MegaSack DRAW - This year's winner is user - rgwb
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Now it appears that it is accepted practice within the world of banking & borrowing that should any unauthorized borrowing occur that this will incur punitive (by any other name) charges, say you go five pounds overdrawn, a computer automatically charges you, say, £30.00.
Now this in some essence is to impart a sense of responsibility upon the customer, and a little to cover "costs". But is it not like throwing bricks to a drowning man?
After all when the house of cards that was built by unscrupulous workers within the finance industry, most of whom were savvy enough to feather their own nests, when it all collapsed, the financial institutions went to the UK Gov & the bank of england and essentially asked: "please sir, can I have some more".
And the good ship Albion was obliging.
Now students need to start paying back their grants after their income reaches a certain level, (over £20k or so), well why not have the same policy for our captains of these monetary vessels? earn over twenty grand and start towards paying back the charges your bank has since incurred from this unplanned financial bail out?
This could also be an alternative to repossession/bankruptcy situations, perhaps people could attend a hearing where they have to lay their debts & mistakes upon the table, if sufficient acumen, intent and it can be demonstrated that it would be for the public good that an individual/small business could be given a government secured loan repayable when incoming earnings reach an agreed figure.
but that wouldn't work now would it?
And your point is.......?
why does the UK Gov not implement Unplanned Borrowing & Quantitive Easing Charges against the financial institutions concerned that are taken directly for the salaries of those working within or proven responsible for said needs. To be deducted on and at a means tested (+20k) rate?
And then offer the same channel of support to the man / small business on the street?
against the financial institutions concerned that are taken directly for the salaries of those working within or proven responsible for said needs. To be deducted on and at a means tested (+20k) rate?
Yeah I'm sure the assistants working in banks helping people with their bank cards and giving advice on life insurance will love having their wages cut. Not as simple as you think.
ok, what if it was say a means start rate at 60k that doesn't seem too unfair, plus the sooner they pay it back the sooner they can escape further charges & interest
The charges for borrowing from the Bank of England are punitive, hence they are a last resort, as a result the Bank of England has been very profitable throughout the crisis.
any ideas on what the Bank of England's punitive charges are? And how they are to be repaid?
I mean there's all this talk of how unjust it all is, newscasters voicing "public concern" etc but very little of the actual punitive costs and when/how that is to be repaid?
those overdraft charges are an insult
gas, electric, even phones have a regulator but banks dont for some reason despite it being impossible to live without a bank account
the failure of the the OFT and last government to reign in those charges was just another indicator of how the banks are able to bully and blackmail the country(ie let us charge the poorest people obscene O/D charges or we will have to charge everyone more on their accounts)
UK high street banking is still the most profitable in europe
bonus restraint was a lie :
http://www.guardian.co.uk/politics/2011/jan/10/george-osborne-bonuses-fat-cats
small business lending ; computer says no.. http://www.telegraph.co.uk/news/newstopics/politics/8277428/Banks-resist-targets-on-small-business-lending.html
and despite all the hot air you can bet the suggested breakup of casino investment & high street banks will not happen
Better Business Bureau has processed a total of 0 complaints about Bank of England in the last 36 months.Bank of England has a BBB Rating of A- on a scale from A+ to F.
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MrNutt - Member
any ideas on what the Bank of England's punitive charges are? And how they are to be repaid?
£76Bn was used to buy shares in RBS and Lloyds/HBOS. The value of those shares has already risen to the point whereby the Govt expects to make a profit of some £20-25Bn on the transaction. The sooner the Banks are profitable, the sooner the share price will rise and the sooner those shares will be sold.
The Asset Protections scheme (aimed at indemnifying the Banks against further losses but never actually required) has so far raised £2.5Bn from Lloyds Banking Group - even though they never actually entered it - and it can be expected that RBS will pay a further £2.5Bn.
In summary, the net "cost" to the UK Govt will actually be a profit of some £35Bn.
Kimbers: "gas, electric, even phones have a regulator but banks dont for some reason despite it being impossible to live without a bank account"
The FSA (for the time being)
In summary, the net "cost" to the UK Govt will actually be a profit of some £35Bn.
And what will be done with this profit?....
the fuxking olympics probably.