LiveinHope Posted July 20, 2010 Share Posted July 20, 2010 (edited) Article Well I don't save with them anymore due to their rates, but when I did, their sponsorship of this financially bloated sport stuck in my craw Nice to see 20 million quid was considered too low a deal...because England were deemed too good Well, let's see. Edited July 20, 2010 by LiveinHope Quote Link to comment Share on other sites More sharing options...
Fishman Posted July 20, 2010 Share Posted July 20, 2010 Article Well I don't save with them anymore due to their rates, but when I did, their sponsorship of this financially bloated sport stuck in my craw Nice to see 20 million quid was considered too low a deal...because England were deemed too good Well, let's see. Unfortunately I see a whole host of financial institutions queueing to buy the sponsorship rights. Let's face it £20m+ to HSBC, Barclays et al is small change. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted July 20, 2010 Share Posted July 20, 2010 It's because nationwide DONT NEED to advertise anymore. They are the only financially stable building society left. They don't want to compete with big banks for the type of customer who banks with bank because of the football team they sponsor. People that stupid are likely to be big defaulters. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted July 20, 2010 Share Posted July 20, 2010 Possibly it's because a lot of Nationwide members told them just what we thought of wasting our money on one of the few occupations more overpaid than investment banking! Quote Link to comment Share on other sites More sharing options...
blue skies Posted July 20, 2010 Share Posted July 20, 2010 NASHVILLE, Tenn. (MarketWatch) -- Economists and financial analysts are currently arguing whether the economy will experience a "double dip," a recession followed by a short recovery, followed by another recession. Some think the worst is behind us, and that output and employment will slowly but steadily increase during the next few years. Others believe we are headed for another crash. The lessons from the last business cycle favor the case for pessimism. Stock Charts Vs. Spreadsheets Market chart readers view stocks as being vulnerable to further declines, while fundamental analysts see stocks as a bargain given strong corporate profits, reports Barron's Michael Santoli. It has been said that if one laid all the world's economists end to end, they wouldn't reach a conclusion. Even so, a surprisingly large number of economists now agree that then-Federal Reserve Chairman Alan Greenspan made a tragic mistake. After the dot-com bubble burst in 2000, Greenspan opened the monetary floodgates. Specifically, Greenspan allowed the "monetary base" to increase 22% from June 2000 through June 2003. The monetary base, also called "high-powered money," is the base upon which bank loans are pyramided, expanding the total amount of money held by the public. During the same three-year period, Greenspan cut the federal funds rate -- the interest rate commercial banks charge each other for overnight loans -- from 6.5% down to 1%, the lowest federal funds rate in more than 40 years. The rationale for Greenspan's easy-credit policy was to provide a "soft landing" for the economy in the wake of the dot-com crash and Sept. 11 attacks. And for a while, it seemed he had succeeded. People marveled that housing prices continued to rise, even amidst the recession of 2001. Indeed, people referred to Greenspan as "the Maestro." In retrospect, economists across the political spectrum recognize the role Greenspan's Fed played in fueling the housing bubble. The more cynical analysts argue that Greenspan's policies weren't "easy" at all and merely postponed the inevitable day of reckoning for the economy. Rather than gritting its teeth and suffering through the necessary adjustments in the early 2000s, the nation got an injection of artificial credit that masked the underlying problems with a euphoric boom. The housing market eventually collapsed, as all bubbles do. At this point, Ben Bernanke was at the helm of the Fed. Unfortunately, he got his policies out of Greenspan's playbook, except Bernanke doubled down. Rather than pushing short-term interest rates down to 1% as Greenspan did, Bernanke has pushed them down to almost zero percent. And in contrast to Greenspan's 22% increase in the monetary base during a three-year period, Bernanke increased it by 94% in one year. The unprecedented monetary stimulus from the Fed, in conjunction with the massive deficits of the federal government, did succeed in partially re-flating the stock market and stabilizing home prices. Time magazine named Bernanke its 2009 Person of the Year, and Obama administration officials are taking credit for nipping the Great Recession in the bud. Yet the parallels with the Greenspan episode are clear. It makes no sense to "rescue" the economy by having politicians borrow and spend trillions of dollars. It also makes no sense to fix the horrible mistakes of the housing-bubble years by having the Fed create electronic money out of thin air to buy "toxic assets" from investment banks that would otherwise be insolvent. The alleged economic recovery is unfortunately just as illusory as the prosperity of the housing-bubble years. It is disturbing to consider that if this is the calm before the storm, then the pending crash will be painful indeed. In the current debate on the direction of the economy, those predicting a "double dip" have the stronger -- if more depressing -- case. Robert P. Murphy is a senior fellow in Business and Economic Studies at the California-based Pacific Research Institute. Quote Link to comment Share on other sites More sharing options...
lulu Posted July 20, 2010 Share Posted July 20, 2010 Article Well I don't save with them anymore due to their rates, but when I did, their sponsorship of this financially bloated sport stuck in my craw Nice to see 20 million quid was considered too low a deal...because England were deemed too good Well, let's see. Good, I hope they get rid of the Little Britain adverts too. I was in Nationwide a couple of weeks ago and got the distinct impression from the staff member I was talking to that the staff object to payments to 'celebrities' for advertisments. Surely if they stuck to providing decent rates then they would get the custom without the need to spend a fortune on sponsorship and advertising. Quote Link to comment Share on other sites More sharing options...
Byron Posted July 20, 2010 Share Posted July 20, 2010 I really do not see why any company should sponsor a professional sports team. Why don't England sponsor Nationwide? Quote Link to comment Share on other sites More sharing options...
huw Posted July 20, 2010 Share Posted July 20, 2010 It's because nationwide DONT NEED to advertise anymore. Why did they need to advertise in the first place? Mutuals exist for the benefit of their members; if anything, rapid growth (which tends to be expensive and risky) delivers the opposite of this. Diverting the resources toward offering better deals to members would cause organic growth, by actually being more competitive. And being smaller, nobody would be looking at them to bail out the feckless Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 20, 2010 Share Posted July 20, 2010 I was on the telephone today to Nationwide and they wanted me to sign up to some credit so I told them I was in the process of removing my savings because of the cr*p interest rates. Wish I had told them that it was also because of them ramping up the property market. Quote Link to comment Share on other sites More sharing options...
geoffk Posted July 20, 2010 Share Posted July 20, 2010 When they announced 120% mortgages for members i withdrew a lot of money out and told them they would not be loaning my money to fools... they were not amused and head office phoned to try and change my mind...i still use them for currant accounts.. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted July 20, 2010 Share Posted July 20, 2010 (edited) Its ok, England have found 3 companies prepared to step in... http://www.newsbiscuit.com/2010/07/06/total-****-and-ups-in-joint-sponsorship-deal-with-england-football-team/ Edited July 20, 2010 by daiking Quote Link to comment Share on other sites More sharing options...
Clocker Posted July 20, 2010 Share Posted July 20, 2010 (edited) Good, I hope they get rid of the Little Britain adverts too. Edited July 20, 2010 by Clocker Quote Link to comment Share on other sites More sharing options...
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