HSBC and the virtue of profit.

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14 Responses

  1. ublix says:

    interezting artcle. BUT i need to ask why you have ‘ENGLAND’ as one of the tags at the bottom? YOU live in Radnorshire, Wales am I not right? FEEDBACK TO ME please.

  2. Ian Marchant says:

    Good point well made. Wales tag going up now…

  3. ublix says:

    Yes, this is progress unt neccarium. But WHY tag england when of zip mention in das article? REMOVE? FEEDBACK TO ME

  4. Ian Marchant says:

    There we are…. job done. Thank you for your grand-motherly kindness.

  5. Tom says:

    It seems odd that it is only the ‘entirely unqualified bloke-in-the-pub ‘ and blokette) who seems to be making any sense. Usually they are a fount of right and left wing nonsense, tempered by an expertise on football.
    It seems blindingly obvious that you cannot have a world economy based on perpetual growth linked to an increasing population and money borrowed against future economic growth.
    Margaret Thatcher moved the economy from manufacturing to services and this worked well for the middle and upper classes (What defines middle class these days? I mean those earning above the national average wage.) and
    badly for the poor, widening the rich/poor gap. So, we need some new economic thinking.
    So, can we expect your next book to be A New Treatise on Money? Someone needs to write it, and soon.
    Two more things. You may well be right and we may see a growth in tribalism. But having spent a year in Java I am not entirely happy with the thought. Tribalism often has a rigid class structure and can be very oppressive towards those outside the tribe.
    Finally, we didn’t want Prestigne anyway, or we would have given it a sensible name ages ago.

  6. Graham says:

    Ho, Ian. So you’re losing banks too? After March there will only be an HSBC left in N’haven, and I doubt that they’ll stay long, seeing as they will be very lonely in a High Street full of residential conversions. Very handy for those of us with cash only businesses, eh?

    Tribalism’s on the rise, economists are blind to the abyss that’s just around the next corner, education’s failing, money’s getting tight, the weather’s not too bad but it could always be better, yeah, life is good!

    Happy Christmas to you and yours, dear boy.

  7. Dan says:

    Don’t they (economists, politicians, bankers eve) like growth because it ‘allows’ (is it helps?) the poor to get better off without re-distribution? And they never want to talk about re-distribution.

    I’m not sure about this but recall someone saying it to me once, poss in a pub, when I was in 6th form etc….

  8. rachel says:

    Mr marchnat
    do you know exactly when HSBC in Presteigne is closing and anything about the meeting with presteigne chamber of commerce? i was thinking of OCCUPY HSBC for Broad Sheep’s green.
    Rxx

  9. Ian Marchant says:

    Great idea, Ms Francse! Look forward to it…

  10. Chas Ambler says:

    I think most of us have known this all our lives but the same question remains – what the **** do we do about it? Just revealed – 2 executives at Barclays got larger bonuses (boni?) than Diamond – over 6 million. I can’t see a way of stopping them. Given the choice between caring what people say about them and 6 million they make a rational choice.

  11. Ian Marchant says:

    Yep. what to do is still the problem. Don’t know. We continue to do the best we can in a broken world, I guess.

  12. andy stocks says:

    here’s what we can do: do all your trade in cash. close your bank account and put your money into the nearest credit union. if we all paid off our credit cards, they’d go bankrupt – they need that interest like a junkie needs a fix. if we collectively refused to pay off loans on over-valued assets, as in iceland, then they’d soon crash….

  13. Ian Marchant says:

    You could be onto something there, Mr S. Do you remember that little shiver of fear that went through the City last year when Cameron suggested we all pay back our debts? Economists came out of the woodwork to point out that this would be the ruination of the economy, ie, their mates in the banks. Cameron backed off by lunchtime.

  14. Mike says:

    What is needed is our own bank in which we are the shareholders who share in any profits at the end of the year. As it would be our bank the managers would only be able to earn 10 times what the lowest paid earn and there would be bonuses paid – but they would be in the form of dividends which everyone who banks there would get.

    But the slimy set of corrupt creeps who call themselves politicians would rather drown their own families in cesspools rather than allow a democratic system based on need and not greed to start. Gone would be their extra’s, their directorships etc.

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