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Posts Tagged ‘Bank’

The six executives responsible for Co-op Bank’s troubles | Business | guardian.co.uk #savers


English: Walshaw, old Co-op At the junction of...

English: Walshaw, old Co-op At the junction of High and Bank Streets. According to the plaque, part of Bury District Co-operative Provision Society, 1891. Department names above the windows are butcher, news room, clogger and grocer. Part of the building is now occupied by engineers. (Photo credit: Wikipedia)

The six executives responsible for Co-op Bank’s troubles | Business | guardian.co.uk.

Another hit for savers as they are ‘bailed in’

No tax payer money will be used to rescue the bank, but if you are a tax paying pensioner, you lose out whatever happens?

Wonder if those responsible will be held to account financially?

Basel III and acronyms #GHOS #LCR #HQLA #athhb

January 7, 2013 Leave a comment

Press_release

Bank

Bank (Photo credit: 401(K) 2013)

As world bankers attempt to secure their jobs for another few years, the Basel III project has successfully produced more acronyms and watchwords for people to spout off at their morning meetings.

The crux of it seems to be that the LCR will not be as onerous as originally planned and will be phased in over a much longer period of time, by which time everyone will have forgotten why it’s there!

No doubt in 20 or 30 years time from now, some bright up and coming banking analyst will highlight the hidden ‘value’ that is represented in the banking sector, as they will be sitting on billions worth of assets and cash that they don’t need anymore for the financial Armageddon that will never, never be repeated again…

Common sense, send BASEL III back to where it belongs #dustbin

For those of you, who don’t know #athhb is an acronym for ‘after the horse has bolted’

Time to put Basel III where it belongs…..#ecb #banks #spiral #stagnation #unemployment

November 26, 2012 6 comments

European banks urge one-year delay for Basel III rules | Reuters.

Loan

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.

RBS branches may focus on business #lightbulbmoment #howlong #vincecable #genius

November 20, 2012 Leave a comment

Light Bulb

Light Bulb (Photo credit: CraftyGoat)

RBS branches may focus on business – Title1.

What a novel idea!

See my post dated 13th March 2012

Common sense, don’t run the country without it.

Bankia to get emergency funds by mid-September

September 4, 2012 Leave a comment

English: Logo of the Trademark Bankia Español:...

English: Logo of the Trademark Bankia Español: Logo de la marca Bankia (Photo credit: Wikipedia)

Bankia to get emergency funds by mid-September.

Oh dear oh dear.

Another Euro 5bn of taxpayer funds disappearing down a black hole. The shambles that is the euro crisis lingers on and on.

The solution?

Break up the euro currency. Let diverging economies diverge again.

Nationalise the banking system, stick all the rubbish loans into a bad bank for our great great great great grandchildren to sort out.

No chance of this happening anytime soon because apparently the break up of the Euro will be a disaster for us all. Alternatively, the euro could remain and Germany could just leave?

Savers have hit for £70bn as printing money ‘helps rich’ admits Bank of England #behindthecurve #BOE #eurocrisis

August 24, 2012 1 comment

The Bank of England in Threadneedle Street, Lo...

The Bank of England in Threadneedle Street, London. Deutsch: Sitz der Bank von England in der Londoner Threadneedle Street. (Photo credit: Wikipedia)

Even in recession the rich get richer: Savers have been hit for £70bn as printing money ‘helps rich’ admits Bank of England | Mail Online.

A staggering admission from The Bank of England, leaves the average reader totally dumbfounded as to why there is no change in direction over monetary policy.

Evidently, according to our great leader at The Bank

‘Without the Bank’s asset purchases, most people in the United Kingdom would have been worse off. Economic growth would have been lower. Unemployment would have been higher. Many more companies would have gone out of business. This would have had a significant detrimental impact on savers and pensioners along with every other group in our society.’

Well to be honest, if The Bank keeps up the same policy, that is exactly where we are heading, into a deeper and deeper downward spiral.

Common sense, put up interest rates NOW!