. Seems fair and capitalist to me. And for that reason I'm out.

OK, investors and depositors are not the same. Investors are the shareholders, they are the bank's owners. Depositors are the bank's customers.

Investors own the bank, until the govt takes it away from them. When it does so, it removes from them the option of holding on to realise any remaining value later. You could say that it compulsorily shorts them.

Oh, and loose out lose out.

[HairyArsedBloke]

Hard working savers.... hmm, I might use that one in my next speech.

But what we want to hear is you say: "On your side". That will make us all feel a lot better.

[Gordon Brown]

Fook em... As long as the hard working savers are protected. Stuff the shareholders... Their risk...

Hard working savers.... hmm, I might use that one in my next speech.

[badger7579]

Fook em... As long as the hard working savers are protected. Stuff the shareholders... Their risk...

[BrilloPad]

I want to vote for whatever atw voted for!

[TimberWolf]

The help for the customers should be limited too. Why should someone with a large deposit with a dodgy bank get the benefits when things go well but are protected when things go bad?

Exactly, the poll is flawed and biased. Investors (i.e. depositors) should loose out and borrowers depts would be written off. Seems fair and capitalist to me. And for that reason I'm out.

[HairyArsedBloke]

The help for the customers should be limited too. Why should someone with a large deposit with a dodgy bank get the benefits when things go well but are protected when things go bad?

[Cyberman]

What will happen is that HMG will gradually nationalise all banks and effectively own most property in the UK for zilch. The spin all along says that it is costing the taxpayer which the stupid average taxpayer believes, so it's a no-brainer for New Lie.