egafd.com

I and indeed you have today (without asking me or you by the way) bailed out the countrys banks with our tax money (that will now HAVE to be raised in order to pay for it) to steady the sinking ship and allow these said banks to loan the money back to you and I AND THEN OF COURSE CHARGE US FUCKIN EXTORTIANATE INTEREST !

How can this be right ? Legally ? It is open corruption ! Fuck me and we complain about Russia.

I think it's time to emigrate from this bent shithole !

True Dave, see my post further down about cockwaving.

Dave, I never thought I would see the day when the banks were nationalised.

And I never thought I'd see the day when the Tories would want the banks nationalised.

But for both to happen the same day??? Fucking hell.

Reggie Perrin wrote:

> As ever in the UK .......

So it's only happening in the UK then??

Not being an economist or having a clue about how it works all this baffles me.

As I understand it the problems are being created because 'the banks' don't have confidence to loan to each other and the rescue packages are to get this confidence going.

Although that is being done things are still falling because 'the banks' don't have confidence.

As I see it 'the banks' = some people in an office making a decision.

So the problem is down to these people not having the confidence despite all the assurance.

If that is the case why not just stop those without the confidence from doing the job and replace them with someone who has the confidence to do what is required?

With regards to emigrating Dave good luck with that but from what I've seen the shitholes are all over the world at the mo.

randyandy wrote:

> If that is the case why not just stop those without the
> confidence from doing the job and replace them with someone who
> has the confidence to do what is required?

Because the banks who don't have the confidence to lend also have the money, and they are not UK banks.

Essentially, British banks allowed their customers to borrow more money than they themselves had. How did they get away with it? By borrowing the money themselves on the international money market - obviously at cheaper rates than your mortgages, so they can make a profit.

The trouble is: all that borrowing on the money market was short-term, while their lending is long-term, and with the money market seizing up the banks struggle to fill that funding gap, and especially fill it without making huge losses, as the interests rates for inter-banking loans have shot up.

I agree on all counts.