80 per cent of bank lending 'went overseas'

[Skandi]

My first thought here was argh filthy foreigners. Then I read on and by the time I reached the end I was wondering if this was a not so subtle way of the British Government trying to pass the buck.




Whitehall sources said that they had discovered that some major UK lenders - including RBS, HSBC and Barclays - have had only 20 per cent of their balance sheets made up of "traditional" loans to UK households and firms.

Meanwhile, up to 80 per cent is tied up in loans to foreign nationals and companies, bond issues and other investments.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4278583/80-per-cent-of-bank-lending-went-overseas.html

[Oresai]

I am appalled at the way the Scottish Parliament, at least, has `loaned` millions during this time of recession, to third world countries in aid.
That is because I believe that unless you come from a place of strength and security, pretty soon your own ability to help anyone at all dwindles and vanishes..as it will do.
Around one hundred small business per week are going bust in the UK. I`m a small business. I`m hanging in here by the skin of my teeth. A short while ago the government made much of the fact it would be putting help in place precisely to support small businesses.
Bullshit. Pardon my French.
My bank is the RBS. I approached them for a loan to help me get through this recession. I was declined, despite having an excellent credit record.
Talking to others in the same boat, the banks are NOT helping small businesses in any way whatsoever.
And if we go under, it breaks one more link in the chain of economic security in the countries that make up the UK.
I know fine where the banks` monies are going. It isn`t into their own bloody countries.
And me? Well, I`m still here and making it, just. I stubbornly refuse to give up, despite many folks advising me to quit, go bankrupt, and go onto benefits, which I find appalling advice! I have no doubt plenty folks DO need benefits, genuinely, and hell, financially at this point in time I`d actually be better off!
But I worked damn hard to get this business going, and I won`t go under without a fight. :(
Can`t begin to tell of the stress though....:(
So, banks? They can take their money and shove it where the sun doesn`t shine. When this is all over, there`s one bank, at least, that I know will have lost many previously loyal customers.

[Treffie]

^Indeed! The Govt has poured billions to try to kick-start the economy and most of the money went into the greasy hands of the banks. But what's happened since? Nothing. It seems they're all too eager to take our money and then not reward us for it. One thing's for sure, our tax burden in the future is going to be enormous, but what will we have to show for it?

[Skandi]

Oresai, sorry If you've already put up this information, but where do you sell your stuff?

[Albion]

Why is this bad news? The less debt the Brits have the better, but of course we must ensure that finance is there when needed for British people though.

[joe blowe]

It is good to know a person who is struggling to survive in business.
I live in Canada (west) and just went through a year (2009) when I though we would go under. After being in business for over 10 years, it is sad, as you surely can appreciate.
Things now are booming here again, I don't know how long it will last given the general state of the world financial affairs.

A question: Do you do anything that can be marketed in western Canada ? Lots of money here apparently.
All the best to you. If there is anything I can help you with send me a note.