Reply to: Bankernomics

[AtW]

Don't think HSBC were bailed out. I recall they sent someone junior to a meeting with the Government because they didn't want a bailout. The chairman had taken some stick previously for being too cautious and went on a world tour after the crash explaining how he was right all along.

HSBC wasn't directly bailed out, however indirectly if most of banking system fallen down without bailout of key players then HSBC would not be doing particularly well either.

LTSB was also very conservative and had it not been coerced to buy Halifax then it would not need direct bailout, but it would also fold if big banks lost all money and business customers of those banks had to layoff people who had HSBC loans on which they'd default.

[BigRed]

Don't think HSBC were bailed out. I recall they sent someone junior to a meeting with the Government because they didn't want a bailout. The chairman had taken some stick previously for being too cautious and went on a world tour after the crash explaining how he was right all along.

[ASB]

It's correct - bailout of weaker banks that folded before them in effect bailed them ALSO.

They benefited from cheap money from BoE (and the Fed), who do you think is paying for all that - Santa Claus?

Thats one way of looking at it I suppose.

I recall you thought you were wrong about something once. But it turned out you were mistaken.

[AtW]

So leave and send them a nice letter informing them that their rectal passage is the good and proper place for their business.

I think I'll send them a letter to say that they are far more professional than LTSB Merchant services - those guys actually earned their bonuses, but I reckon they probably not getting much of that as they are actually doing proper bank job where as casino department that gambles with client (ours included) money ...

[Mich the Tester]

SKA Ltd is a business client of Barclays, paying them good money, so yes, it's got a lot to do with me

So leave and send them a nice letter informing them that their rectal passage is the good and proper place for their business and that their biological status is lower than the nematode worms that have been making such a mess of the Murrayfield rugby pitch. It won't change things, but it will give you and others a warm fuzzy feeling inside when you post the unpleasant and hopefully rather graphic letter on their website's front page.

[AtW]

I didnt say they were not bailed out. They were. But you said they were bailed out by the taxpayer. I believe that statement to be incorrect.

It's correct - bailout of weaker banks that folded before them in effect bailed them ALSO.

They benefited from cheap money from BoE (and the Fed), who do you think is paying for all that - Santa Claus?

[ASB]

Yes Barclays would have fallen alongside with other banks if those banks were not bailed out - RBS, LTSB - also one big insurance company in USA which was bailed out by US Govt and that apparently was used to insure some of the triple-AAA quality tulip paper they had.

Without cheap money from BoE they would have gone bust also - right now every taxpayer and just saver is supporting banks by getting FA interest where as banks have margins they could not have dreamed of during "good years".

I didnt say they were not bailed out. They were. But you said they were bailed out by the taxpayer. I believe that statement to be incorrect.

[AtW]

You sure? Qatari gov and the fed. Didnt think they took anything from uk government. Might have though.

Yes Barclays would have fallen alongside with other banks if those banks were not bailed out - RBS, LTSB - also one big insurance company in USA which was bailed out by US Govt and that apparently was used to insure some of the triple-AAA quality tulip paper they had.

Without cheap money from BoE they would have gone bust also - right now every taxpayer and just saver is supporting banks by getting FA interest where as banks have margins they could not have dreamed of during "good years".

[AtW]

It's up to Barclays isn't it? Why is it any of your business?

"But the harshest words came from the Institute of Directors, whose corporate governance director Roger Barker asked "for whom is this institution being run?" after the bank paid out £2.4bn in bonuses but just £860m in dividends to shareholders. The bank disputes that figure, but refused to say exactly how much it is paying out to shareholders, which has been complicated by last year's £5.8bn rights issue, forced upon Barclays by the Bank of England to boost its financial strength."

Barclays condemned over £2.4bn bonuses | Business | The Guardian

Ok, in your own words, VectraMan, what is the business of IoD to have same view as mine on the matter???

2.4 bln bonuses to staff that is already pretty well paid, 0.86 bln dividends to shareholders, just WTF is going on there? The other way around would have been ok (maybe).

The bank is apparently refusing to say how much it paid to shareholders (owners of the company!) and that comes from a PLC!!!

Name me ANY other industry where such crazy stuff can happen?

Only EPL comes to mind, but that's not an industry anymore - playground for some people with a lot of unearned income (plus very rare businessman type - ie Glazers).

[ASB]

It's up to Barclays shareholders actually.

I am a potential shareholder, so if current shareholders want their stock to be more attractive they should deal with this crazy situation.

Barclays was bailed out by taxpayers just like all other banks via cheap BoE money and direct bailout of other banks which would have taken them down also had they been allowed to fall.

You sure? Qatari gov and the fed. Didnt think they took anything from uk government. Might have though.

[AtW]

Me and MyCo are also customers of Barclays. Personally I'm quite pleased to be with a bank that hasn't gone bust in the recent past.

I give them that their merchant services are FAR more professional than LTSB from which we moved.

They would have gone bust if other banks were not bailed out.

[VectraMan]

Me and MyCo are also customers of Barclays. Personally I'm quite pleased to be with a bank that hasn't gone bust in the recent past.

[AtW]

So nothing to do with you then?

SKA Ltd is a business client of Barclays, paying them good money, so yes, it's got a lot to do with me

[BrilloPad]

I am a potential shareholder

So nothing to do with you then?

[AtW]

It's up to Barclays isn't it? Why is it any of your business?

It's up to Barclays shareholders actually.

I am a potential shareholder, so if current shareholders want their stock to be more attractive they should deal with this crazy situation.

Barclays was bailed out by taxpayers just like all other banks via cheap BoE money and direct bailout of other banks which would have taken them down also had they been allowed to fall.