As we all know, the FSA (a government body) is at present taking the banks to court in relation to bank charges, however the government is taking over the banks!

Is there not a conflict of interest here?

The FSA is not doing this. The OFT are...

It is an interesting point though...

My opoligies yes the OFT.

One benefit mind is they can now access how charges are truly set Not what banks want them to see,

I also wonder how this affects the opinion of legislation on taking charges from those on benefits. How will the Gov't not interpret this as it is now the very same Brown who giveth & Brown who taketh away..

am sure the banks will run more or less how they were run prior the gov intervention... after all they must try to become profitable.

It should be made a condition of the tax payers involvement, (and our funding from private individuals and the private sector), that we as tax payers have representation on the board of each bank. Bonuses for the greedy bankers should be scrapped immediately and each bank closely monitored to ensure that they do not misuse the tranche of funding now allocated to these UK banks. They should be accountable to us, as British tax payers, for how the funds are used. We are, in effect bailing them out for gross misconduct - they should be in jail. It was basic greed that led to their downfall.

well you can point the finger at the banks, however what about the gov? and those who over commit themselves?

but yes bonus of 2mil is by far over the top..

well you can point the finger at the banks, however what about the gov? and those who over commit themselves?

 

but yes bonus of 2mil is by far over the top..

Yes, your absolutely right! The Government and the Civil Service, including the Scottish Executive, should be trimmed down substantially so we, the tax payer, get value for money. At the moment it's blank cheque syndrome, we certainly don't get what we pay for, nor for that matter do we get value for money. If that lot were in the private sector, actually fee earning to sustain their businesses they'd be a lot of Government departments going bust.

Over commitment by an individual is another area whereby banks should have monitored an individuals capacity and ability to repay agreed loans/overdrafts. Irresponsible lending by banks, (so lending targets were met), were totally out of order. How can you teach people to budget when money (credit) is thrown at individuals without teaching them how to budget within their means. Banks certainly do have a lot to answer for they should bring back the well trained, prudent Bank Manager to give us peace of mind about our savings.

I think this is the first time in my life I'm glad I am broke :)

According to this more than enough warnings were raised

BBC NEWS | Politics | UK 'ignored Iceland bank warning'

The government ignored them and the FSA did................absolutely nothing!

The FSA did not carry out enough checks on NR and if it had maybe it would of realised ALL the banks were doing the same!

The government have got carried away with the "making money from nothing" carry on as well as the finance institutions and had become totally blinkered.

THEY have all been responsible for what is happening now and expect US to pick up the tab.

GREED has become the ruler of this globalization at a huge cost to our communities.

We need to go back to basics. So long as you have food and shelter and the love of those nearest to you what else do you need?

Yes, you too are absolutely right in your assessment of the situation but it is difficult to reverse the threads of greed which has dominated our society over the past years. I basically have lost all credibility in the banking sector over the past few years and the banks need to recover some degree of honesty and transparency in their dealings before they can be trusted again. As you say, they need to get back to basics whereby you can trust your bank to look after you. From recollection I remember the Bank of Scotland slogan used to be "A Friend for Life". Not a chance they've let a hang of a lot of people down.

hey man, I'm thing about your word. thanks for your sharing.