howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
They are all on the Dole: Banks and businesses;large and small.
From the uber-favourable Government Contracts to the encouragement of tax complexity that assures that as much public money is squirrelled away as is humanly possible.
The only competition in the business world of Britain is for the public-pap, the only advancement is from teat-to-trough.
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Very strange and weird comments there Tom.
The banks certainly do a lot of lobbying and have attempted to lobby to some advantage for themselves out of the FSA's distribution review to the disadvantage of IFAs, but thankfully it has backfired at least to some extent, though some of my less forward thinking IFA competitors may think otherwise.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
when it transpired that the harbour board had employed a lobbying company to help their case there was an uproar, this must be a lot worse.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
"has also accused banks of implementing a "lobbying strategy that exploits misunderstanding and fear" to thwart banking reform."
This is downright outrageous! The more these crooks get found out, the more disgust will be shown towards them.
They must think we are totally stupid!
It's tht last attempt of the city bankers to try to blindfold people into believing that it is in our interests that they continue stuffing their private pockets with money and banking-shares.
But to go so low as to try to influence the Government, and to devise strategies to make us the common people fall into fear for what might happen when they eventually get their wrists cuffed... only adds insult to injury.
Double the punishment!
Guest 698- Registered: 28 May 2010
- Posts: 8,664
#6, para 3; Alex, they might be right.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Alexander - you do get excited, calm down, nothing particularly unusual in this.
I have no idea specifically what that quote refers to regarding banking reform but it could be raising perfectly valid concerns. The job of policy makers is to evaluate that concern and balance it against other objectives. Perfectly legitimate process. This happens all the time over virtually all matters right down to and including local planning matters.
Ross Miller
- Location: London Road, Dover
- Registered: 17 Sep 2008
- Posts: 3,706
Alex - if the cap fits...
But seriously this is standard corporate fare in this day and age
"Dream as if you'll live forever. Live as if you'll die today." - James Dean
"Being deeply loved by someone gives you strength,
While loving someone deeply gives you courage" - Laozi
Jan Higgins
- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,888
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i think the main issue is being overlooked here, these are not wholly private businesses.
they are losing money yet are dipping their hands in the taxpayers pockets to advance their case against further banking regulations.
Ross Miller- Location: London Road, Dover
- Registered: 17 Sep 2008
- Posts: 3,706
Are they Howard?
Where do you get your information that they have sought additional funds from their shareholders? I havent seen a rights issue advertised.
"Dream as if you'll live forever. Live as if you'll die today." - James Dean
"Being deeply loved by someone gives you strength,
While loving someone deeply gives you courage" - Laozi
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
nice try ross, shareholders and taxpayers are two different entities.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Howard in the case of Lloyds and RBS they are one and the same.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
are we to assume that no taxpayers money is invested in these two concerns?
Guest 698- Registered: 28 May 2010
- Posts: 8,664
No Howard, that's why in those concerns the taxpayer is also the shareholder.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
if us taxpayers are shareholders then i do not go much on the deal.
the banks operate at a loss then spend money in order to look good.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
The bankers are employing armies of lobbying firms because they are not able to express their views in any way which the masses would agree to.
These lobbying firms are, to the best of my knowledge, mercenaries who contact ministerial posts to try to impress a point. They make sure they're paid for it by their customers.
But I think the Government is concerned, because they don't want these people coming along trying to tell them what to do and what not to do. After all they are paid merceneries.
Ross Miller- Location: London Road, Dover
- Registered: 17 Sep 2008
- Posts: 3,706
The point Howard is that the government owns shares in these 2 entities - like any other limited liability concern they raise money either through issuing shares, issuing commercial paper (bonds) or borrowing at commercial rates. The taxpayer will only have to put their hand in their pocket if the banks need further bailing out or they act as a lender. The lobbyist story is old beer, the truth is losses are down on a year ago and certainly in the case of Lloyds if the economy picks up even slightly the state should be able to offload the shares at a profit sometime in the next year or so; RBS will take a bit longer as it is still suffering from the regime of Fred the Shred
"Dream as if you'll live forever. Live as if you'll die today." - James Dean
"Being deeply loved by someone gives you strength,
While loving someone deeply gives you courage" - Laozi
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Lloyds problems are only because of their take-over of HBOS at the behest of Gordon Brown and because they wanted by so doing to increase their market share. Prior to that they were relatively well run, well by the standards of banks anyway.
