Tuesday, Sep 30, 2008
Yes, it's called capitalism. An endangered species.
Times online: Consumers to foot bill for Bradford & Bingley bailout in higher bank charges
Bank charges and insurance premiums are set to rise after high street banks and insurers were ordered to pay up to £14 billion under the terms of Bradford & Bingley’s nationalisation.
[Er, yes, and if it's unreasonable, customers will go elsewhere. Companies that can generate cash, with a working business model that convinces customers to pay them instead of their competitors, will indeed survive. It's known as a free market economy. Is this more naked bleating on behalf of the bankers?]
Posted by dohousescrashinthewoods @ 11:08 AM (306 views) Add Comment
3 Comments
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1. dohousescrashinthewoods said...
At least this way we have some choice about whether and/or who to pay. With taxpayer bailouts we would all be paying regardless.
Of the two options - having "some choice" or having "no choice", I know which I prefer.
2. dohousescrashinthewoods said...
Comment on the article:
"Gordon Brown sold the British gold reserves at a knockdown price and now he has sold the best assets of Bradford & Bingley for a song. If he was in business he would be a bankrupt by now.", Deirdre McIvor, Londonderry , Northern Ireland
As far as I can tell, he is indeed bankrupt, along with the Fed, whose coffers Hanky Panky is busily emptying into his mates' pockets.
3. japanese uncle said...
As prerequisite, any private asset in excess of say 10 million pounds must be confiscated right away by the state, in return of which streets and roads can be renamed to honor the individuals offering valuable assets to the public. Foundations set up in an apparent attempt to evade tax will be scrutinized at the same time. An individual would not need that sort of ridiculous money. State can kindly rid those individuals of the burden of worrying about how to spend such money.