Right, before you all vote, take a look at the below.

Everybody by now should have realised that the situation were in (well, dire situation) is mainly due to the banks in this country. (I relaise that it is a worldwide situation but for this instance were concentrating on the uk)

They have been hiding their massing debt and books from the market so as to provide a completely different business outlook.

Ok, to me this would tantamount to "cooking the books", which the last time I heard was illegal as it comes down to fraud!

So, why aren't the banks being hauled over the coals for this? Why, because it reaches to the core of our financial system!

And what do the government do!! Give the bleeders money to cover their debts! I know, I'll give old Gordon Brown a call and say i'm under the risk of going insolvent and can he give me a cash injection to pay off my mortgage!!!!!!! I know what he'd say!

Now that they have more or less taken a stake in each bank and using tax payers money (our money) to pay for this, this makes us all shareholders in the banks, i.e part owners - albeit small parts. Soooo, does this mean now that all my bank charges are suspended until they pay the govnt back? Seeing as we now are part owners! Does it! does it! Yeah right!

What have we got out of this?! £2k each extra tax! Thank you thieving banks!

Ok, enough of my rant.

Although I see the reason and benefit about injecting £55bil! into the banking system and I totally agree with what they have done as they more or less didn't have a choice doesn't mean I have to like it!

For those of you who don't fully understand why they have done it here is the answer:-

At the moment we are in an economic downturn, meaning we are in a recession! there we are, I said it, and YES we are in recession right now, please don't say we are not because all the signs are there.

Ok, a recession could easily turn into a depression of which we are bordering, this means that there is an even steeper economic downturn and that's when we really need to worry.

A recession or depression happens when the demand for money is greater than the supply. When this happens, people stop spending their money. The factories don't need to make as many products to sell because no one is buying them, so people lose their jobs. Then they have even less money to spend. This leads to a long slowdown in business activity. This is called a depression.

A depression always starts with a recession. A recession doesn't always turn into a depression though. A recession is never as bad and usually lasts less than a year. A depression lasts much longer, sometimes many years, and money is much more scarce.

Although this is a very basic explanation I think you get the picture as this can span the entire market.

So, now, take the vote and any discussionis more than welcome.
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I feel that any bank needing tax payers money should be nationalised.This recession and the resulting misery,it's going to get a lot worse yet,is mainly down to grasping and greedy mismanagement of these institutions.I can't believe all this tax payers money is going into the system and the same c**ts have been left in charge of overseeing any recovery.
Roll on the depression
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instead of the government (us) giving them money the greedy board members should be made to pay some back out of their sky high wages and bonus payments. as punishment for all the dodgy deals they have done to make a quick kill
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Totally against it myself and i bet one of the reasons its happening is because i wouldnt mind betting that theres a lot of political figures that would get stung well and truly if they didnt so they just use the publics money to save their own sorry arses.
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Desperate times call for desperate measures. We have got to get the banking system working again,quickly, what ever it takes. We bought our first house back in 1980 when interest rates were 8%. Not many months later they hit 15%. First baby arrived and we really struggled. I managed to keep going fitting kitchens because people decided they couldnt afford to move and bought a new kitchen, bathroom, extension whatever and kept the small traders going. This time it is much worse. People cant get finance for anything and everything is starting to grind to a halt. It is compounded with the hike in fuel, transport, utilities and food costs. Council tax will also hike up or there will be a big cut in services, hence jobs, because of the Iceland fiasco.So although I despise the idae of bailing out banks, I am not sure if we have a choice. Where has all the money gone. There is an excellant book which describes how it all works. Its title is XAT.

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Its the best of the worst that has been done, we as a nation had no choice but to prop up the system/banks with cash that we have exchanged for non directorial shares in our banks, we get to make no desisions about how they are run.
Someone in America should be investigating why the credit agencies put AAA ratings on sub prime mortgage packages, thats the main reason that our banks invested so much borrowed money into these packages, our banks didnt have the money, they borrowed it and now can't pay it back or because of the AAA RATING THEY SEEN THE INVESTMENTS AS A TOTAL WINNER.
No one checked the products they were investing in because of the AAA ratings, no one went to the bottom of the ladder and checked if these homes in the states were worth what they had been Mortgaged for, or checked if the people could afford the payments once they came to the end of there teaser rates to get them to buy in the first place.

One problem i can't understand is that these sub prime homes in the states that have lost value do not add up to anywhere near what all these goverments are pumping back into the sytem, wheres the rest of the cash going to?
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In my opinion it all amounts to sheer greed. The greedy home owners bragging they made 10/20k per month and property investors. Who have been in this from the of to make easy money.

When I first bought my house it was to live in and build a family. Not to make 10k a month and price people out of the market. I remember the 80's when interest rates hit 15%. I had to take on two jobs to manage.

What we had was people buying to let second and third properties. The banks have encouraged these people to borrow to the hilt. Now it has come back to bite them on the arse.

I am not happy to have to bail out the banks, they brought it on themselves. Remember last time a government tried to prop up the market. Norman Lamont kept throwing money at the problem, was it 20-billion. And he kept his job bless him. Would I have kept mine, don't think so.
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