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How to cause a run on your bank #EU #bonkers #mad #losttheplot #banks #bailin
wm-license-information-description-missing wm-license-information-description-missing-request European stars.svg (Photo credit: Wikipedia)
EU to push for losses on big savers at failed banks: lawmaker | Reuters.
If you needed further evidence that Euro politicians are stark raving bonkers, this must be it.
Basically if you avoided the big financial crisis of the past few years, by saving your money away in a bank, this could be your reward!
How much longer before good bank, bad bank and the state run bank.
Common sense, find a politician with it #couldbeawhile
Related articles
- Revealed: German Banking Fraud Worse Than Nicosia’s, Luxembourg Banking Sector @ 24x Gdp (hat4uk.wordpress.com)
- EU Says Deposits Not Safe From Seizure (greece.greekreporter.com)
- Europe Keeps Missing The Point (businessinsider.com)
French actor Depardieu meets Putin, picks up Russian passport #aurevoir #tax #France #Russia
English: Russian external Passport Русский: Российский загранпаспорт (Photo credit: Wikipedia)
French actor Depardieu meets Putin, picks up Russian passport | Reuters.
As Gerard and Vlad become new best friends, there is one thing that puzzles me. If the tax rate in Russia is 13% what rate of tax do Russian oligarchs living in the Uk pay?
Presumably less than 13%?
Food for thought as you buy your train ticket this morning….
Related articles
- Putin gives French actor Depardieu Russian passport (foxnews.com)
Time to put Basel III where it belongs…..#ecb #banks #spiral #stagnation #unemployment
European banks urge one-year delay for Basel III rules | Reuters.
Loan (Photo credit: Philip Taylor PT)
Basel III is the classic, ‘shutting the stable door after the horse has bolted’
Whilst banks are moronically told to build up their capital bases for the next potential Armageddon, the economy goes into stagnation overdrive. Without bank lending small companies can’t expand and will eventually die, base rates will stay at zero, no money is created from savings wealth and savers will not spend for fear of eroding their capital base.
What is the likelihood of the next Armageddon, nobody saw the last one and it was painfully obvious to all but the regulators.
What is needed is better regulation (not the same as more regulation), common sense lending and higher interest rates. Without these the economy will be stuck in a rut for decades to come.
Related articles
- European banks urge one-year delay for Basel III rules (scooprocket.com)
- Capital shortages, Basel III, and credit crunches (economist.com)
ECB’s Nowotny calls for high-frequency trade ban | Reuters
Deutsch: Ewald Nowotny bei einem Vortrag an der Johannes Kepler Universität, Linz, Österreich (Photo credit: Wikipedia)
ECB’s Nowotny calls for high-frequency trade ban | Reuters.
In an unprecedented act of common sense, Nowotny calls for a ban on HFT. It’s just a shame that he doesn’t have any power to implement the ban.
However, hopefully if the ban is put in place, it will end years of unregulated front running and cheating by investment banks and the now extinct Prop books.
Related articles
- UPDATE 2-ECB’s Nowotny calls for high-frequency trade ban (uk.reuters.com)
- Debt crisis: Fed chairman Ben Bernanke announces QE3 – live (telegraph.co.uk)
- Speed. How high-frequency journalism is like high-frequency trading (nextlevelofnews.com)
Moodys still short of the banking sector? #moodys #banks #pointless
English: RGB version of Moody’s Corporation logo, in blue. (Photo credit: Wikipedia)
Debt crisis: live – Telegraph.
Related articles
- Spain three notches down – Moody’s (rt.com)
Lufthansa to cut 3,500 jobs to reduce costs #austerity #airlines #taxes
Lufthansa World Destinations 1973 (Photo credit: caribb)
BBC News – Lufthansa to cut 3,500 jobs to reduce costs.
As another 3,500 people worldwide join the unemployment queue, Lufthansa partially blames higher fees and government imposed taxes.
It has to be said that taxes related to flying are bordering on the ridiculous.
I recently purchased a ticket from a European hub to the Middle East and paid the following fees (see table)
I have no idea what TPSE is but at 80p it seems like a bargain, perhaps I should have paid for another one?
Anyway, point is, that in their desperate greed for funds, governments are stifling business and creating unemployment. Can’t go on like this forever?
Common sense, don’t buy an air ticket without it.
| Air Passenger Duty |
GBP65.00 |
| Passenger Service Charge |
GBP34.49 |
| Passenger Service Charge (International) |
GBP12.70 |
| TPSE | GBP0.80 |
| Total government, authority and airport charges* | GBP112.99 |
Related articles
- Lufthansa | Still evaluating but 3,000 job cuts rumored (jobmarketmonitor.com)
- Lufthansa Cutting First Class Services in Cost-Saving Exercise (milesmania.wordpress.com)
- Lufthansa plans new budget airline; named Direct 4 You (airliners1.com)
Am I missing something? Why is the tax payer being kicked in the “painfuls” again?
P Football (Photo credit: Wikipedia)
UPDATE 2-Bain grabs Lloyds buyout loans at knockdown price | Reuters.
It’s one thing to want to get rid of your bad assets but quite another to throw them away just for the sake of it. Seems like Antonio Horta-Osorio, is able to justify his salary by doing just this!
You have to ask the question, why is Private Equity a buyer? Answer because they will make money out of the purchase. So what’s the upside for the taxpayer? Has the bank arranged to participate in any further benefits that a future sale of these assets might bring or have they just torn up pound notes?
Common sense, don’t deal with Private Equity without it.
Related articles
- As Romney rises, private equity titans fear spotlight (msnbc.msn.com)
- The Truth About Private Equity (thedailybeast.com)
I’m guessing were not all in it together then?
Deutsche Bank to defer some bonus payouts – source | Reuters
UPDATE 1-Deutsche Bank to defer some bonus payouts – source | Reuters.
People power winning though as Banker bonuses are being scaled back. Next target, Premiership footballers?
