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well its only £35,000 on paper and if what Gerrard says is true about £4bn set aside, that would only have covered a very small percentage of HBOS savers due to the massive funding gap.Originally Posted by TheAnimus
as for helping things, i have little money to lose, but what i have i dont want to risk, if panic withdrawals are gonna become part of the problem, id rather get mine out now before the queues start and the "No money left" sign goes up in my banks window.
You generally don't have a regular bank account in those situations!
Where my sweeping generalisation hurts is those who are say buying a house or a car, who have a very temporary need to hold such assets in cash.
Also HBOS was never in any situation where it looked like depositors where going to loose their money, the way the legislation is in place puts depositors above people who hold bonds, the £4bn reserve pile probably wouldn't need to be touched. Also, its worth noting that set asside dosen't mean more can't be relatively easily created.
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Where you going to put it? under your mattress?
If you really are worried stick it in Northern Rock - cant get a much safer bank to hold you money in right now<- No pun intended
HAY! i don't see the raving looney party on there(tho i would not vote for them)
Why dont they just let the banks fall and sue people who were responsible for bad debts? No, the socialists will use public money to prevent such collapse and to defend those who are responsible for the current crysis.
But your risk is now theft or fire and depletion of value as your money won't keep pace with inflation. For 100% safety (albeit a poor return as the price paid for caution) you could stick your money in National Savings.
Last edited by santa claus; 23-09-2008 at 09:16 PM.
I don't give a monkeys anyways cos I ain't got no money - the ex took it all
As for politics, there are no opposites anymore, current labour party adopted Thatcher's policies for their own and called them Labour policies, which is why that div Cameron can't get elected, there is no Labour Party anymore.
The Lib/Dems will only make their minds up about policies when they're elected, which will probably be never.
The Greens want to stop me driving my big old Mercedes, which I enjoy immensely, so to hell with them. And I'm allergic to horses as well, so double to hell with them
As for the BNP I know of plenty of landfill spaces that still have some room left.
Ah yes, capitalism, survival of the fittest.
I was once an idealist now I'm a realist. I've survived so far, so yes, I'd support capitalism because the alternative doesn't bear thinking about.
I think Capitalism with a Socialist safety net (more or less what we have now) is about right.
But politicians - I hate them all
My goodness - that was a bit of a ramble wasn't it?
i agree with pritty much all of what you said, apart from the last part of this sentence.
how is it about right? its immoral. You cant have a system that allows companies to make obscene amounts of money, and when it gets too greedy and pops, is bailed out by the tax payer. what really gets to me is the fact that the super rich bosses will still get there fat pay packets while everyday people will be worse off. its a joke IMO.
if i had my way, id round up all the super rich, make them wear T-shirts with pictures of the Prophet Mohammad on the front, drop them off in Helmand Province armed only with a bacon sandwich and a copy of Razzle.
i hope you see my point!
j1979. How much tax do you think these people generate?
Do you think that over the last 5 years, including all the bailouts (including things like nrk which in many ways was el Gordo's fault, see other threads for my justifications for such a statement) and guess what, they are still in a net plus.
Whats very worrying is the moral hazard that people such as the directors of Fanny and Freddie get their bonuses after really screwing the pooch, that makes no sense, that is until you understand that these remunerations where arranged long ago. My boss earns about 100 times more than my combined basic + bonus, but, if the desk starts going down under he would be out in an instant, he has risk for his reward, that said, even if he screws up, he's still getting a 7 figure payout. Its simply the fear that he would leave for another company, and loose us a hell of a lot more than his wage that allows him to bargin this. Last year i had a secured bonus as part of the package they used to lure me to them. These practices are common and a necessary way of getting talent.
But then again in economics its all to easy to blame factors as moral hazard without suggesting alternatives.
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Well yes I do old boy, I do indeed.
Your point seems to be you're filled with hatred over something you can't quite put your finger on. Perhaps.
You see, humans being humans, most people want to be stinking rich.
And when they're not stinking rich, the almost obscene way in which the super rich are massaged by the State does rather irk them, does it not?
Me, I honestly don't care anymore, if I'm clothed, fed, warm, can afford a few beers and play CoD4 online and go see British Sea Power play at the Roundhouse this October, I'm more or less happy.
More or less. I am, shall we say, getting somewhat long in the tooth and I've finally realised it doesn't matter.
It really doesn't.
u sound a bit like noel coward. (no offense)
Its not hatred of the super rich, as you will see from my last post and what i would do with em. I clothed them, fed them and gave them some entertainment. id just like to see them have a tougher life or everyone else to have it as easy as them.
the super rich aren't likely to be going cold this winter because they cant afford their gas bill, or spending a night in a cell because they cant afford the council tax, they wont have to get a bus that stinks of piss, or live in a rented shared house, go food shopping every other day after work because thats all you can carry in one go on public transport. they wont have to think twice about getting married due to financial worries, or even raise a family. they wont have to buy dairy milks for xmas presents again. They wont have to bypass social events due to funds and lack of time. they wont have to cut the mouldy parts off food or wear clothes that have holes in. They wont even have to count their penies because they can afford the 10% tax that is charged by the coin sorting machines in supermarkets. they generally wont have to worry about that much in all honesty. The only major financial worry they have is how to keep hold of their money.
im not complaining, i just think we need a fairer tax system, or capped earnings.
Because a £1200 council tax bill is just under 10% of my wages.
20% income tax (after the personal allowance). 1% tv license, £840 on a bus pass 7%. room in a shared house 25% bills 15%. i still manage to save money (desperately awaiting the house price crash) . so im not pleading poverty by any means (even though im well below the official poverty line) i would just like a fairer world, where the poor are less poor and the rich are less rich.
am i only saying this because of my situation? probably.
edit: ohh and i am aware that im a lot better off than the majority of the world population, before theAnimus throws that at me.
Last edited by j1979; 24-09-2008 at 12:30 AM.
not enough?
paying 40% of their 7 figure salary, is not justification for their wages. a tax system can be changed. also 100 people earning £10k each will put just as much back into the economy due to the distribution factor and the fact they will be paying 100 lots of none means tested taxes like council tax. Also the system is full of tax loopholes for the super rich.
BNP - 1 vote..
Who was it? lol I bet you posted in the "muslim youths" thread
if only the green party and the bnp had been the other way around in the poll...
then it would all be the right colour
was it intentional?
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So thats 1.2k per 10k person per year.
Now, every person who just scrapes 6 figures, will pay in £32k?
So, thats the same as 29 10k per year people.
Be grateful for these people, they're paying for all the squandered money in the NHS.
Have you by chance been at a conference in Manchester this week? Do you think socialism is a remotely good idea? (not to be confused with compassionate capitalisim)
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ill say it again, the current tax system is not justification for obscenely high wages!!
Be grateful for these people, they're paying for all the squandered money in the NHS.
Have you by chance been at a conference in Manchester this week? Do you think socialism is a remotely good idea? (not to be confused with compassionate capitalisim)
And your political view point seems to be slightly obscured, if you think the labour party are in any way socialist. the Labour party are not even left of center anymore, but i would expect that from a suspected BNP voter.
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