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Loving the Irony Of Banking Woes

By The Equalizer - Tue 26th Jun 2012

With all the doom and apparent impending gloom surrounding the global financial sector, it seems many have missed an opportunity to gloat over the woes of banks and the sheer brilliance of credit downgrades they are being hit with.

Let’s face, how many time have you been to a bank for a loan, mortgage, overdraft or simply a brief extension to your limits to cover a short-term blip and been told "The computer says no!"

We've all been there at some point or other. For me it was just trying to get £50 for 3-days, many years ago whilst at university. I needed to travel and collect some money which would have paid back the £50 several hundred times over! I just needed the £50 to travel to collect it...

These banking militants sit and press a few buttons on a clever little computer and up comes some deep and interesting secretive information about you... Information we are not allowed to see unless we are in the banking club or PAY to receive! All they tell us is that there is something about our credit rating and the cheek of it is that because they have turned you down, this too goes on your credit file which is another black mark against you!

I mean come on, you are not going to give me the money, your choice, I disagree, but there we go... That should be the end of it right, but no... They get to further mess your day up by marking you down further, just for asking in the first place! The banks have it all their own way!

Anyway I digress, but the point is that with all the banking problems at the moment, many have over looked an important issue which has arisen as a result... The credit worthiness of banks.

Banks themselves need credit to be able to cover the costs of their investments, create cash flow and ultimately pay the bills.

But, it hit me last night whilst thinking about something to write and realised that the banks are feeling the pain they inflict on so many of their customers daily.

Since all the major credit ratings agencies have downgraded the banks on a global scale, the banks themselves are hearing all too often - "The computer says no!"

The very systems created by the financial institutions to help them do business has turned around and completely bitten them on proverbial "Backside" !!!

How ironic! How beautiful! How sweet justice has an ironic way of coming around! I think they call it - Karma!!

Comment on this Blog

#Adrian - So true! I can't help but think that the financial sector is in control of Governments the world over, but thats just me being cynical! I'd be interested to find out the contributions banks make to political parties and politicians, especially if that bank is owned by the tax payer!
The Equalizer - Wed, 27th Jun 2012
Whatever market conditions - whether good or bad - it is always the man in the street that will end up being out of pocket. That is the nature of the banking industry the world over !
Simon Carter - Wed, 27th Jun 2012
Great post Dan, it seems to me that the banking sector never "lose" money- it just gets transferred somewhere else and works it´s way back to the very people who supposedly "lost" it in the first place! The best way to keep the wankers-sorry bankers in check is for them to lose their wealth- every cock up they make--the state takes a house,yacht,car etc. and recapitalise the banks with the proceeds(the bank really belong to the people for without them a bank is a bank in name only) and watch ´em all jump into line-boom and bust sorted forever! And we get to go to some cool clubs in mansions that were once bankers homes! :)
Adrian Harvey - Tue, 26th Jun 2012

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