| One law for us and one for the f..kin' rich 16:26 - Dec 31 with 5091 views | centrestandswan |
http://www.independent.co.uk/news/business/news/banking-culture-inquiry-scrapped
So the really big crooks get away with it again , we are being stitched up good and proper. Never mind there is always a good " kiddie fiddling " story to keep some on here ranting and raving, as distasteful as the practice is surely the banks and businesses who flout the rules should be taken to task and some sort of justice administered.Oh sorry the banks are a special case, crooks in pinstripe suits carrying briefcases untouchables. Masses being pissed on from a great hight as usual. [Post edited 31 Dec 2015 16:26]
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| One law for us and one for the f..kin' rich on 13:03 - Jan 2 with 906 views | dailew |
| One law for us and one for the f..kin' rich on 23:43 - Jan 1 by blueytheblue |
What was the quid pro quo of those infusions? It wasn't free money handed out. Either short term loans of the government obtained shares in return for the infusion.
No compensation scheme is ever very efficient. Even if it took say a month to fully verify and pay everybody, then those millions of people would have had no banking facilities for a month. Compensation, fine, but it's silly to put them into a situation causing financial hardship for a dogmatic response.
In reality, the root problem ( mixing of investment and high street banking ) was something that needed addressing. The solution implemented wasn't ideal but was the best ( or more accurately, not the worst ) in the situation.
If the investment / high street banking are segregated, then in theory the chances of this happening again would be low. Should a bailout occur? If it means not damaging millions of people, then yes it should. |
IIRC there was a (very inadequately funded) guarantee of 85% up to around £35,000 for cash deposits .
Any bank going bust could have been immediately taken over by the government. They could have guaranteed cash deposits 100% up to £50,000 and no-one would have any reasonable complaint. No need for any complicated compensation scheme.
Bond holders and share-holders could go swivel.
Banks then sold back to the private sector ASP.
Would have been much cheaper in the long run. |  |
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| One law for us and one for the f..kin' rich on 17:20 - Jan 3 with 836 views | controversial_jack |
| One law for us and one for the f..kin' rich on 13:03 - Jan 2 by dailew |
IIRC there was a (very inadequately funded) guarantee of 85% up to around £35,000 for cash deposits .
Any bank going bust could have been immediately taken over by the government. They could have guaranteed cash deposits 100% up to £50,000 and no-one would have any reasonable complaint. No need for any complicated compensation scheme.
Bond holders and share-holders could go swivel.
Banks then sold back to the private sector ASP.
Would have been much cheaper in the long run. |
The financial compensation scheme is very simple, straightforward, quick and easy to use. I used it when an insurance company I was using went bust. Very impressed. |  | | |
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