bank lending

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fiferalfa2 fiferalfa2
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bank lending

here we are again the banks lost money taking high risk gambles with savers money i appreciate not all banks were involved but those that have been bailed out ought to be made to help our small businesses instead of paying ridiculous bonuses to executives who could not do their job properley no wonder there are more small firms going the big losses came from overseaes investment and were tocic loans
nigelkembrey nigelkembrey
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Hear hear, they cant lend on the one hand because of the losses , but they can pay huge bonuses to the idiots who lost the money. The country needs the banks lending to businesses ,without this the economy CANNOT  recover.
As I said before they are part of the problem and not part of the solution.
nigelkembrey nigelkembrey
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In reply to this post by fiferalfa2
Some interesting stats emerged yesterday, bank lending to business was down by 100 Billion in the last 12 months. Yes, just a measly 100 billion ie they have left our businesses out to dry.
We shouldnt be surprised all the money has drained out of the system with balance of payments deficit continuing at 100 billion a year , just a measly 200 billion sucked out of the economy.

More significant , Mervyn King ex chief of Bank Of England says he saw the collapse coming and could do nothing because Labour took away his powers in 1997 and he was left with preaching sermons. He said he did just that but nobody wanted to listen and he wishes he had shouted from the rooftops to make them listen better.
Peter. C Peter. C
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Nigel,,


Hindsight is a wonderful thing, but this does not Excuse Marvyn Kings lack of SHOUTING FROM THE ROOFTOPS!!
Peter C
johnc_9 johnc_9
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Re: bank lending

We shout from the ballot box but are still ignored by politicians from all sides who have their own agenda..
John Kelly John Kelly
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In reply to this post by Peter. C
Peter C

Mervyn King is a charlatan, having served on the Bank of England's Monetary Policy Committee since its inception in 1997 and in his later years as Governor he would have been aware of the impending collapse of the toxic US mortgage bubble as far back as 2002/3 but did nothing.

At the end of the day the Governor of the Bank of England is appointed by the Government of the day, as such his role is subservient to the Government and its policies, it is only now that his retirement is imminent that he has chosen to speak out effectively during his time in office he has protected his income and pension by not being overly critical of the nations fiscal viability
fiferalfa2 fiferalfa2
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Hi john
             we should not have bailed the banks out without cast iron guarantees about salary and future lending to small companies but the government of the day just like this one do not care about the electorate the money is not theirs why should they bother just let foreign investors take what they want as usual
David A David A
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I agree with you fiferalfa, governments interfere with the markets at their peril. Bad banks should be answerable for their actions - Gordon Brown was on another planet when he mortgaged GB plc, with the bailout of Northern Rock and subsequently. Now that Santander is in difficulty because of Spain's parlous borrowing state, the whole pack of cards is in difficulty.
David A
nigelkembrey nigelkembrey
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The downfall of the banks in the UK all goes back to deregulation in 1997. New Labour were power freaks who had to control everything, taking away the bank of englands powers gave them the powers , the powers to do nothing whilst the banks lent insanely creating Mr Browns greatest illusion, the strong economy and feel good factor.
3 UK banks , each with balance sheets larger than the entire UK GDP. Is there anything more insane than that ?
Now the people have voted and want this useless group of thugs back in government. For me its too much. I think I will return to Brazil in September.
fiferalfa2 fiferalfa2
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Labour or conservative it makes know difference to us they are sll frightened to take the money men on red ed is tied to the unions as george is tied to big business no one carescabout the man in the street we are just a bit above being in a communist dtste
David A David A
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In reply to this post by nigelkembrey
Despair not. Your heart is in the right place, as is mine, and we can both live in exile, until Boris sweeps to victory! London Mayor again, is just the start! - I hope Cameron heeds the warnings he has been given, and embarks on a major reshuffle of his cabinet with the emphasis on restoring the faith of the man and woman in the street and putting Britain first, which must review important matters like citizen's rights, Atlantic alliances, and unwanted aliens on our shores living off the long suffering taxpayers - oh, yes, and putting Londoners first when it comes to the forthcoming Olympic Games, and removing London's image as the rip-off city of the world!
David A
nigelkembrey nigelkembrey
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In reply to this post by fiferalfa2
Its big business that makes the money to pay the man in the street.
Big business is very important and you shouldnt forget that. If we dont nurture big business back then the poor will get poorer.
That is one thing that the tories understand, so you cannot criticise the tories for that.
There is plenty of things you can criticise them for, but that is not one of them.

Nurturing big business back is the only way the UK can claw itself out of the black hole it is in. We have to start making things again on a grand scale.

Unfortunately the banks balance sheets are so crippled by the crass greed of the last 15 years of insanity that they dont have money to lend as they did before. The crime is that they still have money to pay fatcats like the Barclays chairman Bob Diamond 2.6 million in bonuses after all that has happened. He shouldnt receive one penny in bonuses. The bank has overlent just like all the others, its failing the UK economy recovery by refusing to lend to business, and its earning massive profits ( from which the fatcats get their bonuses) by ripping off retail clients who are finding it tough to make ends meet.
fiferalfa2 fiferalfa2
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Sorry nigel i disagree this government were responsible through maggie thatcher for the downfall in ALL our big businesses steel coal shipbuilding she intended to let us the working class know our place ever since then we have suffered and as for big business paying the man in the street is that what you call the pittance most people get as a wage while those so called big business men and anyone on over 100,000 per year set up companies to pay their wages into to dodge paying tax and insurance when they should have the decency to do so
Peter. C Peter. C
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Re: bank lending

In reply to this post by nigelkembrey
Nigel,

I agree that the government should be "Nurturing" big business but nurturing is a far cry from bending over backwards and allowing Big Business to bully, blackmail and threaten the people into submission.

All this threat from big business and banks to pull out the the UK if they are not allowed their own way and pay extortionate wages and bonuses is intolerable to the man & woman in the street.
I get what you say without them the man & woman in the street have nothing.

However, big business and bankers need to remind themselves they are well paid individuals but can never be our "Masters".
They should show "Restraint" in their utterly obscene rewards to themselves, by all means they should be paid very well but within reason!!
Peter C
nigelkembrey nigelkembrey
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Of course peter, that goes without saying.
nigelkembrey nigelkembrey
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In reply to this post by fiferalfa2
Fifer, if I were an employer , no disrespect but I would not employee you. There is no place in industry today for the militant union dinosaurs that destroyed all our industries in the 1970,s and the last thing I would want would be somebody spreading discontent on the shopfloor.
Business should be the friend of the worker and there is no reason it should not be , the worker needs to do his best for the company and in return the company needs to do his best for the worker.
When the worker shows contempt and hatred for business and employers I dont know how you can be happy in work or find a good employer.
I dont mean to insult you or be rude but I think thats the reality of life today.
Peter. C Peter. C
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Nigel,

No "Disrespect" to you but I have to take you up your comments to Fiferalfa.......

You said......

"Fifer, if I were an employer , no disrespect but I would not employee you. There is no place in industry today for the militant union dinosaurs that destroyed all our industries in the 1970,s and the last thing I would want would be somebody spreading discontent on the shopfloor."

So your philosophy to "Silence" the working classes who "Dare" to speak out and speak up for "Fairness" and "Rights" is to Not Employ or Sack people because the "Dared" to speak freely.

Yet you said to my post above where I said........

"They should show "Restraint" in their utterly obscene rewards to themselves, by all means they should be paid very well but within reason!!"

Your reply was.....

"Of course peter, that goes without saying."

If these "Greefy" big businesses and bankers were to show "Restraint" on paying themselves utterly obscene wages and bonuses, then shared to profits more fairly all the way down the chain to the cleaners etc etc

Then their would be much less call for industrial action from the "Grunts" on the shop floor where the real hard graft is done to produce the goods that generate the huge profits that then pay for the managers all the way up the chain of command to the CEO but never seem to filter below Management level.

Until this is addressed there will always be conflict between management and shop floor workers.

The best example I can give of profit sharing is within "John Lewis" if the John Lewis model was to be enforced in every company and business there would probably never be industrial action nor would you have described Fiferalfa in these terms..........

"There is no place in industry today for the militant union dinosaurs"

"the last thing I would want would be somebody spreading discontent on the shopfloor."

Nigel, you said you meant no "Disrespect" to Fiferalfa, in my humble opinion you could not have shown anymore "Disrespect" to anyone who is prepared to stand up for "Fairness" within and company or industry.

You forget that people never chose to strike and lose wages for no good reason, it usually an extreme set off circumstance to make working people lose money.


Peter C
fiferalfa2 fiferalfa2
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Re: bank lending

In reply to this post by nigelkembrey
Nigel no offense taken but you show me abig business that is good and does not take advantage of its workforce then maybe we would get somewhere and when i was talking about the unions what i ment was they also take advantage of their workers very seldom do we see an agreement without some sort of industrial action being taken which is not always necessary and if you think you would be better of in brazil so be it
nigelkembrey nigelkembrey
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In reply to this post by Peter. C
Peter, respect has to work both ways and fifer shows an attitude and hatred for big business that belonged to the arthur scargill thugs that destroyed our companies in the 1970,s.
I was just being honest, because  there is no room for that in the modern world.
You cannot give your best for an employer if you hate them, let alone be happy.
nigelkembrey nigelkembrey
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Fifer I worked my first 20 years for a bank that exploited me and finally took away my final salary pension scheme , Bob Diamonds Barclays Bank , he got his 2.6 million bonus for all the exploiting this year, nobody has been more exploited than me. I know all about shit employers believe me.
That does not change my opinion that there must be a partnership between the employee and the employer that works both ways. I know many employers that value their employees and treat them very well. In the real world of business, wages and benefits are driven by the profits of the company and the world markets.
The rhetoric you use is not something an employer wants to hear, a return to the 1970,s is not a solution, its tough out there for companies, there is companies going bankrupt every day, and I hate to say this but in the new world of harsh reality for business, there needs to be cuts in wages and benefits if we are to survive and return to competing in the world markets. The british are too highly paid compared to the rest of the world.
I know you will now go off on one , and what I wrote is shocking for you, but unfortunately its also the position we find ourselves in. I will try to live on around £12,000 this year.
The UK has lived way above its means for the last 15 years thanks to the banks unlimited credit , but now we have to live below our means to claw our way back and its going to be painful.
That is why I said there needs to be a complete rethink about the tax system and there needs to be a partnership between the governemnt and the employer to try to protect the poor as much as possible from the times that are coming.
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