Is it Me?

[Gardian]

OK, we all understand the global financial crisis (well, we sort-of think we do), and maybe accept that the measures that have been taken today to pump £billions in to the UK banks will perhaps stabilise things.  (However, if I was a High St bank shareholder, I might be feeling less than ecstatic, but that's another debate).

What is really p*****g me off, is hearing and seeing adverts for those very same banks still over the last few days. Sure, advertising contracts that may have been made months ago, but does nobody have the sense to just zap them for the time being?

Or is it me?  

[Bugsy]

No its not just you..............

I'd also quite like to see the bosses of the banks on the TV giving an explanation or two.

[woolybanana]

They only did what was accepted as right at the time by all banks and bankers.

What is more worrying is that the government has got its hands on the banking system and will appoint directors. Remember Crédit Lyonnais.

[Dick Smith]

And they are still advertising credit cards and other financial 'services'. I got two in the post yesterday, and an automated phone call today.

[Gardengirl]

No, definitely not you, Ian!

I went in to the local branch of our bank, in UK and found 7 people on duty, 3 of whom were just standing around chatting. I don't expect half the staff to be suddenly sacked, but I thought it was just wasting our money - maybe they could have been in their little private areas, tidying up work or something! HBOS!!

Later in the day I had a call to ask if I would like to have a chat to one of their financial advisors!!! I felt I might be able to give them advice, but certainly don't want any kind of advice from them! 

Jo

[Chancer]

Let us see if we can get our heads together and give them some suggestions on how to run their businesses, profitably, equitably and without having to be bailed out by the government.

I am not being flippant but as so many banks in so many countries are lining up to dip their snouts in the public trough they must have forgotten some of the basics whilst making their expensive and pointless adverts.

I will make a start:

Remember that you are "borrowing" the money that investors have trusted you with and you carry both a moral and financial  responsibility to them.

Use this money that you have borrowed to lend prudently to others at a higher rate always ensuring that they are able to make the repayments.

The difference between the interest that you pay on deposits and receive on lending is your profit, ensure that your overheads do not exceed this.

And finally, Dont be bloody greedy! - Ok I know that one is a bit naive.

[Scooby]

I think the problem with the banks is that they are relying too heavily on the wholesale markets rather than 'abusing' investers monies.  They also have the problem that, because they are listed, they are subject to the vagaries of the market.  If their shares fall in price -  something they have little control over - the rating agencies downgrade them and their borrowing costs go up.  Added to this is the general problem with fair value accounting; they are forced to value at negliglible amounts assets that have a much higher value in terms of the return they are paying, simply because the market for these assets has frozen.  Again this leads to reporting of non existent losses, decline in share price etc...  Much of the problems are due to lack of confidence rather than actual bad debts.

[Tony F Dordogne]

It seems that all the commentators are quite blithely saying that the UK/US/Anywhere's government is going to supply XX billions of eauros/pounds/Gibrovian dinarios to the banks and to do so, it has to borrow the money.

From where, from whom, surely they would usually borrow from the banks, the public, other countries but if we're all in this mess together, where does the dosh come from?

Or if you're cynical like me, does all this actually mean that it's just a paper exercise and that people say the money if being loaned and it's written onto balance sheets but it doesn't really exist?  They're now talking about trillions being loaned.  Well, who has got trillions of anything money wise laying around waiting to be used?

[andyh4]

Well, who has got trillions of anything money wise laying around waiting to be used?

 

Zimbabwe?

About the cost of a laof of bread