Some sections of the media are reporting it like those banks have just shat on all our cornflakes. Just what exactly is the problem with them making a profit?
I'm guessing it is because they got in huge amount of debt through silly lending. Then expected the government/tax payers to bail them out. After all that they still make nice profits...
Although having said that I have nothing against them.
[url= http://www.thedailymash.co.uk/news/business/bank-anger-profit-bonus-in-fatcat-fury-shame-200908031950/ ]FURIOUS fatcat taxpayer money bonus and angry meltdown shame greed, it emerged today...[/url]
I Like Tom, analysing man's comments.
Yep, and a lot of the "dodgy" dealing in the run up to all of this was done by our pension funds as well.
That is my favourite piece by the Mash since the thing about Amanda Holden's vagina. 🙂
It's a funny one. I'm settling for "I'm glad they're making a profit, it proves everything is getting better again" and leaving it at that. But I haven't yet lost my job, my home or my dignity as a result of some bloke suddenly realising that his bank was broken as a result of his own daftness, so I'm not as angry as I suppose some people are...
thing is, this is only a minor point, HSBC and Barclays didn't have any handouts....
BigDummy - MemberThat is my favourite piece by the Mash since the thing about Amanda Holden's vagina.
WTF111
Linkage pleez
Two banks that weren't "saved" by Gordo the Magnificent do well, as mrmo points out. Well done them. Here's hoping this is part of a wider recovery for everyone.
[i] mrmo - Member
thing is, this is only a minor point, HSBC and Barclays didn't have any handouts.... [/i]
I was about to say exactly the same thing myself.
Except that their counterparties on vast numbers of transactions were propped up by government. If your assets include debts owed to you by someone who is going broke, and someone else saves your debtor from going broke, you get to treat that asset as being worth something, which helps if you're trying to show a profit. I do not know, but I'd be surprised if that had no effect on the balance sheets of these institutions.