Posts Tagged ‘Royal Bank of Scotland’

The six executives responsible for Co-op Bank’s troubles | Business | #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 |

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?

Drop in business loans raises doubts over funding for lending scheme #surprised #commonsense

Drop in business loans raises doubts over funding for lending scheme | Business | The Guardian.


Here we go, another example of how much the authorities are out of touch with the real economy, the real world and real people in the UK.


Common sense, good bank, bad bank.




Loans (Photo credit: zingbot)



Nat West Bank fraud department #commonsense #rbs #bank #losttheplot

April 19, 2013 Leave a comment


I’m writing this in an attempt to reach out to somebody at Nat West Bank, which as a UK tax payer and customer, I have a vested interest in.

I received an automated message this morning from the ‘fraud’ office, regarding certain transactions on my account and was asked to enter my birth date.

Now to be honest, I can’t standing talking to a machine at the best of times. Press 1 for music, press 2 for more music, enter details on the keypad, more music, speak to a customer advisor and then confirm all the details I just entered on the keypad. It just doesn’t work for me.

Hence the chances of me entering my birthdate on a machine that purported to be Nat West Bank fraud department, are about as high as Tony Blair and Gordon Brown apologising for the mess they left this country in.

So I called the telephone number on the back of my debit card, rapidly pressed hash, star, 1, 2, 3, 4 etc etc and got put through to customer services. The lady put me through to the fraud department where I confirmed my details and several recent transactions.

As everything was now ok, the fraud department informed me that my card would be unlocked within the next few minutes.

Finally I asked him which transactions had been identified as ‘suspicious’

And this is my point……he replied “I don’t know that information, the computer just throws up random transactions”

So my understanding is that a machine has been programmed to look for suspicious transactions but it would seem that only the programmer know what these transactions are!

Shame the programmer wasn’t around when Sir Fred (gilt-edged pension) bought out ABN Amro Bank in October 2008

Commonsense, get some of it before it’s too late #natwest #fraud #rbs #bank

Since writing this article, in a further twist of fate, I received a letter from Nat West with whom I have had a bank account and credit card for 30 years.

The letter invites me to inform the bank of my christian name as they only have my initial and surname on record. Failure to do this will result in the suspension of my credit card!!! It’s frankly too much for words, just laughable!

What are you doing Nat West?

Have you gone completely mad? #getagrip #commonsense

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.

Another kick in the teeth for the ‘prudent’ UK taxpayer #banks #ppi #ponzi

November 4, 2012 Leave a comment

Royal Bank of Scotland InternationalJersey Fra...

Royal Bank of Scotland InternationalJersey Français : Jersey (Photo credit: Wikipedia)

So let me get this right. Tax payer owned banks, Lloyds and RBS have set aside further monies to cover the great PPI misselling scandal.

My understanding of PPI is that it was sold to the mainly meek and innocent, those without much financial nouse. So the chances are that if you are middle class England, with half a brain and some financial knowledge you probably aren’t exposed to PPI and as such have nothing to claim back.

You are the same person that is a stakeholder in both these banks, by default  and you are witnessing your prudence being rewarded by a Ponzi scheme run by the government, whereby your taxpayer funds are being returned to the weak, meek and innocent who bought PPI and probably don’t pay a lot of tax either.

So how does this make you feel?

Cheated by those who trumpeted the cause of prudence for years and years and then disappeared having feathered their pension pots.

Common sense, if you are middle class England, expect to be milked.

Where next for banking #banks #RBS #Lloyds #Barclays

Understanding Financial Leverage

Understanding Financial Leverage (Photo credit: Wikipedia)

So now what?
Barclays and RBS to name but a few have been found out for rate fixing. The likes of JP Morgan have been lying to shareholders. MF Global and PFGBest have been stealing funds from their customers. It’s going to be a hard act to clean up the City.

Next move I expect, will be the reversal of the trend in the 1980’s. Financial organisations will be split into their component parts. A retail bank will be just that. A bank that borrows money from savers and lends out the same money to others at a higher rate. This is called “Margin.” These banks will be dull, boring and their share prices will be stable. Above all else however they will be SAFE. The bank will lend money against secured assets and it’s management will be prudent and earn a modest salary.

Then there will be the ‘racy’ investment bank. It will play with other people’s money and rack up huge positions in derivatives. If the position goes right, the trader will get a bonus and the shareholders will see their asset appreciate.

In the event of armageddon the punters will lose out but critically, the average man in the street won’t suffer. The prudent tax payer will no longer be punished and thousands of honest employees won’t be dragged into the mire.

Common sense, you know it’s where we need to get back to.