What would happen if Goverment didnt Bail out these Banks? - HotUKDeals
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What would happen if Goverment didnt Bail out these Banks?

wazb Avatar
8y, 2m agoPosted 8 years, 2 months ago
i just heard darling say if B&B wasnt bailed out it would have a systamatic affect on the economy, but what does he mean what are the implications if these banks wernt bailed out?
wazb Avatar
8y, 2m agoPosted 8 years, 2 months ago
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#1
Peoples life savings will dissapear, therefore no one will have any money to spend, so business's will lose money and go bust, shops will start closing down... everyone is poor... ooo and the bank itself won't be able to invest into new business's which will mean even more business's will go bust.
#2
Does he mean the bank bosses wont get paid and wont continue to donate money to the political parties?
#3
sounds like scary times ahead :thinking:
banned#4
Likewise don't get why a bank should be bailed out for millions/billions but a small business with a few hundred thousand debt should be allowed to go under. They should just be left to fail.
banned#5
Peoples savings would be OK up to a certain amount (£35k?). If B&B was allowed to fail thousands of customers would be hit, staff would loose their jobs and the financial markets would take a battering. The government are nationalising them to help the customers, staff and to try and prevent a financial melt down - good job if you ask me, the problems caused by them going bust dont bear thinking about
#6
a bottle of milk will cost you 30,000 x what it did yesterday.
#7
[SIZE="7"][COLOR="Red"]We'll all be killed[/COLOR][/SIZE]
#8
t0mm;3078902
a bottle of milk will cost you 30,000 x what it did yesterday.


Good job i invested in old bertha the dairy cow
#9
Titchimp;3078943
Good job i invested in old bertha the dairy cow

It probably wouldnt do that, I just like to cause a panic.
banned#10
Titchimp
Good job i invested in old bertha the dairy cow


I will be watching as many Ray Mears DVD's as possible, and attempt to survive in the wild!
#11
hankmarvin4;3079024
I will be watching as many Ray Mears DVD's as possible, and attempt to survive in the wild!


Ive been practicing my crouch into shot.
#12
oh gee, back to hunter gathering, whos good at making spears?
#13
There is a cycle. The government not bailing out will cause the banks to reduce lending. The people will then have less to spend and thus housing prices fall. It'll eventually lead to home owners defaulting and back to the bank losing more money.
banned#14
loupomm
oh gee, back to hunter gathering, whos good at making spears?


Ray Mears is!
#15
hankmarvin4;3079247
Ray Mears is!


Shares in him must be going through the roof
#16
so im guessing that the time of easy mortgages is over? the 100% + mortgages will be no more?
#17
Survival
101 recipes to do with 1 egg
tomorrow 101 recipes to do with the humble potato
banned#18
wazb
so im guessing that the time of easy mortgages is over? the 100% + mortgages will be no more?



think they already are no more
banned#19
Here's a good explanation why the bail out's won't help, by a BBC correspondent;
http://news.bbc.co.uk/1/hi/business/7642664.stm

Strangely I'm on a 2 year variable, I paid 100% if house prices have gone down 11% in a year when I go to re-mortgage next year I won't be able to because it will be another 100% mortgage. So my mortgage rate will go up to plus 7% APR. Fortunately we have plenty of savings to carry us through and we have both had pay rises since taking out the mortgage, I imagine quite a few other people though won't be so lucky.

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