Makes you wish you were on benefits . And i don't mean being made redundant, but as in never bothering to work in your entire life and staying out of the rat race. Get your girlfriend pregnant,get a house with your rent paid for you and never get taxed on your income.No poll tax,no mortgage,free prescriptions and a disposable income equal to an average wage if you know what to claim for. All benefitee's with an income equal to an average wage should have their benefits taxed. For every penny in the pound taxed over the 20p mark they sould also pay a penny in the pound from their income. With another 7 years still to go on my mortgage,i think why do i bother.What a mug.Perhaps i should have taken the easy option.
It is important to realise that this liability will only materialise to the sum qouted if all the banks' investments covered become worthless. We will be paid a premium for the cover provided to the banks and could even make a profit on the deal.
The very fact of covering these liabilities ill enable the banks to resume prudent lending and will hasten the recovery.
't is important to realise that this liability will only materialise to the sum quoted if all the banks' investments covered become worthless'..one has to say that their track record with 'toxic' debt is not terribly good so far, so all bets are off. 'The very fact of covering these liabilities ill enable the banks to resume prudent lending and will hasten the recovery'..I don't think you realise the deep irony of that statement.
IMHO I believe that IF the UK are to start "Printing Money" it would only work IF every other major country around the world followed suit, there is absolutely no way the uk can get out of this recession on its own, for instance we start having a turn around then all of a sudden China economy slumps deeper which DOES have a major impact on ours, or the USA keeps struggling again it will have a huge impact on us over here so I cant see it working TBH unless other countries follow suit & the thing is "I don’t think they will"...so I cant see it working Regardless of how much is printed...
So maybe just maybe "Quickbeam"'s post above has a genuine point...
I thought banks could write of loans as well as the government, does this mean my childrens children will be in debt becasue of the royal bank of scotland. Have the rules changed or is the gov allowed to chop and change rules or is the bank of england chopping and changing the rules. Am i missing something some part of legilsation that was passed that im not aware of it.
It is quite clear, even to the dullest of minds. that they are making this up as they go along. It always raises a wry smile in me when people rabbit on about how professional and knowledgeable the banks are and how we need them so desperately to 'save' us when they (and the Government) have not got a clue what to do apart from winging it. Funny life eh.
'Taxpayers may become liable for £500bn of poor loans and investments made by Royal Bank of Scotland and Lloyds TSB.'..call me stupid but can anyone see the obvious flaw in this stunningly brilliant business plan?