Gobsmacked

[latviaman]

watching Sky yesterday, I was amazed at those in charge of our money, yes still have cash in UK out of the 4 miscreants they all admitted none had a banking qualification. I would have tought this a necessity. It's like saying a pilot has no licence but has read about it and can talk a good talk!!! Only in UK

[Scotty]

..... or football fans who think they can run a team, or a player is great, because Football Manager said so.

[absent friend]

I would assume that they must be the only banking staff with no banking qualifications(excluding the non bankers), yet they were dictating the push for expansion. I do accept that qualifications do not make you a good business man but in that field surely banking knowledge, in depth, is required.

Gob smacked 1 - No qualifications

Gob smacked 2 - I now learn that our banks ( not the Bank of Malta etc) are practicing tax avoidance, illegally, the case is in court today.(Source, yesterdays Guardian) This is the same Banks enjoying being bailed out by...........TAX MONEY!!

Work it out, they are found guilty and are fined a massive amount, paid for by.....TAX MONEY!!

Gob smacked 3 - You go for a mortgage, you are underwritten (passport, utility bill, salary slips, P60, bank statements, proof of rental payments up to date, source of deposit proof, survey etc) you then, I hope, get your ?150,000 on your ?200,000 purchase. The ?150,000 you are given has come from the Money Market, has never been examined to establish that it is OK and is now found, by the bank, to be worth only ?10,000 to ?15,000.

Perhaps they should have used the office junior to give advice, he would have suggested that funds going out with all the security is less concerning than the source of the money coming in. Why? Because his father was a greengrocer and the most important thing to him was the condition of the tatties in the bag from the wholesaler, if rotten or part rotten and paid for, father made a big loss. If they were OK he made a profit, housewives...wholesaler...greengrocer.. and ...taxman....all happy. Of course, he had some housewives that did not settle up their monthly account and this was written off against his tax bill but this was accommodated for within the price of his tatties.

Now the Banks on the other hand were more worried about their monthly bill being unpaid despite holding the client's house as security........and who checked their tatties from the wholesaler????

How many banking qualifications do you need to have common sense??