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Panorama Tonite: Are The Banksters Still Rackateering?

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http://www.bbc.co.uk/news/uk-13744752' rel="external nofollow">
13 June 2011 Last updated at 02:58 Help The Panorama team has gone undercover to test whether staff in our High Street banks have learnt the lessons from the financial penalties imposed for mis-selling insurance and investment products.

Without regulation what else can we expect.

Regarding the power companies rip-off the "regulator" (Offtwot) agreed that prices were a bit dear. Why not sue them like the banks who have been told to repay the little people in return for a blind eye on the bigger scams andbillion £ bonus skims.

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Do dogs still bark?

ARE THEY STILL SELLING

PREDATORY LIAR LOANS?

I BET THEY STILL ARE....... Otherwise - how can Jo/Jane Bloggs "afford" to "buy" property - even still now..... :rolleyes::rolleyes:

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I am wondering how many banks are going to survive.

They make money by borrowing and lending, and taking a slice of the difference. Trouble is a lot of that slice is taken up by bad debt.

The size of the slice is also determined by the volume of loans that they can make, and clearly that figure is way down on what it used to be. Banks also made money selling insurance products with their loans, and they are about to take a hit for that too.

But it is the volume that I find interesting. If you look at a business in place, most of its costs are pretty much fixed, particularly in the case of a bank. If the bank reduces the amount of business it does, you only need a small reduction in revenue, to wipe out all profit, as any reduction goes straight to the bottom line.

I remember Peston going on about how badly Northern Rock were doing, due to much lower loan volume. If Northern Rock is still struggling, then the other banks are too.

There might be no easy way out for them, they cant increase lending volumes without taking on more risky loans, though this was what they did last time and it needed a huge bailout. They cannot increase margins, because all that will cause is customers going elsewhere, or not taking loans, and those that do may do so with every intention to default.

I cant help but think that if the banks do tighten up on how they behave, they are going to find that the margins on their business is very thin. We might well see huge numbers of redundancies in the banking sector as they face up to the fact that there arent so many people needed to do this anymore.

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The banks aren't. :lol:

Well, either the banks are going under or the taxpayer.

Luckily, our democratically elected representatives will understand whose needs they are there to serve.

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Well, either the banks are going under or the taxpayer.

Luckily, our democratically elected representatives will understand whose needs they are there to serve.

Yes. Blessed are we.

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So not enough business for the companies operating in said market. In normal circumstances the industry would shrink accordingly, i.e., fewer banks. Of course, not operating in a free market, we have a situation where like the UK industries of the 70s the banks are being kept afloat.

At least in the 70s these industries produced something of use. Just how useful is unnecessary debt based on false asset prices.

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<br />And don't you have some business to perform in the nearest woods?

Don't encourage him - he's already a 'spectacle' bear

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<br />I am wondering how many banks are going to survive.<br /><br />They make money by borrowing and lending, and taking a slice of the difference. Trouble is a lot of that slice is taken up by bad debt.<br /><br />The size of the slice is also determined by the volume of loans that they can make, and clearly that figure is way down on what it used to be. Banks also made money selling insurance products with their loans, and they are about to take a hit for that too.<br /><br />But it is the volume that I find interesting. If you look at a business in place, most of its costs are pretty much fixed, particularly in the case of a bank. If the bank reduces the amount of business it does, you only need a small reduction in revenue, to wipe out all profit, as any reduction goes straight to the bottom line.<br /><br />I remember Peston going on about how badly Northern Rock were doing, due to much lower loan volume. If Northern Rock is still struggling, then the other banks are too.<br /><br />There might be no easy way out for them, they cant increase lending volumes without taking on more risky loans, though this was what they did last time and it needed a huge bailout. They cannot increase margins, because all that will cause is customers going elsewhere, or not taking loans, and those that do may do so with every intention to default.<br /><br />I cant help but think that if the banks do tighten up on how they behave, they are going to find that the margins on their business is very thin. We might well see huge numbers of redundancies in the banking sector as they face up to the fact that there arent so many people needed to do this anymore.<br />

We keep seeing the reports of - even millionaires handing in keys & defaulting on their mortgages in USA

Funny how all those Wall Street companies packaged and flogged off all this stuff to foreigners thru their City of London subsidiaries (the dupli-citys)

Are the CDO losses mounting higher daily in Asian investors portfolios and Euro bankster vaults?

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The government is insisting the banks lend recklessly or they have threatened to tax them more.

I'm sure the bankers have given it a lot of thought. They either lend recklessly to create short term bonuses with subsequent taxpayer bailouts or don't lend and have less bonuses.

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"When I first worked in the City of London at the start of the Eighties as a callow journalist, my boss explained how the financial markets worked. The purpose of the Stock Exchange, he told me, was to transfer the savings of the poor into the pockets of the rich, once in every generation. The fortunes of the super-rich have swelled by about a third"

http://www.telegraph.co.uk/comment/columnists/georgepitcher/7633423/Payback-time-for-grandees-of-the-Rich-List.html

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"When I first worked in the City of London at the start of the Eighties as a callow journalist, my boss explained how the financial markets worked. The purpose of the Stock Exchange, he told me, was to transfer the savings of the poor into the pockets of the rich, once in every generation. The fortunes of the super-rich have swelled by about a third"

http://www.telegraph.co.uk/comment/columnists/georgepitcher/7633423/Payback-time-for-grandees-of-the-Rich-List.html

Sums it up perfectly...

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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