It's Just Not Working is it Gordon.......

[broc]

I was looking for somewhere to stash spare cash left over at the end of the month but still have access if I needed it in an emergency, Halifax offered the best rate (only 2.85%).

 

I am going to rethink my plan now though ....

[torledo]

I don't want to spend my savings when I get an 0% finance deal though do I ?

 

fair enough.

 

And as for the banks, well I own some HBOS shares so I can have a say and if the Tory Boys get in they will do their normal sell off so I may get some more.

 

You have some HBOS shares, you'll have voting rights, you don't have much influence as a small investor.....you certainly can't have any influence over individual lending decisions.

 

 

In regards to overdraft fees, I agree 100% but in regards to a CC limit, I never said I have a 'right', I stated I would like to have it extended however I was refused which is odd as the government [ and all sides of the political realm agree ] that banks should try and lend more. And this is ironic as we now own the majority share.....

 

 

i would ignore the rhetoric from govt. about lending more. The bailout banks are certainly doing what they can to meet lending targets, there are issues around why some targets aren't being met but the reasons will surprise quite a lot of people. You can't judge their effectiveness in overall lending based on individual refusals.

 

The climate [ in my opinion ] is a mess, the mess was made my greedy bankers and financial institutions, and even now, many months on, they are still screwing it up.

 

agreed. the retail banking sector was undone by it's own hubris and greed. But the govt. are just as culpable, the foisting of blame onto the banks works both ways. Do we blame the banks for lending recklessly overall pre-recession. yes. do we blame them for being more circumspect in the aftermath. strangely, yes. I guess we just want them to lend us money AND the right to blame them when things go pear shaped.

 

Although there doesn't seem to be any evidence of rationing of credit. as i say these lending decisions are done on a case by case basis. I don't think it's helpful to build this retail banking bogey man which is responsible for all economic ills.

[mattx]

 

You have some HBOS shares, you'll have voting rights, you don't have much influence as a small investor.....you certainly can't have any influence over individual lending decisions.

Never said I wanted to make those types of decisions - I would however like to vote on how the bank is run.....

 

i would ignore the rhetoric from govt. about lending more. The bailout banks are certainly doing what they can to meet lending targets, there are issues around why some targets aren't being met but the reasons will surprise quite a lot of people. You can't judge their effectiveness in overall lending based on individual refusals.

 

No you can't judge their overall effectiveness but when indivudual people will when read in the papers and see on the news that the government have instructed the banks to lend and they clearly arn't, it will get their backs up. [ And quite understandably ]

 

agreed. the retail banking sector was undone by it's own hubris and greed. But the govt. are just as culpable, the foisting of blame onto the banks works both ways. Do we blame the banks for lending recklessly overall pre-recession. yes. do we blame them for being more circumspect in the aftermath. strangely, yes. I guess we just want them to lend us money AND the right to blame them when things go pear shaped.

 

Just a quick history lesson, it was Regan and Thatcher who were responsible for the deregulation of the banks. And look what has happened.

 

Although there doesn't seem to be any evidence of rationing of credit. as i say these lending decisions are done on a case by case basis. I don't think it's helpful to build this retail banking bogey man which is responsible for all economic ills.

 

 

No evidence ? Well me not getting an extra £2000 in all the evidence I need !!

[CHR1S]

As an aside why not get a personal loan for the £2000? They are coming in at around 7% and would solve your immediate issue. Strange they wont take your scrappage allowance as deposit too.

[Batman]

Even worse, I bet.

 

Yes that's a lot worse, betting can lose you an awful lot of money.

 

Which is why the stock market is a bad place to do business

[mattx]

As an aside why not get a personal loan for the £2000? They are coming in at around 7% and would solve your immediate issue. Strange they wont take your scrappage allowance as deposit too.

 

Won't need to, I'll use my other Credit Card. Then will pay it off when I get the Bill.

[torledo]

 

Just a quick history lesson, it was Regan and Thatcher who were responsible for the deregulation of the banks. And look what has happened.

 

 

and you wondered why i reckon'd you were a labour voter ?

 

Was wondering how long before thatcher cropped up.

[Guest Guest]

[quote=torledo;475757Was wondering how long before thatcher cropped up.

 

Yep and its always the same record; "It was Thatcher that did x, y and z". Its not like Labour havnt had time to put things right.

[ICT_GUY]

I spent the better part of 3 hours trying to argue my case on the phone to have my limit reduced. At the minute between my 5 cards (none of which are maxed and I always pay more than the minimum by atleast £100 if possible) my limit sits at the following

 

£5000 on Virgin American Express

£6000 on Virgin Mastercard

£11000 on Barclaycard Mastercard

£12000 on Tesco "clubcard" Mastercard

£18000 on Barclaycard Visa

 

I spent an absolute frickin age speakin with barclay card to have both cards reduced by £8000 on the Visa, and £5000 on the Barclays Mastercard, and an age on the phone to tesco to get it reduced by half.

 

Getting it reduced is harder than having it increased!

 

Quickest way to destroy your credit rating.

[CHR1S]

Won't need to, I'll use my other Credit Card. Then will pay it off when I get the Bill.

 

Mattx, I love your posts - pointless and full of rants but you always manage to make me chuckle!!

[mattx]

and you wondered why i reckon'd you were a labour voter ?

 

Was wondering how long before thatcher cropped up.

 

Well I was putting my money on Hitler.

 

From Wikipedia - [ so NOT set in stone ]

 

Margaret Thatcher became Prime Minister with a mandate to reverse Britain's economic decline. Thatcher's political and economic philosophy emphasised reduced state intervention more free markets, and more entrepreneurialism.[citation needed] She once slammed a copy of Friedrich Hayek's The Constitution of Liberty down on a table during a Shadow Cabinet meeting, saying, "This is what we believe."[21] Thinkers closely associated with Thatcherism include Keith Joseph, Enoch Powell, Friedrich Hayek and Milton Friedman.[22]

 

Thatcher's political and economic philosophy emphasised reduced state intervention as well as free markets and "entrepreneurialism".[22] She vowed to end excessive government interference in the economy and attempted to do this through privatizing nationally-owned enterprises. After the James Callaghan government had concluded that the Keynesian approach to demand-side management failed, Thatcher felt that the economy was not self-righting and that new fiscal judgements had to be made to concentrate on inflation.[23] She began her economic reforms by increasing interest rates to slow the growth of the money supply and thus lower inflation.[24] In accordance with her "less government intervention" views she introduced public spending cuts[25] particularly on social services such as health care, education, and housing. She also placed limits on the printing of money and legal restrictions on trade unions.

 

By January 1982 the inflation rate had fallen to 8.6% from earlier peaks of 18%. By 1983 overall economic growth was stronger, while inflation and mortgage rates were at their lowest levels since 1970.[26] The term "Thatcherism" came to refer to her policies as well as aspects of her ethical outlook and personal style, including moral absolutism, nationalism, interest in the individual and an uncompromising approach to achieving political goals.

 

After the 1983 election, the Conservative majority expanded, Thatcher continued to enact her economic policies.[25] The UK government sold most of the state's large utilities.[25] The policy of privatisation was a main component of Thatcherism. When Thatcher was forced to resign as British Prime Minister in 1990 British economic growth was on average higher than the other large EU economies (Germany, France and Italy). However this was accompanied by poor social conditions compared with the rest of the EU.

 

The price of these economic policies was high unemployment that embarrassed the Thatcher government so much that the definition of unemployment was changed 31 times in order to come up with lower figures. Despite this, the official rate of unemployment in the United Kingdom increased to 9.1% in the years 1979-89 after it had been 3.4% between 1973-79 and 1.9% between 1960-73.[4][27]

 

In 2001 Peter Mandelson, a Member of Parliament belonging to the British Labour Party and closely associated with Tony Blair, famously declared that "we are all Thatcherites now."[28] In reference to contemporary British political culture it could be said that a "post-Thatcherite consensus" exists with regard to economic policy. In the 1980s the now defunct Social Democratic Party adhered to a "tough and tender" approach in which Thatcherite reforms were coupled with extra welfare provision. Neil Kinnock, leader of the Labour Party from 1983–1992, initiated Labour's rightward shift across the political spectrum by concurring largely with the economic policies of the Thatcher governments. The New Labour governments of Tony Blair have been described as "neo-Thatcherite" by some since many of their economic policies mimic those of Thatcher.[29][30]

 

Most of the major British political parties[who?][citation needed] today accept the trade union legislation,[neutrality is disputed] privatisations and general[clarification needed] free-market approach that Thatcher's governments installed. By 2009 no major political party in Britain was committed to reversing the Thatcher governments' reforms of the economy.[30]

Edited March 10, 2010 by mattx

[mattx]

Mattx, I love your posts - pointless and full of rants but you always manage to make me chuckle!!

 

Life is pointless, I just enjoy the stupidness of it all. And if that means lighting the touch paper and standing well back so be it.

Edited March 10, 2010 by mattx

[mattx]

Few things on there I never knew.....

 

Credit Rating: How it works and how to improve it ...

[sippo]

Don't forget that if you keep applying for cards/loans that also effects your credit status as I found the hard-way!!

 

As for personal loans, they advertise at 7% but more are like 20% and thats with a good credit rating!

[somabc]

I spent the better part of 3 hours trying to argue my case on the phone to have my limit reduced. At the minute between my 5 cards (none of which are maxed and I always pay more than the minimum by atleast £100 if possible) my limit sits at the following

 

£5000 on Virgin American Express

£6000 on Virgin Mastercard

£11000 on Barclaycard Mastercard

£12000 on Tesco "clubcard" Mastercard

£18000 on Barclaycard Visa

 

I spent an absolute frickin age speakin with barclay card to have both cards reduced by £8000 on the Visa, and £5000 on the Barclays Mastercard, and an age on the phone to tesco to get it reduced by half.

 

Getting it reduced is harder than having it increased!

 

Well thats easy that means a new job overseas and £52,000 in your Cayman islands bank account.

[torledo]

Yep and its always the same record; "It was Thatcher that did x, y and z". Its not like Labour havnt had time to put things right.

 

and give labour another 13 years and it STILL won't be enough time or trillions to correct the wrongs of the thatcher era.

 

I think the biggest problem is that all those who complain about that era are just as much beneficiaries of the savings and investments revolution. Infact, we all are. Whether it's buying cars on finance, buying corporate bonds or investing in countless other financial products, gearing to invest in property, shares from demutualisation and privatisations [probably long since sold at a fat profit]...i could go on.

 

Thatcher's children.

[torledo]

haha. I posted my last post and then read your wikipedia link and noticed the mandleson 'were all thatcherites now' line.

 

hell, yeah.

[mattx]

haha. I posted my last post and then read your wikipedia link and noticed the mandleson 'were all thatcherites now' line.

 

hell, yeah.

 

And that is why there is NO Labour party now....

[mattx]

and give labour another 13 years and it STILL won't be enough time or trillions to correct the wrongs of the thatcher era.

 

I think the biggest problem is that all those who complain about that era are just as much beneficiaries of the savings and investments revolution. Infact, we all are. Whether it's buying cars on finance, buying corporate bonds or investing in countless other financial products, gearing to invest in property, shares from demutualisation and privatisations [probably long since sold at a fat profit]...i could go on.

 

Thatcher's children.

 

Try telling people who lost their homes because of black Wednesday are beneficiaries......

[srochford]

Hope that clears it up or would you like me to draw you some nice pictures of flowers instead ?

 

Flowers, please! I don't think there's enough colourful stuff in your posts :-)

[mattx]

Flowers, please! I don't think there's enough colourful stuff in your posts :-)

 

Take your pick.....[ from my garden ]

 

2009 in the garden - a set on Flickr

[torledo]

Try telling people who lost their homes because of black Wednesday are beneficiaries......

 

Black wednesday did indeed effect a great many people adversely, can't argue with you about that.

 

But there are many people who have benefited as a result of the financial innovation which i was talking about.

 

Not least you, with the 0% finance for your new motor or your soon-to-mature bond.

Although ofcourse your not a beneficiary, merely a complainer.

[CHR1S]

Take your pick.....[ from my garden ]

 

2009 in the garden - a set on Flickr

 

Your Flickr Avatar makes you look like Ben Elton btw...

[mattx]

Your Flickr Avatar makes you look like Ben Elton btw...

 

Your not the first person to say that......

[mattx]

Black wednesday did indeed effect a great many people adversely, can't argue with you about that.

 

But there are many people who have benefited as a result of the financial innovation which i was talking about.

 

Not least you, with the 0% finance for your new motor or your soon-to-mature bond.

Although ofcourse your not a beneficiary, merely a complainer.

 

I've just been extra careful with money & if there are elements in which you can gain from situations, only a fool would turn it down. There are however people in this country who are not as lucky.

As for complaining - love it. Should be an Olympic sport.

Edited March 10, 2010 by mattx