http://www.guardian.co.uk/business/2010 ... it-warning


And if they go belly up then we still end up being £1 Trillion down the drain. They will go belly up because the banks are insolvent and they still have huge hidden potential liabilities in housing and commercial real estate. That is ignoring the sovereign debts that they may hold, or those of other banks, particularly German who are vulnerable to a greek default.

Also where is this supposed growth to come from? The government expect it to come from exports but our main export markets are in austerity mode with the objectives of exporting to us! Then the private UK householder is the most indebted in the world and needs to clear those debts either through bankruptcies, or simply paying it back. If they do that then the economy will struggle for more than a decade. At least we did not have the bubble that the Japanese had. They are still trying to work that one off twenty years later.

As for reforms cutting credit, there is no credit except to the best customers. Banks are cutting bank lines of credit to everyone. They are de-leveraging like the rest of us should be. So these reforms would have absolutely no impact but our stupid leaders will not realise that. I am not excusing Labour. They should have done something while in power to curtail bank leverage. They failed as well.


Vince seems to be out of touch in this. The banks will only lend to the safest prospects. The banks are also short of capital so they can lend. Even with the huge subsidy that the banks are getting in low interest rates, they are struggling. As far as they are concerned it is business as usual.

This is necessary, otherwise it'll all happen again.

Backs can go frak themselves.

Exactly and why I get so annoyed with the politicians for caving in to the banks.

do you notice on TV or anywhere else any ads for borrowing/loaning money or any other means of getting a loan, except from the sharks ...

dim, dark and dismal times await ...

Thinking about it I have not seen and ad for a bank in ages.

Really?

"We, are Santander..."

"Yeah, but no, but yeah, but no...Nationwide are totally [LIFTED] yeah!"

"Our Ethical policy ruled out X clients last year. Think Co-op bank".

"Growing cash, completely normal. Save with us yada yada" Barclays.

"World's local bank" HSBC

"ha ha ha ha, ha ha ha ha....For the Journey" - Failboat Lloyds TSB.

Contd. P.94...

but are they advertising loans or advertising bank with us (we want your money) ? ...

sorry about the edit ...

I've seen Lloyds advertising personal loans. Most are savings/current accounts though, admittedly.

And I've just thought of another bank advert I've seen recently.

"Oh lucky you" - HBOS.

try getting a loan from any one of them
i was thinking of starting (again) my own business

but without banking backup etc etc etc, no chance ...

and ps. i own my own home ...

I must be a prime customer then. I got an unsecured loan but the rates were higher than before.

TBH in my experience unsecured loans are easier to obtain than secured ones...for some reason.

Maybe because they are worried about the quality of the property. Even so if the sum is not so large why cant they just go with unsecured loans for people willing to set up a business. It is a better option for the economy than my personal loan.

Yes just seen an ad for a savings account.

My bank have been hounding me to take a loan and credit card and it's very very annoying.

Every time I go in branch they remind me "by the way sir did you know you're guaranteed one of our credit cards and personal loans?"

It's pretty annoying tbh and I've asked them to stop but they just carry on. :roll;

Considering the £1tn never really existed, where is the problem?

All currencies are overvalued and a lot of the money in circulation doesn't really exist... If it brings things back to sensible levels...

If the banks don't have the gold to back it up, they don't have the money...