southstand1882
Mitchell Thomas
I owe you a bottle of bollinger big boy
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Barclays Bank Busted
- Thread starter Yossarian
- Start date
I owe you a bottle of bollinger big boy
unknown
Erik Edman
Because the private pension system would collapse
southstand1882
Mitchell Thomas
I doubt it
I have several pensions, none of which have ANY investments in banks
And for those pensions with a huge investment in a dodgy bank, more fool them
Any investment is a risk. Companies fail all the time.
Leeds Spur
Banned
Exactly - and even the ones we do own, (RBS and Lloyds) don't fudging lend.
southstand1882
Mitchell Thomas
I think there should be a clear difference between investment banks and retail
Put all the cowboys in the investment banks
The retail banks should be run as social enterprises
Put all the cowboys in the investment banks
The retail banks should be run as social enterprises
Leeds Spur
Banned
Pension Funds aren't banks.
They are the main shareholders of banks and all FTSE companies.
Banks don't hold stock.
Did you think that was the case?
My pension is with Royal London. Them, and the likes of Prudential, Scottish Life, Axa, Aviva etc are the people who own shares, not banks.
Leeds Spur
Banned
Agree with that.
I've just moved all of my money from Barclays to Zopa, getting 8% now on my cash rather than 2%.
fudge YOU BARCLAYS!
unknown
Erik Edman
Yes I'm talking about the people who you and I have private pensions with. They have shares in banks, should they collapse so does the Private Pensions, the domino effect.
Leeds Spur
Banned
Eh? Is it the polices fault if someone burgles your house?
Unless the FSA pay £1 million a year salaries they don't stand a chance. These banks employ Oxbridge Physics Phd's to dream up new formulas that Einstein would struggle to decipher!
southstand1882
Mitchell Thomas
No more so than any other company that might collapse
It just simply isn't true
If you have a pension yourself, check your investments
I bet you have more money in Chinese companies and cash, than you do invested in Barclays or Lloyds
Leeds Spur
Banned
No they wouldn't.
The single largest shareholder in Barclays probably holds less than 10% of the stock. Even if Barclays became worthless overnight they would be able to absorb the hit, (this is impossible anyway as Barclays as Assets of over £2 TRILLION!!!!!)
Pension funds work by having a spread risk...so any investments don't singularly risk the fund.
unknown
Erik Edman
I'm happy your confident, I really am not.
southstand1882
Mitchell Thomas
I'm willing to bet that your own pension doesn't have a single penny invested in UK banks.
If it does, you should think about taking financial advice and reviewing the performance of your fund(s)
Leeds Spur
Banned
Do you think these guys can basically do what they want because they are 'too big to fail'?
Rather than reinforce this position we should be ensuring they can fail, with OUR money secure and a firewall around their casino gambling they do in the investments arms.
And yes, I'm 100% confident that a bank going bust wouldn't risk a pension fund.
There would be a systemic risk as we have built a global system that could go to ratbrick very easily. But when you have derivitives worth 10 times the TOTAL VALUE of the gobal economy it's all funny money anyway.
Rather than reinforce this position we should be ensuring they can fail, with OUR money secure and a firewall around their casino gambling they do in the investments arms.
And yes, I'm 100% confident that a bank going bust wouldn't risk a pension fund.
There would be a systemic risk as we have built a global system that could go to ratbrick very easily. But when you have derivitives worth 10 times the TOTAL VALUE of the gobal economy it's all funny money anyway.
Leeds Spur
Banned
To be fair, most UK funds will own FTSE 100 stock in a tracker, so they WILL own UK bank stock.
Most people will have a UK fund, maybe Property and then various other funds, (european, Asian, US various vertical markets etc)
southstand1882
Mitchell Thomas
The point of trackers is that when a company no longer meets the FTSE 100 criteria, it is replaced.
It will have its ups and downs, but losing a company will make no real difference to its performance.
By their very nature, trackers will always go up (unless every single company in the world fails)
When a company does enters the index, the funds are forced to buy their shares
Example: http://www.investmentweek.co.uk/investment-week/news/2182569/overboard-hedge-fund-drops-ftse-100
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No I will always get it free. I qualify for it via my investments and properties I have registered with them in other countries, by having a premier account in another country I am automatically eligible for one in the UK.
Sod paying for a bank account, I get everything you have for free plus more.
Leeds Spur
Banned
Leeds Spur
Banned
Ok mate. Sure you do!
Do you really think I'd come on here and boast about a free bank account that I have?
Check out what you get if you don't believe me.
http://www.hsbc.co.uk/1/2/current-a...Account_FilterTool_Premier_FindOutMore_Button
Considering you say you earn well in excess of 100k a year I would have thought you'd be a prized customer of your bank and would get a similar account for free.