BanksYour Ginger Fuhrer froths, "I hate my bank. Not because of debt or anything but because I hate being sold to - possibly pathologically so - and everytime I speak to them they try and sell me services. Gold cards, isas, insurance, you know the crap. It drives me insane. I ALREADY BANK WITH YOU. STOP IT. YOU MAKE ME FRIGHTED TO DO MY NORMAL BANKING. I'm angry even thinking about them."
So, tell us your banking stories of woe.
No doubt at least one of you has shagged in the vault, shat on a counter or thrown up in a cash machine. Or something
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chthonic, Thu 16 Jul 2009, 13:15)
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Yes it's not an ideal medium for debate. Better for dick jokes and flaming.Can't argue that much of the financial engineering that went on was massively misguided and very dangerous. Your CDO squared example is particularly egregious. But the issue wasn't the concept itself, but the huge mis-rating that went on. There's no harm in leveraging an asset up to a multiple consistent with its quality; the problems began when those estimations of quality were hugely overstated, leading to more risk than was expected.
We/they have cocked up in truly epic fashion. I suppose the difference in our opinions is that you think it's terminal, and I don't.
I'd comment more but I'm far too busy asset-stripping a family-run airline ;)
All the best!
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Scrumper, Thu 23 Jul 2009, 12:31,
1 reply)
yepWe shall see eh.
Hope for the best, but prepare for the worst, at the very least, get out of debt. Oh, and keep some *real* cash under the bed.
cheers.
(, Thu 23 Jul 2009, 15:35, closed)
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