Gordon's bank bailout was the brave work of genius

[View From The Top]

I hope that there will not be one here. I hadn't known until about 6 months ago that it was 3 years before the depression set in the 30's.

It was not instant but took time to work its way through. Scary stuff if you think about it, as we must be about 2-2 1/2 years into the crisis now.

 

If the banks had of failed we would have been in the midst of a depression now according to some economists and it's a blessed relief to all of us that that spectre seems to have passed.

[OldNick]

If the banks had of failed we would have been in the midst of a depression now according to some economists and it's a blessed relief to all of us that that spectre seems to have passed.

The banks did fail but you are correct, but we are not out of the woods yet. Whoever wins has got to get to grips with the problems straight away for all our sakes

[buctootim]

Buctotim, I dont know if you have any savings, but the banks are borrowing money for less than 1%. Even the worst goon in the world could make profits on that.

Yes the banks are being reinvigorated at the cost of the people who have been prudent and put aside a few quid. In normal trading the interest earned by the nations savers would be taxed and no doubt billions of tax would be earnt from that. it is not just a one way system.

By the way it is a perhaps we will get that profit. Take into account all the money that has been printed that has to be paid back so LLoyds etc can make that money after lending at extortionate profits.

Give me a billion at 0-1% and Id make you billions in return.

 

1. Why are the banks making money at the expense of people who have put away a few quid? The recovery in the banks has taken place alongside a recovery in the stock market. Pension funds have made returns for policyholders of 30% or so in the past 12 months. Only a goon has been holding substantial sums in cash.

2. The whole point of printing money - quantitative easing - is that you create that money. It isnt taken from anybody.

 

So yes- it will be a real £50bn profit, if not more.

[OldNick]

1. Why are the banks making money at the expense of people who have put away a few quid? The recovery in the banks has taken place alongside a recovery in the stock market. Pension funds have made returns for policyholders of 30% or so in the past 12 months. Only a goon has been holding substantial sums in cash.

2. The whole point of printing money - quantitative easing - is that you create that money. It isnt taken from anybody.

 

So yes- it will be a real £50bn profit, if not more.

I know Im a goon and so holding cash. Stock market recovery on what?Look at the graph re the housing boom and perhaps we are there. How can our companies be worht more money than they were when the economy was moving?

IMO as a lot of people were getting little interest they have rushed into buying shares/buy to let to try and get a better return.At present they are have done well, the stocks have jumped and bounced back to good levels.

I notice your swipe at people hoarding/buying gold, they might not all be goons and looking at the long game.

IMO the banks are having an easy ride in making billions of profit, lend me money at 1% and below and I will make a big profit.