The James Kilgour Blog » Credit Crunch

Yum, Credit Crunch

James Kilgour — Sun, 12 Oct 2008 14:07:05 +0000

This should be released as a single. It’s AMAZING! That Credit Crunch Stuff looks yum!

Always Giving You Extra: The Era of the Super Bank

James Kilgour — Sat, 20 Sep 2008 08:48:37 +0000

Halifax Bank of Scotland is one of the UK’s big four financial institutions, and whether separate or together, have been part of the highstreet for years. In fact, the bank holds 20% of all mortgages in the UK, and has millions of savers.

The events of the current economic climate though have caused unsteadiness, with the HBOS share price falling by more than three quarters.

But is a Super Bank a good idea for the UK? The new bank would have just under 40 million customers, with a 28% hold of the Mortgage market. (Under UK law, no financial institution is permitted to hold more than 25%.) The Bank would also have nearly 3000 branches, making it unmissable on the highstreet.

The bank would offer unrivaled security, and would prevent collapse of HBOS, which if this were to happen could be devastating for the UK economy.

The bank would also have unrivaled financial powers, and would gain a controlling stake in the UK economy. However, with plentiful smaller alternatives, I doubt it would really have an affect on the consumer.

The Credit Crunch. Not our fault.

James Kilgour — Sun, 06 Jul 2008 09:13:07 +0000

As fuel and food prices soar, we hear more about the “Credit Crunch”, and how we are heading for a recession. But is it our fault? Have the days of spending on credit caused this?

Yes and No. One the one hand, we borrowed what was offered to us, even if it was obvious we couldn’t pay it back, and that was not right. But who was in control? The banks. Their greed in lending irresponsibly has lead to huge debts and the fall in global economy. But who are the ones feeling the burden? Us. Were the ones struggling to pay the bills, as the cost of living has shot up. The banks should take responsible for their actions and be accountable.