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Subject: UK Bank and Building Soc.Savers "at risk"-Lazen

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lazen

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Posts:326

31/07/2008 2:28 AM	Alert
Those with funds that have no call on them are very much in a minority in todays bloated Britain. The prudent,thrifty goody goodies have salted away a little heap of squirrel nuts mainly people like old grannies,pools winners,rich landlords,windfallers. But it looks like their savings may be on the "at risk" register. You see secretly the greedy covetous no hopers of the credit crunch generation covet those savings. The Organisations covet those savings. It is good money in an Ocean of Poo and debts gone wrong. So now it emerges the Banks and Societies are filing moderate drops in profits,78% here 56% there.No big deal after all they still made 768 Millions you say. Plenty for everybody. Trubble is these losses follow a Pattern.The pattern of increasing Corporate Bankruptcy itself. the pattern is this 1)Year one PLC announces a profits warning.Down 25%.DShuts some branches 2)Year two.The slide continues.60% drop.More panicky branch closures and sell offs. 3)Year three.ACTUALLY GOES INTO THE RED!! Now what happens when a Bank or Building Society goes into the red I dont know. Its not a Woolies. BUT your money is in there!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Asteve

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Posts:930

31/07/2008 4:33 AM	Alert
I strongly suggest you do a bit more research, Lazen. There is plenty of current affairs that discusses exactly what happens when banks become insolvent - both in the UK and further afield. Northern Rock found itself utterly unable to meet its liabilities - it was nationalised. RBS looked as if it was in trouble - so it raised £12bn from shareholders in a rights issue. Barclays and HBOS tried to follow suit - but failed. A recent rumour is that HBOS might be broken up and have its assets sold to other banks. Bradford and Bingley accepted a takeover bid from Santander. In the USA banks have 'imploded' - whereupon, subject to deposit insurance, funds were lost. Similar happened to some account holders in the UK when BCCI imploded in 1992. On the whole, I don't think people should consider banks defaulting on their debts to be an imminent threat - though there can be no harm in reminding the FSA that it is their job to ensure that this doesn't happen... and even the remotest chance that savings will be lost is utterly unacceptable to their employers (i.e. the taxpayer.)

lazen

Activist

Posts:326

01/08/2008 11:35 AM	Alert
It said this morning that Alliance and Leicester made a near loss in the first quarter 2008 their profit down to only 2 £million.So whats it going to be next time a £30 million LOSS????? All these places have lent millions to people who no way can afford or intend to pay it back. Only the other day a smug feral chav single mother was boasting how shed taken them for £10,000s then declared bankruptcy which "wasnt too bad" she said and due to accelerated procedures was nearly over. This whole thing has become a under class con game played out from sink estates nationwide!

lazen

Activist

Posts:326

08/08/2008 7:33 AM	Alert
Well now Im seeing headlines saying RBS has actually made a loss(6oo Millions £). I dont know well have to wait and see what happens next year, I was too young to remember ecomomic woes 40 years ago 1970. Still no awnsers on; Where has all the money gone to? Who was it lent to?

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