hopper

Seeing as most UK banks appear to be PLC's and are run as businesses, should the UK government guarentee savers balances if there is a run on a bank and it fails?

Does it not set a very dangerous precident and where do they draw the line as to which types of businesses they are willing to underwrite or does it give directors of banks a free reign over taking risky investments as they are safe in the knowledge that their savers money is secure no matter what?

__________________

A gourmet who counts calories is like a tart who looks at her watch


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

View the Google
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
at Tenerife Times

Delderek

Bank deposits have always been guaranteed in the UK but with a limit of 30.000 pds.

Geordiecraig

yeah thats right. I dont understand why all these folk are withdrawing all their money when, if they have under 30 grabd, its guaranteed

hopper

Didn't I read somewhere that the Northern Rock had targeted savers who had in excess of £30,000 to invest by offering very good intrest rates?

I think it was a point raised by Janet Street-Porter on this weeks Question Time, she implied that many of the people queueing were indeed investors with over £30,000 at risk.

So lets re-phrase the question, do you think the Government should guarentee deposits of OVER £30,000 should there be a colapse of one of the UK banks?

__________________

A gourmet who counts calories is like a tart who looks at her watch


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

View the Google
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
at Tenerife Times

mac

So if a bank collapses the good old tax payer picks up the tab while the directors now doubt keep their nest eggs. Could the banks not pay an insurance to cover them like us mere mortals have to when we take out a mortgage with them in case we fail!!!!

__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Karen1234

The Chancellor shouldn't have had to back up the Northern Rock, but the government didn't have a lot of choice if it wanted to stay in power. The Northern Rock is a regional bank ie a lot of Labour voters, that would have voted elsewhere had they lost their money. We are all led to believe that our money is safe in banks. Hence why people put their hard earned cash there instead of in shares. Only £2000 is 100 per cent guaranteed, then it is 90 per cent of the next £33000 - not a lot in this day and age. I have money in the Northern Rock and have had it there for years. Yes, I did get very nervous - but its still there. I also have shares in Northern Rock. I have been tempted to buy more as they are going for a song.

Hookie

I would buy some more shares Karen1234 if possible, they were up 12% yesterday and Northern Rock are looking ripe for a buy out.

__________________
[COLOR="Blue"]Blocked Drains? We'll flush your problems away. Please PM for details.[/COLOR]

[COLOR="Red"]Brand new concept in Spa's PM for info.[/COLOR]