Posts filed under ‘Banks’

News and Views

I do this for a reason. I want you to donate to a children’s charity and write to me. Please see the About Lesley page or read the instructions at the end of this post…..

I have been sweeping through some of the news stories from the last few days. ‘Highlights’ include:-

  • David Cameron pondering applying regional rates to benefits. He wants to understand if it makes sense to map the differences in pay levels in the regions to the application of state benefits. A dangerous road in my opinion. Are there many differences in the prices of food, clothes and energy services within the regions? I accept that housing costs may vary by region and accept research on this may make sense but have a real concern that this will accentuate disparity between regions. Linked to this story, Mr. Cameron is concerned about pulling under-25s into a life of dependency and may also think about cutting housing benefit for the under 25s. Calling this concern rankles; I see this as cost-cutting and he should be open about it. I do loathe this habit that all politicians (regardless of party) have of cloaking their policies under the umbrella of caring. The Conservatives have talked about removing the ‘nanny state’ but when it suits they use the nanny language. Pshaw!
  • The aid watchdog Data have reported the European debt crisis has impacted government development aid to poor countries. Spain and Greece have made the biggest cuts and that is understandable given their current circumstances. However, overall levels have fallen by approx. 1.5%. None of this is a real surprise but shows again that the austerity levels are impacting across the third world as well as the first world.
  • Moody have been downgrading their ratings for some of the world’s largest banks. The UK banks affected were RBS, Barclay’s and  HSBC whilst in the US Bank of America and Citigroup have been impacted. What was interesting about the comments on this story was that there would be little impact to the banks. Historically the ratings from Moody’s and other rating agencies was a barometer for how much borrowing a bank could leverage from other banks. Apparently most banks now make up their own minds and don’t use these ratings so much. Is it just me or is that not a little scary? I am no economist but isn’t the behaviour of some of the banks what caused at least some of the mess we are dealing with now?
I close, as always, with this:-
  • Please donate to a valid children’s charity of your choice.
  • Visit this blog and comment about your donation. Please also tell me what you wanted to be when you were 8. I still want to collect those tales and hope that some child will read about your words and deeds and want to do the same when they are older.

I will:-

  • Add your donation to the Totals page on this blog, totals are updated weekly.
  • I will also write some words about the current donations and the charity
  • Store all comments so that everyone can read them.

Thank you for reading.

Lesley

June 25, 2012 at 2:04 pm Leave a comment


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