Tuesday, Feb 16, 2010
Money for nothing
BBC: UK bank Barclays reports profits up 92% to £11.6bn
Well done low interest rates!
Posted by brickormortis @ 12:07 PM (936 views) Add Comment
12 Comments
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1. mountain goat said...
They are parasites but actually I am pleased they made some profit. They pay tax. More tax income means less chance of the UK going the way of Greece.
2. cat and canary said...
"However, a report by the Institute of Directors suggested that almost 60% of businesses seeking bank finance in the past year had been rejected - with some saying they had been forced to borrow on their credit cards."
... says it all really.
3. jack c said...
cat and canary said..."However, a report by the Institute of Directors suggested that almost 60% of businesses seeking bank finance in the past year had been rejected - with some saying they had been forced to borrow on their credit cards." - just as credit card interest heads up to a 12 year high
4. Thecountofnowhere said...
With inflation at 3.5 % surely prices dropped !!!
5. Earth said...
Barclays, unlike many other banks have not gone to the government for bail outs etc. Their profits are their own making. If all UK banks had operated more like Barclays then we might not be knee deep in it.
6. a saver said...
Presumably they will be carefully salting this away to hedge against losses from CDIs/property/bad loans, rather than distributing as bonuses and dividends etc...
7. waitingtobuy said...
The investment side of major global banks all appear to be making massive profits (Ive not heard of any losers).Is it not the case that to have winners there has got to be losers?or are they just swapping gov.stimuli?
8. 51ck-6-51x said...
Jac c said, "just as credit card interest heads up to a 12 year high"
- As per the track by Fischerspooner,
"""
Take everything
Take everything
All you can bring
All that I want
The more, the best, the better than I am
The truth, the real, the fine archetypical man
I got supplies, you got demands
I got the sense that you can't understand
I got supplies, you got the demand
I got the feeling you don't give a damn
You can have it all
Anything you want
You can have it all
Anything I've got
Give everything
Give everything
All I can bring
All that you want
How much, how long can you really make it last
Too much, too fast, too little
It was really a blast
I got supplies, you got demands
I got the sense that you can't understand
I got supplies, you got the demand
I got the feeling you don't give a damn
You can have it all
Anything you want
You can have it all
Everything I've got
I am getting ahead
I've paid my dues
I'm getting ahead
"""
9. 51ck-6-51x said...
Apologies Jack!
10. mark said...
didnt i tell you all to buy barclays shares ages ago and got beaten down for it!!!!.....
11. peter rocker said...
waitingtobuy: A market where any one investor's gain is exactly matched by losses elswhere is called a 'zero sum game'. The foreign exchange market is usually given as an example of this. Under 'Economics' here: http://en.wikipedia.org/wiki/Zero-sum, there is a description of non-zero sum markets.
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