Wednesday, September 17, 2008

A Marxist/Walt Disney warning against the inevitability of the current financial crisis, and how to maintain your inertia

I had a worrying call this morning, wondering if we should withdraw our meagre savings (well, the kids' meagre savings. I don't have any. Spent all that cash on camper vans) from the disgracefully-named HBOS. I was a Bank of Scotland customer. To hell with Halifax, I say. But I could never be bothered shifting everything over to another bank.

And HBOS is apparently in meltdown, courtesy of hedge-fund speculators and other such bastards. Unless (as the hot gossip is suggesting) Lloyds TSB take it over. Capitalism, doncha love it? However, it appears that the Government will protect savers through the Financial Services Compensation Scheme (Acronym warning - FSCS) should any bank go down. Up to £35,000 per person per institution is guaranteed, which is laughably more than we have ever had to worry about.

Anyway, we were all warned. Marx, George Galloway, and Dick Van Dyke. And if you don't believe me, watch this video. I've never felt comfortable in banks, and this is why. My favourite piece of financial advice so far? 'Maintain your inertia.' I'll try...

1 comment:

bigrab said...

Is it just me or does this sound like a Tom Waits number at points?