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Post by Vinny on Mar 14, 2023 20:09:17 GMT
Savings accounts were created so that you don't have large sums of money in your home, and as a result, you have a layer of protection against burglars.
Savers shouldn't face losing everything.
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Post by bancroft on Mar 14, 2023 20:11:41 GMT
Savings accounts were created so that you don't have large sums of money in your home, and as a result, you have a layer of protection against burglars. Savers shouldn't face losing everything. Currently they protect £85k most people have nothing like except when buying a house and I think there are allowances for that. |
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Post by Baron von Lotsov on Mar 14, 2023 20:14:17 GMT
Savings accounts were created so that you don't have large sums of money in your home, and as a result, you have a layer of protection against burglars. Savers shouldn't face losing everything. Well in that case you would buy an insurance. Banks can do the same. You can insure against practically anything happening if you have the money to do it. |
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Post by Orac on Mar 14, 2023 22:11:12 GMT
Savings accounts were created so that you don't have large sums of money in your home, and as a result, you have a layer of protection against burglars. Savers shouldn't face losing everything. When you put money in a bank, you become a creditor to a business |
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Post by Orac on Mar 14, 2023 22:25:20 GMT
On the other hand, the fed predicted that the inflation was 'transitory' and so they did what they were told.
On the other, other hand, someone who is actually competent wouldn't believe that
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Post by Baron von Lotsov on Mar 15, 2023 12:07:09 GMT
Savings accounts were created so that you don't have large sums of money in your home, and as a result, you have a layer of protection against burglars. Savers shouldn't face losing everything. When you put money in a bank, you become a creditor to a business You do, but if the business goes bust the banks have priority over other lenders. |
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Post by johnofgwent on Mar 16, 2023 10:02:16 GMT
I think people had more than enough of seeing HMGov baling out banks/investors during the last mess. Not a penny. Bad luck, folks - remember that your investment can go down as well as up.. Perhaps you should tell that to the employees of all those client companies that might now not be getting paid. Why should i bail out the employees whose redundancy comes as a result of their employer’s fucking stupid decisions ? Nobody bailed me out when Ferranti’s MD jumped into bed with a twat who illegally sold WMD to Saddam Hussein pretending it was destined for Saudi Arabia, causing the company to tank when tbe greasy arab reneged on his payment schedule. Fuck ‘em |
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Post by sandypine on Mar 16, 2023 10:32:53 GMT
Perhaps you should tell that to the employees of all those client companies that might now not be getting paid. Why should i bail out the employees whose redundancy comes as a result of their employer’s fucking stupid decisions Nobody bailed me out when Ferranti’s MD jumped into bed with a twat who illegally sold WMD to Saddam Hussein pretending it was destined for Saudi Arabia, causing the company to tank when tbe greasy arab reneged on his payment schedule. Fuck ‘em I agree, no one bailed me out when a moratorium on new road construction was undertaken by teh Blair government and massive redundancies ensued. Many times things are not the fault of the individual but they pay the price, sometimes it is the individual and they should pay the price. |
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Post by Orac on Mar 16, 2023 10:38:06 GMT
The bank is politically well connected and that almost certainly formed some part of the reason for special deal. It seems to me that the feds have made an implicit commitment that is not that far away from nationalizing the banks
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Post by Baron von Lotsov on Mar 16, 2023 14:04:27 GMT
Perhaps you should tell that to the employees of all those client companies that might now not be getting paid. Why should i bail out the employees whose redundancy comes as a result of their employer’s fucking stupid decisions Nobody bailed me out when Ferranti’s MD jumped into bed with a twat who illegally sold WMD to Saddam Hussein pretending it was destined for Saudi Arabia, causing the company to tank when tbe greasy arab reneged on his payment schedule. Fuck ‘em Stupid does as stupid do.
The problem here is primarily with US banks, so if we look at the US response we see it is indeed bailout. The problem is the money allocated to insure these banks courtesy of the taxpayer is only 1.3% of the total of bank that might need bailing out.
Investors are now shifting their funds up the chain to the top three which are "too big to fail".
I mean you do maths. Surely you can predict the outcome of this!
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Post by Baron von Lotsov on Mar 16, 2023 14:08:51 GMT
Why should i bail out the employees whose redundancy comes as a result of their employer’s fucking stupid decisions Nobody bailed me out when Ferranti’s MD jumped into bed with a twat who illegally sold WMD to Saddam Hussein pretending it was destined for Saudi Arabia, causing the company to tank when tbe greasy arab reneged on his payment schedule. Fuck ‘em I agree, no one bailed me out when a moratorium on new road construction was undertaken by teh Blair government and massive redundancies ensued. Many times things are not the fault of the individual but they pay the price, sometimes it is the individual and they should pay the price. The idea of capitalism is it is freedom. You are free to do what you want, but must bear the consequences of your actions (the price of freedom). Whatever you do has consequences. If you are mature enough you can work it by doing some thinking. If you can't then you will have to be micromanaged by a soviet regime and lose all your freedom. You simply can't have your cake and eat it. |
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Post by johnofgwent on Mar 16, 2023 16:45:25 GMT
Why should i bail out the employees whose redundancy comes as a result of their employer’s fucking stupid decisions Nobody bailed me out when Ferranti’s MD jumped into bed with a twat who illegally sold WMD to Saddam Hussein pretending it was destined for Saudi Arabia, causing the company to tank when tbe greasy arab reneged on his payment schedule. Fuck ‘em Stupid does as stupid do.
The problem here is primarily with US banks, so if we look at the US response we see it is indeed bailout. The problem is the money allocated to insure these banks courtesy of the taxpayer is only 1.3% of the total of bank that might need bailing out.
Investors are now shifting their funds up the chain to the top three which are "too big to fail".
I mean you do maths. Surely you can predict the outcome of this!
The amount allocated courtesy of the US taxpayer was never intended to stop the bank failing, but was a deposit scheme similar to, but nearly three times as generous as, our own Financial Services Compensation Scheme which guarantees the first £85000 of any deposits held at a financial organisation that is a member of the scheme Over the weekend i noted the US regulatory body had decided to remove the limit so companies investing more than 250k USD in this bank would get it all back not just the first 250k I also noted this only applied to certain types of investment. Shareholders snd one other (cant recall what they were) are goung to be left singing until a lot of others have been paid. |
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