| Remember when we bailed out the Banks? on 08:34 - Mar 26 with 1144 views | Darth_Koont |
Banks gonna bank.
Hopefully others will follow RBS's lead now that this is out in the open. |  |
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| Remember when we bailed out the Banks? on 08:42 - Mar 26 with 1125 views | ITFC_Forever |
You sound surprised.... |  |
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| Remember when we bailed out the Banks? on 08:45 - Mar 26 with 1119 views | homer_123 |
| Remember when we bailed out the Banks? on 08:42 - Mar 26 by ITFC_Forever |
You sound surprised.... |
You heard sarcasm in my typing. |  |
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| Remember when we bailed out the Banks? on 08:50 - Mar 26 with 1086 views | Radlett_blue |
The banks were not saved during the financial crisis for the benefit of pin striped bankers. They were saved so that they didn't become insolvent and millions of ordinary people didn't lose their savings and to stop the entire financial system from collapse, which would have had unthinkably bad consequences for almost everyone. |  |
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| Remember when we bailed out the Banks? on 08:51 - Mar 26 with 1078 views | Herbivore |
Banks are one of the major sources of evil in the world. |  |
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| Remember when we bailed out the Banks? on 08:52 - Mar 26 with 1073 views | Guthrum |
| Remember when we bailed out the Banks? on 08:50 - Mar 26 by Radlett_blue |
The banks were not saved during the financial crisis for the benefit of pin striped bankers. They were saved so that they didn't become insolvent and millions of ordinary people didn't lose their savings and to stop the entire financial system from collapse, which would have had unthinkably bad consequences for almost everyone. |
Indeed. Altho they did then proceed to hoover up as much of the money for themselves as possible. |  |
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| Remember when we bailed out the Banks? on 08:53 - Mar 26 with 1069 views | homer_123 |
| Remember when we bailed out the Banks? on 08:50 - Mar 26 by Radlett_blue |
The banks were not saved during the financial crisis for the benefit of pin striped bankers. They were saved so that they didn't become insolvent and millions of ordinary people didn't lose their savings and to stop the entire financial system from collapse, which would have had unthinkably bad consequences for almost everyone. |
Entirely true Radders - but, given that, their world has hardly changed at all. Whereas others saw years and years of austerity. | |
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| Remember when we bailed out the Banks? on 09:21 - Mar 26 with 1008 views | Lord_Lucan |
The banks are going to be a big sticking point. They are worried that firms will apply for a low interest rate Covid loan and use this money to pay off existing higher rate loans.
Another example of this impossible situation. |  |
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| Remember when we bailed out the Banks? on 09:24 - Mar 26 with 998 views | Swansea_Blue |
What a bunch of bankers |  |
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| Remember when we bailed out the Banks? on 09:41 - Mar 26 with 956 views | StokieBlue |
It's rubbish but I thought the government were underwriting 100% of these loans? Why are they only covering 80%.
Not defending the banks, they shouldn't be asking for security but I wonder what the reaction would be on here in 1-2 years time if the banks had to ask for government money because lots of businesses defaulted on the loans and the 20% which has no security was lost. Does anyone know the total of the loans the government are willing to underwrite?
Essentially as it stands the government are asking the banks to take on a whole load of unexpected risk, without the option to say no and outside of the capital restraints imposed on them.
That is the actualities of the situation. However they still shouldn't be asking for security from businesses who are already facing very difficult times and hopefully they will all follow the example of RBS is this case.
SB |  |
| Avatar - IC410 - Tadpoles Nebula |
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| Remember when we bailed out the Banks? on 09:46 - Mar 26 with 927 views | Lord_Lucan |
| Remember when we bailed out the Banks? on 09:41 - Mar 26 by StokieBlue |
It's rubbish but I thought the government were underwriting 100% of these loans? Why are they only covering 80%.
Not defending the banks, they shouldn't be asking for security but I wonder what the reaction would be on here in 1-2 years time if the banks had to ask for government money because lots of businesses defaulted on the loans and the 20% which has no security was lost. Does anyone know the total of the loans the government are willing to underwrite?
Essentially as it stands the government are asking the banks to take on a whole load of unexpected risk, without the option to say no and outside of the capital restraints imposed on them.
That is the actualities of the situation. However they still shouldn't be asking for security from businesses who are already facing very difficult times and hopefully they will all follow the example of RBS is this case.
SB |
Pretty sure they said from the get go that they were underwriting 80% | |
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| Remember when we bailed out the Banks? on 09:51 - Mar 26 with 898 views | StokieBlue |
| Remember when we bailed out the Banks? on 09:46 - Mar 26 by Lord_Lucan |
Pretty sure they said from the get go that they were underwriting 80% |
Fair enough. I though it was 80% of salaries but 100% of business loans. Thanks for clarifying.
SB | |
| Avatar - IC410 - Tadpoles Nebula |
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