banks getting bailed out

[dave2222]

why must we have to pay for the banks to be bailed out,all they did for me was charge me over and over again until i sorted my finances out ON MY OWN.I think this is a disgrace does anybody agree.

[rov1200]

I agree with your sentiments. I think the taxpayer will get the worst part of the deal if only partly privatised. Why? Because when the shares come back to the market (maybe even tomorrow) the current shareholders will be protected as the share price will shoot up, the fat cat bosses will still get their huge bonuses and the taxpayer will get nothing for putting in hard earned money. In other words for their recklessness they do not not suffer one jot!

[loonytunes]

The Government has designed it so that our economy functions on a basis where the banks control everything. If people are in debt, they can be controlled better. Most have fallen for it by believing that higher house prices (note - prices not values) is a good thing when, in fact, nobody except the Government and the money men ever benefits. The only people who can feel smug right now will be those who did not believe it and have not borrowed to finance their lifestyle.

[factor-fiction]

I'm not sure what rov1200 is talking about. Which shares are coming back on the market tomorrow? In what way have taxpayers' money been used ?
And what is teh alternative- let the banking system collapse? That can't be allowed to happen because there just isn't enough money to compensate all savers if the system crashes and the whole economy would collapse.
But I agree that the banks are partly to blame and shouldn't feel that whatever mistakes they make the government will bail them out.

[rov1200]

Haven't you heard factor30 HBOS shares have shot up by over 30% and yesterday in a declining market. The shareholders thought they were doomed until this government package came along.

[Oneeyedvic]

Yes they shot up 30% yesterday to a price lower than it was 5 days ago.

Their shares are currently at 147.9p compared to 170 5 days ago.

Also, the government have preferential shares, so in fact this is a good deal for the tax payer