10/08/2010 by Fin.

The United Kingdom’s four biggest banks: HSBC, Barclays, Lloyds Banking Group and the Royal Bank of Scotland have made an amazing turnaround . . . or have they? In 2008 as a whole they lost £22.3bn, while in the whole of 2009 they made £13.7bn.  All these banks saw impairments suffer on bad loans fall dramatically. This means that losses were not as bad as they had forecast, so the banks had to set aside far less money to cover them. But If you strip out the fall in the charge for bad debts, it’s difficult to see that there’s much growth. And this could be a problem if impairments start to rise again. So these bank figures are just making everyone feel better with no real substance.

Posted in Finance | 3 Comments »

14/07/2010 by Fin.

The Financial Services Authority wants to ban some self-cert mortgages with new rules to stop lending without proof of income. This was talked about in the eighties when it was found that people couldn’t afford their homes and repossessions went through the roof. It was said at the time that the Thatcher government had been to blame and were slow to react, they also got a pasting from the media. I see a deja vu coming on here, why won’t politicians ever learn from the past or is their always something underhanded going on in the housing and mortgage market?

Posted in Finance | 2 Comments »

30/06/2010 by Fin.

It has been said that public spending cuts could lead to over a million jobs being lost in this country by 2015. All I can see is that once again there will be queues at jobcentres. Also is it fair for this uncaring Coalition to put pressure on Jobseekers and those who have health problems to find jobs that just aren’t there.

Posted in Finance | 2 Comments »

03/02/2009 by Fin.

Northern Rock and Bradford & Bingley have collapsed, the Cheshire and Derbyshire Building Societies have been rescued, and Halifax Bank of Scotland needed a bail-out from Lloyds TSB. Friends of mine are relieved to have just received their savings (paid by the government) from the collapsed internet bank Icesave. Does anyone know the safest place for me to put my money? 

Posted in Finance | 1 Comment »