RBS wanted Ginetta boss's mortgage back!
Discussion
Eric Mc said:
Thanks for reminding us.
That's not the issue in many of these cases at all.
This is a story of banks changing the criteria by which they originally made a loan and then foreclosing on the business and selling the repossessed properties through related parties.
If that is the case, it is curious that there are not lots of legal actions against the banks which result in damages for the injured borrowers, don't you think?That's not the issue in many of these cases at all.
This is a story of banks changing the criteria by which they originally made a loan and then foreclosing on the business and selling the repossessed properties through related parties.
Especially in a world of "no win, no fee".
valiant said:
Maybe because they are all as s
t as each other???
There are always different degrees of st as each other???tness though. And I think much depends on expectations.I've had the same current account provider for over 20yrs. They don't set the world on fire, but I have a paid for account with benefits that work for me. It causes next to no pain, especially now faster payments is taking hold. The counter staff on the very rare occasions I need them, are fine. Only hassle is the daily transfers limit at times, but that's understandable.
The same bank had my business and mortgage accounts too. They took the piss. Both are elsewhere and again pain free (no fees on my business account; mortgage provider who simply offered the best deal out there come renewal time). But there was no point chucking the baby out with the bathwater.
If both those providers, or my current account provider, change their tunes I'll simply move to one that's less s
t.loafer123 said:
If that is the case, it is curious that there are not lots of legal actions against the banks which result in damages for the injured borrowers, don't you think?
Especially in a world of "no win, no fee".
Simple; because in many instances - and if you saw the SME owners in Panorama and had any shred of empathy or social skills would understand this - the banks systematically and deliberately pulverise their customers, financially and mentally. there were emails where the bank were briefing legal representatives to go in hard, all guns blazing.Especially in a world of "no win, no fee".
I watched, from the sidelines, as this happened to SMEs all around me; customers, suppliers, friends.
I even had a regional manager of one of the big banks talk to me about it, having resigned after seeing the destruction they were causing. I had a degree of sympathy for him and the bank managers he oversaw, as they were bullied into carrying out orders, wrecking businesses that, in many cases, they'd known for years, decades even, sometimes with good (covenant) reason, but often without. They were, in many cases, reduced almost to the same state as their customers.
It has knocked a massive, un-pluggable hole in the UK's SME economy. With the next generation struggling to buy homes, let alone release equity for enterprise, I do worry about the ability of the economy to repair adequately.
Motörhead Jus 'cos you got the power
You might be a financial wizard,
With a sack of loot,
All I see is a slimy lizard,
With an expensive suit,
Go on and run your corporation,
Go and kiss some ass,
You might buy half of the nation,
But you can't buy class
You b
ds think it's funny,Lyin' and thieving all your life,
Think all there is is money,
Got your future strapped up tight,
Just 'Cos You Got The Power,
That don't mean you got the right
You can take my fingers babe,
You can take my eyes,
You can take my past and future,
It won't make you wise,
You can have me thrown in jail,
You can steal my booze,
You can even read my mail,
Step on my blue suede shoes,
You b
ds must be clever,Got it mapped out in black and white,
But don't forget you'll never,
Get a dog to walk upright,
Just 'Cos You Got The Power,
That don't mean you got the right
Go on out make another deal,
Feed your big fat face,
Go on out and cop a feel,
Get on somebody's case,
You surely would be satisfied,
If you could have it all,
But time ain't on your side,
You're going to the wall
You think that life's all dollars,
Greed and lust and spite,
But I wasn't born to follow,
Like to get my sleep at night,
Just 'Cos You Got The Power,
That don't mean you got the right
loafer123 said:
If that is the case, it is curious that there are not lots of legal actions against the banks which result in damages for the injured borrowers, don't you think?
Especially in a world of "no win, no fee".
See some of the posts above. The banks are quite willing to both lie in court (under oath - a criminal offence in itself) and before parliamentary committees. So - court cases have been attempted or are ongoing.Especially in a world of "no win, no fee".
Eric Mc said:
loafer123 said:
If that is the case, it is curious that there are not lots of legal actions against the banks which result in damages for the injured borrowers, don't you think?
Especially in a world of "no win, no fee".
See some of the posts above. The banks are quite willing to both lie in court (under oath - a criminal offence in itself) and before parliamentary committees. So - court cases have been attempted or are ongoing.Especially in a world of "no win, no fee".
I work in a bank and I nor any one I know would lie, especially to a court or Parliament.
If you did and where found out it would be immediate dismissal, and never to work in a professional career again.
Defaulting on your mortgage, making your wife and children homeless is a great spur to honesty.
Mrr T said:
A bold statement unsupported by facts.
Except this apology from a bank which basically admitted to it: http://www.bbc.co.uk/news/business-30172326Mrr T said:
I work in a bank and I nor any one I know would lie, especially to a court or Parliament.
With the greatest of respect, perhaps you are a minion, mixing with minions - but it seems the elite are seldom concerned about telling untruths.No one is accusing bank tellers and cashiers of pocketing wads of cash. No one is saying the rank and file have any say in the direction these businesses take, but playing "nothing to see here" is not going to help.
Exactly.
The trouble is the ethos at the top.
Those who work at the coalface are generally fine - although many have been put under intolerable pressure to flog products and services that were inappropriate for those to whom they were sold - and, as has been pointed out by the bank worker above - fear of losing one's own job and home can dictate what you do and how you behave.
The trouble is the ethos at the top.
Those who work at the coalface are generally fine - although many have been put under intolerable pressure to flog products and services that were inappropriate for those to whom they were sold - and, as has been pointed out by the bank worker above - fear of losing one's own job and home can dictate what you do and how you behave.
Digga said:
ith the greatest of respect, perhaps you are a minion, mixing with minions - but it seems the elite are seldom concerned about telling untruths.
[scarcasm]But.... he is a Banker!!!.
The newspapers tell us its ALL the Bankers fault.
That obviously includes everyone who works in a bank (which includes cleaners and post room people) as that is how the English Language work (Farmers, Bakers etc).
The papers tell me that I should blame Bankers. So I WANT to blame bankers and NOT the innocent people who had NO control or ZERO knowledge of 12 rogue FX dealers.
[/scarcasm]
So.... what is the correct definition of a Farmer then?
Is it just the guy in charge, or are Farm workers 'Farmers' as well?
As I mentioned in an earlier post, I have a huge degree of sympathy for those working at branch and regional level.
At some point early in the millennium bank and regional managers at most of the large banks had the rug pulled out from under them. Powers of discretion and the ability to make local and regional lending decisions were swapped for tick-box, centralised, algo-banking, as the collateralisation mania sweep all before it. It was at this point that a lot of the old, steady, well-known and knowledgeable hands retired/were pushed out.
Banks then set about a number of idiotic, top-down schemes; scrapping branches, unintelligable and often unsecure offshore call centres, scrapping in branch tellers, forcing staff to re-train as faux financial advisers and setting targets to sell products to customers. The PPI scandal being just one example.
Come the crunch and the same staff, as I already described, were forced to act henchman to deliver the plans of the top brass, massacring clients private and commercial in a scramble to ditch liabilities and hoover up capital.
None of this is directly the fault of anyone working in a bank.
At some point early in the millennium bank and regional managers at most of the large banks had the rug pulled out from under them. Powers of discretion and the ability to make local and regional lending decisions were swapped for tick-box, centralised, algo-banking, as the collateralisation mania sweep all before it. It was at this point that a lot of the old, steady, well-known and knowledgeable hands retired/were pushed out.
Banks then set about a number of idiotic, top-down schemes; scrapping branches, unintelligable and often unsecure offshore call centres, scrapping in branch tellers, forcing staff to re-train as faux financial advisers and setting targets to sell products to customers. The PPI scandal being just one example.
Come the crunch and the same staff, as I already described, were forced to act henchman to deliver the plans of the top brass, massacring clients private and commercial in a scramble to ditch liabilities and hoover up capital.
None of this is directly the fault of anyone working in a bank.
is anyone surprised at this. I'm only surprised Tomlinson had a mortgage
Back in the Fred Goodwin days RBS hid Sir Freds private Jet in France under the umbrella of an aviation leasing company (subsidiary). It would appear RBS has learnt nothing. I wonder when the regulators will grow a pair and strip one of them of their banking license.
Back in the Fred Goodwin days RBS hid Sir Freds private Jet in France under the umbrella of an aviation leasing company (subsidiary). It would appear RBS has learnt nothing. I wonder when the regulators will grow a pair and strip one of them of their banking license.
BGARK said:
Digga said:
None of this is directly the fault of anyone working in a bank.
Same as when something goes wrong in any large organisation, ie the NHS, politics etc. No one is ever to blame.In the NHS, to use your example, staff have been found to be neglegent. Moreover, the job - looking after patients - has not changed fundamentally.
In the case of the banks, management effected very significant changes on their organisations and put pressure on branch and regional level staff to do things, some of which they did not necessarily have the training to know were wrong (PPI).
Roo said:
burwoodman said:
is anyone surprised at this. I'm only surprised Tomlinson had a mortgage.
Why? He's a successful businessman. Why use your money when you can use someone else's.burwoodman said:
Roo said:
burwoodman said:
is anyone surprised at this. I'm only surprised Tomlinson had a mortgage.
Why? He's a successful businessman. Why use your money when you can use someone else's.Also a lot of people can be money/asset rich but cash poor.
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