DIY is not for everyone

[Tim Streater]

Which, AIUI, is what actually happens.

[Huge]

Well, kinda. There are a lot of people in effectively bankrupt banks who still appear to have jobs, bonuses and pensions, when the shareholders should be after them for all three.

[Tim Streater]

Ah yes - I was assuming you were considering depositors vs. shareholders.

[djc]

"too clever by half"; the trouble with employing people with physics degrees, economics degrees, and such like is that they will be very interested in doing clever things with the maths but have a poor grasp of 'real world' economics. "The market" becomes an academic abstraction, too complex to be understood by anyone except the original author, but it looks clever and sophisticated and the only bit that concerns the politicians and the managers is that it supports whatever scheme they currently believe in.

[hugh]

You don't understand much about corporate governance do you. Nor perhaps do you realise that the largest owners of shares are the pension funds. Why are you so pleased that people's pensions have suffered.

Why should they be protected by the taxes of people who maybe cannot afford savings?

[Huge]

I wouldn't go using words you don't even know the meanings of, were I you.

Which fortunately I'm not.

[Mark]

OTOH a lot of money gets spent, particularly on care now that people live a lot longer. Therefore it does not get passed down. My wife & family got nothing when her grandparents died (and they were supposed to).

[hugh]

In message , Mark writes

No because the loans were made to very secure organisations such as other banks and sovereign states. Ah!

[hugh]

Indeed your not and I am very pleased about it.

[Huge]

For one thing, I can spell.

[hugh]

So can I, but I can't type very well.

[hugh]

Most pointless comment so far in this thread.

[Steve Firth]

Yeah, I'm so glad that when Fred the Shred sent me my "personal" invitation to invest my hard-earned in RBS shares that I told him^W the anonymous marketing department masquerading as him to shove it. Even back then it was clear that Fred's "strategy" was to borrow loads of cash and buy up things in the hope that increasing turnover could stay ahead of borrowing. I'd seen a CEO come a cropper on that sort of strategy in 1992 and didn't want any part of it.

[djc]

Put it did get 'passed down'. It was spent before they died, therefore it was paid to someone for goods or services and was distributed into the economy. It just that it wasn't passed down in a lump sum to close relatives who were hoping for something.

My grandmother inherited a house from her aunt. But it was leasehold, the lease expired in the 1940s, and my grandparents became council tennants in the same property. My parents started their married life there, and my infant years. My parents bought a house on a mortgage, which was finally paid off when my father died at the age of 60. I inherited enough to pay the deposit on a flat, where I still live. I paid off the mortgage last year. If I live longer than my parents or grandparents I will probably have nothing to leave future generations of my family.

[Neil Williams]

And a chimney is not designed to take a sideways shock load, so might itself fail, perhaps?

Neil

[Mark]

It would not be passed down to those for whom it was destined then.

I've still got a long time before I pay off my mortgage.

[Tim Streater]

So who's demanding larger interest payments then?

Ah, so if people borrow from you and you ask for it back, it's OK if the person just gives you the finger? Interesting. Errrm, could you loan me £100 'til next payday?

[djc]

Destined! Nothing is certain in this world but death and taxes. What we would like to do with what we have (and would like to have) and what actually happens are not the same thing.

[Mark]

The people who were the deceased beneficiaries.

[Huge]

Because they have been misled by the State which sends the implicit message that if you pay your taxes, they will look after you. In my world this is called a "lie".