So the moral of the story is...

This seems a fair assessment. Big Sis was in banking at the time of
BCCI, and she said everyone reckoned it was dodgy simply because the
other banks had done the maths and realised the figures didn't add up.

 

I know. And no fucking surprise there, seeing as they use anti-T
legislation for bloody parking fines these days.

 

It isn't Anti Terrorism Legislation it is just British law, regardless of
the pretext on which it is enacted, and it can be used in any situation
unless stipulated otherwise.

 

Some people's parking is pretty terrifying.

 

Trust you to introduce a red herr.... Damn, you didn't.

 

Think of the children !

What is a bank ?

"Banks primarily provide financial services to customers while enriching
investors".

Nothing in there about guaranteeing a safe return on savings or even
your savings returned.

Banks are private companies, *they* aren't guaranteeing the first n
thousand deposited are they ? I am.

 

Well, er, yeah, they are actually.

http://www.fscs.org.uk/industry/funding/

I really would recommend putting the pitchfork and flaming torch down
and doing some background reading instead.

 

Yeah, I don't know why I'm getting so worked up, it's not like I've got
any savings to worry about anyway . At least now I can rest assured
that all the charges I'm paying for my reckless financial behaviour [1]
is going to look after the little people who are carefully putting
something aside for a rainy day .

[1] I should know better, I've got a copy of George Clasons "The Richest
Man in Babylon" carefully placed at the side of my bed to remind me to
live within my means.

 

NR was demutualised in 1997. It was trading as a bank. If it had remained
as a BS then it wouldn't have been able to get so entwined with the dodgy
dealings of Lehmans.

The BS that went bust was Dunfermiline BS, which was quickly absorbed by
Nationwide to save face.

 

You've met my sister?

 

I don't think so, how would I know?

 

D'oh, of course. I'm probably not the only old gimmer that still thought
of them as a building society, including some of their customers.
Trading as a bank, but on their reputation.

I knew there was one that went tits up.


--
+-------------------------------------------------------------------+
| Pete Fisher at Home: |
| Voxan Roadster Yamaha WR250Z/Supermoto "Old Gimmer's Hillclimber" |
| Gilera GFR * 2 Moto Morini 2C/375 Morini 350 "Forgotten Error" |
+-------------------------------------------------------------------+

 

A nasty infection?