The Virtual Pub
Come Inside... => The Commons => Topic started by: Barman on September 28, 2008, 09:28:44 AM
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Troubled bank Bradford & Bingley is to be nationalised, the BBC has learned.
Officials from the Treasury and the Financial Services Authority (FSA) have been in talks with executives from the bank in a bid to secure its future.
BBC News business editor Robert Peston says the Treasury will then speedily sell B&B's 200 branches and its savings business to a bank or number of banks.
B&B, which has seen its share price crash recently, assured savers that their deposits were safe.
Source (http://news.bbc.co.uk/2/hi/business/7640143.stm)
The thing that annoys me about this ol' shite is that the taxpayer effectively buys the company, then HMG sell off the key assets (the investors) to another lucky bank (Santander prolly) leaving the taxpayer with a load of dodgy debt... again...
The (already debt ridden) taxpayer is being lumbered with more and more debt every day while financial institutions walk away with literally billions...
angry037
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
Haven't we all. Banghead
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
Haven't we all. Banghead
Well then! cussing:
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
Haven't we all. Banghead
Well then! cussing:
I still am! cussing:
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
Haven't we all. Banghead
Well then! cussing:
I still am! cussing:
They are still clutching my pension! cussing:
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
Haven't we all. Banghead
Well then! cussing:
I still am! cussing:
They are still clutching my pension! cussing:
Mine too cussing:
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
Haven't we all. Banghead
Well then! cussing:
I still am! cussing:
They are still clutching my pension! cussing:
Mine too cussing:
Bastards! And now they've changed the rules so I can't have it 'til I'm 55 or some such... Banghead
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
Haven't we all. Banghead
Well then! cussing:
I still am! cussing:
They are still clutching my pension! cussing:
Mine too cussing:
Bastards! And now they've changed the rules so I can't have it 'til I'm 55 or some such... Banghead
Oh I've already managed to prise mine out of them, well part of it. I have two occupational pensions from different employers who, for various reasons, refused to let me put it all in one pot. One agreed that due to ill health retirement I could claim it early and they have been paying it since I was 55. The other bunch wouldn't play that game. Meanwhile HMG taxes the pittance I do get at a ridiculous level. Apparently disability benefits are paid tax free but they do count against you tax liability when you have to pay tax on a pension so they swipe the lot out of the pension payments. They take about 33% of what I am paid.
Typical Gordon Brown accounting. cussing:
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I agree with you ~ I'd agree with you even more if you paid tax in the UK cussing:
I've paid enough bloody tax in my time! cussing:
Haven't we all. Banghead
Well then! cussing:
I still am! cussing:
They are still clutching my pension! cussing:
Mine too cussing:
Bastards! And now they've changed the rules so I can't have it 'til I'm 55 or some such... Banghead
Oh I've already managed to prise mine out of them, well part of it. I have two occupational pensions from different employers who, for various reasons, refused to let me put it all in one pot. One agreed that due to ill health retirement I could claim it early and they have been paying it since I was 55. The other bunch wouldn't play that game. Meanwhile HMG taxes the pittance I do get at a ridiculous level. Apparently disability benefits are paid tax free but they do count against you tax liability when you have to pay tax on a pension so they swipe the lot out of the pension payments. They take about 33% of what I am paid.
Typical Gordon Brown accounting. cussing:
Bastards! cussing:
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Meanwhile the Bradford and Bingley were still advertsing on the TV last night. Bastards cussing:
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Meanwhile the Bradford and Bingley were still advertsing on the TV last night. Bastards cussing:
Double-bastards! cussing:
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Brown is doing exactly the same thing as Bush has been pushing through. The only difference is that Bush is being honest about buying up the bad debts instead of taking over banks & selling off all the profitable parts.
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And where are the governments are going to get all these billions from?
You and me - that's who cussing:
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Santander have got the profitable bit, taxpayers have got the debts. Brilliant move. noooo:
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Santander have got the profitable bit, taxpayers have got the debts. Brilliant move. noooo:
As I said in the OP...
This could have been a windfall for the taxpayer but all the decent bits will be sold off to 'friends' of the party and the taxpayer will be left with a load of worthless 'self assessed' mortgages... noooo:
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Precisely the case
http://www.order-order.com/2008/09/rich-marks-monday-morning-view_29.html (http://www.order-order.com/2008/09/rich-marks-monday-morning-view_29.html)
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I was talking to a neighbour this morning who works for RBS. I asked him if they were safe. He wouldn't answer. scared2:
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Who is?
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So I said "where do you keep your money?"
"under the mattress" was his reply. eeek:
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He can afford a mattress? noooo:
The man is rich
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His department arranges finance for 'social housing' projects. He doesn't seem worried by the credit crunch.
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First time buyers have started looking more at the social housing option, going into part ownership with a housing trust. Given that the rates and required deposing are currently too high for the average first time buyer in normal cases, social housing may be a profitable area.
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First time buyers have started looking more at the social housing option, going into part ownership with a housing trust. Given that the rates and required deposing are currently too high for the average first time buyer in normal cases, social housing may be a profitable area.
It's the way forward.
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Even in South Wales?
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Its probably the only chance I'd have to get on the property ladder in Cornwall.
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Probably. Mind you who knows if that will ever happen!
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Divorce from Mr Wench sad24:
The poor chap
eveilgrin:
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News just in, the house of representatives has vetoed the rescue package that Bush was trying to force through. I dread to think what that will lead the gormless scots grasper to try next. noooo:
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News just in, the house of representatives has vetoed the rescue package that Bush was trying to force through. I dread to think what that will lead the gormless scots grasper to try next. noooo:
We are truly fucked... noooo:
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So the bribes offered weren't big enough .... no doubt that will be rectified over the next few days.
Mind you I am not convinced that the $700billion was the answer. I tend toward feeling that those Yanks who are saying "Let those who made the gain feel the pain" may be ight in the end. For sure we don't want to let them feel they can get bailed out of this and then go off and invent another scam ~ and you know they will.
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So the bribes offered weren't big enough .... no doubt that will be rectified over the next few days.
Mind you I am not convinced that the $700billion was the answer. I tend toward feeling that those Yanks who are saying "Let those who made the gain feel the pain" may be ight in the end. For sure we don't want to let them feel they can get bailed out of this and then go off and invent another scam ~ and you know they will.
I agree with you, I don't think there should be a bail out... noooo:
Unfortunately though, governments on both sides of the pond have given the banks an expectation of a bail out thus making the results much worse if it doesn't come or is diluted to get the votes it needs.
They really are clueless aren't they...? Angry9:
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Interesting that on the Today programme this morning the point was made that of those who voted NO to the plan the majority were representing "seats" that are considered at risk in the upcoming Congressional elections wheres those that voted yes were almost all from seats" that are considered safe. Put it another way those who could say "fvck you" to their voters and still stay on the gravy train voted to bail out the banks whereas those whose electors had told them "we don't like this idea" and feared that they would have to find another job voted "No". One pro congressman actually said that the No voters would have to be offered better deals for their states....... in other words bigger bribes.
The whole matter is so important that nothing will be done today because of what the BBC are referring to as "Jewish Holidays"
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Interesting that on the Today programme this morning the point was made that of those who voted NO to the plan the majority were representing "seats" that are considered at risk in the upcoming Congressional elections wheres those that voted yes were almost all from seats" that are considered safe. Put it another way those who could say "fvck you" to their voters and still stay on the gravy train voted to bail out the banks whereas those whose electors had told them "we don't like this idea" and feared that they would have to find another job voted "No". One pro congressman actually said that the No voters would have to be offered better deals for their states....... in other words bigger bribes.
The whole matter is so important that nothing will be done today because of what the BBC are referring to as "Jewish Holidays"
Yes, I heard all that...
I too was surprised that the Jewish Holidays would stand in the way of a global financial crisis... noooo:
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Interesting that on the Today programme this morning the point was made that of those who voted NO to the plan the majority were representing "seats" that are considered at risk in the upcoming Congressional elections wheres those that voted yes were almost all from seats" that are considered safe. Put it another way those who could say "fvck you" to their voters and still stay on the gravy train voted to bail out the banks whereas those whose electors had told them "we don't like this idea" and feared that they would have to find another job voted "No". One pro congressman actually said that the No voters would have to be offered better deals for their states....... in other words bigger bribes.
The whole matter is so important that nothing will be done today because of what the BBC are referring to as "Jewish Holidays"
Yes, I heard all that...
I too was surprised that the Jewish Holidays would stand in the way of a global financial crisis... noooo:
They certainly wouldn't if the Bank of Tel Aviv was in trouble. noooo:
It is just a way of showing Bush who is in charge over there.
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Interesting that on the Today programme this morning the point was made that of those who voted NO to the plan the majority were representing "seats" that are considered at risk in the upcoming Congressional elections wheres those that voted yes were almost all from seats" that are considered safe. Put it another way those who could say "fvck you" to their voters and still stay on the gravy train voted to bail out the banks whereas those whose electors had told them "we don't like this idea" and feared that they would have to find another job voted "No". One pro congressman actually said that the No voters would have to be offered better deals for their states....... in other words bigger bribes.
The whole matter is so important that nothing will be done today because of what the BBC are referring to as "Jewish Holidays"
Yes, I heard all that...
I too was surprised that the Jewish Holidays would stand in the way of a global financial crisis... noooo:
They certainly wouldn't if the Bank of Tel Aviv was in trouble. noooo:
It is just a way of showing Bush who is in charge over there.
That's prolly it... I noticed that they negotiated all over the weekend to try and get an agreement before Asian markets opened yet now everything has to be put on hold... rubschin:
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What would the bailout actually acheive? I am still struggling to understand how it stabalises the market, especially longterm. Surely it just puts off the inevitable?
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Over valuations are one cause of the problem and a willingness to lend against them. Thing is the money is still out there somewhere. Find who has it and take it back.
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I want a gun
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I have deliberately spoilt this thread
I still can't see where
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Interesting that the US legislature gets to discuss this and vote on it. And what are our Parliamentary representatives up to?
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Interesting that the US legislature gets to discuss this and vote on it. And what are our Parliamentary representatives up to?
Dividing up the spoils between them and their mates I would imagine... noooo:
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So the Irish have guaranteed 100% of savings in their banks, the Greeks have done the same and today the Germans have announced a similar guarantee. So much for solidarity in the EU then.
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The Germans have only guaranteed retail savings and not all liabilities. That has always been implicit anyway. I assume the same will now happen Europewide.
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Iceland (The Country) are asking everyone to pay them back. One of their debtors is ............. errrrrrrr....... Iceland Frozen Foods.
Meanwhile the Icelandic Trades Unions are telling their Govt. to sign up to the EU quick smart!
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Bjork
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Hmmm....
http://www.icesave.co.uk/index.html
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A case of frozen assets?
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i daren't look any more; we're doomed cry:
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But no, with one bound Darling saves the day.
Rescue plan for UK banks unveiled (http://news.bbc.co.uk/1/hi/business/7658277.stm)
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But no, with one bound Darling saves the day.
Rescue plan for UK banks unveiled (http://news.bbc.co.uk/1/hi/business/7658277.stm)
Quite.
As Pastis says, we're doomed... (https://www.virtual-pub.com/SMF/proxy.php?request=http%3A%2F%2Fwww.freesmileys.org%2Fsmileys%2Fscared002.gif&hash=2df77d1afc320316f83b4657f207d800386f4543) (http://www.freesmileys.org)
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But Darling and Snotty have invested 60 squillion pounds in the banks.What can possibly go wrong?
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But Darling and Snotty have invested 60 squillion pounds in the banks.What can possibly go wrong?
Nothing... if you are a banker... noooo:
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Letter from the Chancellor of the Exchequer to the Chairman of the Committee
BANKING REFORM
I am writing to inform the Treasury Committee of the appointment of the Deputy Governor of the Bank of England for Monetary Stability and to update the Committee on my proposals for the reform of banking system oversight, focusing particularly on measures to enhance the role of the Bank of England in preserving financial stability.
DEPUTY GOVERNOR FOR MONETARY STABILITY
Rachel Lomax is leaving the Bank of England at the end of this month. As I said in my response to you at Treasury questions on 5 June, she has had a distinguished career, including as Permanent Secretary to a number of Government departments and as Deputy Governor.
Her Majesty the Queen has been pleased to approve, under the Bank of England Act 1998, that Charles Bean will be appointed the new Deputy Governor responsible for monetary stability for a period of five years from 1 July 2008.
Mr Bean is in charge!
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Meanwhile the stalwart Torygraph readership sort out their priorities in the list of most read articles:
(https://www.virtual-pub.com/SMF/proxy.php?request=http%3A%2F%2Fwww.postimage.org%2FaVQ1J5J.jpg&hash=ea18ff13cb605636b20a8740d2041ac610e91af4) (http://www.postimage.org/image.php?v=aVQ1J5J)
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Bailout seems to be working... FTSE only down ~200 points... happy001
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http://www.order-order.com/2008/10/guidos-plan-to-stabilise-uk-markets.html (http://www.order-order.com/2008/10/guidos-plan-to-stabilise-uk-markets.html)
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Interestingly, the FTSE is down to about where it was when they came into power in 1997... That's progress then... ::)
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I did love the press conference, they really didint know how to answer half the questions so kept repeating the same meaningless platitudes.
Unfortunately, from what was said during the Q&A session we will be looking at increased taxes as they categorically stated that the money wouldnt come from a reduction in public services.
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Reading 'have your say' on the BBC site, this made me chuckle:
I do not use banks and I always tell any employers so, and I get my money as a cheque made out to "wages" this allows the cheque to be cashed instantly at any bank
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I did love the press conference, they really didint know how to answer half the questions so kept repeating the same meaningless platitudes.
Unfortunately, from what was said during the Q&A session we will be looking at increased taxes as they categorically stated that the money wouldnt come from a reduction in public services.
I saw that too - laughable and as usual they avoided answering the more pertinent questions. evil:
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I did love the press conference, they really didint know how to answer half the questions so kept repeating the same meaningless platitudes.
Unfortunately, from what was said during the Q&A session we will be looking at increased taxes as they categorically stated that the money wouldnt come from a reduction in public services.
I just wonder why they have politicians on these shows any more... complete waste of time... noooo:
They had Darling on the wireless this morning - asked a simple question... well I switched the radio off in disgust before he had finished blathering his way through his party political broadcast... cussing:
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I did love the press conference, they really didint know how to answer half the questions so kept repeating the same meaningless platitudes.
Unfortunately, from what was said during the Q&A session we will be looking at increased taxes as they categorically stated that the money wouldnt come from a reduction in public services.
I saw that too - laughable and as usual they avoided answering the more pertinent questions. evil:
Fair play to the reporter who asked if the PM should apologise for dithering and feeding the fears over the economy, Incapability Brown really didnt like that, I thought his false eye was going to fly out.