Lloyds bank - thank you for the laugh!

similarly, I have a company deposit account with Alliance and Leicester now owned by Santander. Santander have recently bought Abbey. So I now get a letter from Abbey, who have access to my address through Santandar, saying they can do more with my money............yes right.

When it was clear what was going to happen, I quickly took out cash ISA bonds for me and wife to the max. at 5.5%. The week after they started the big slide. If I, a financial numpty, could see what was going to happen, why couldn't the banks with their high flying mega bonus experts?

BobC

Cheeky so and sos.

In message , Confused of Bristol writes

Heh Heh! I have a similar account with Nationwide also maturing in April, and I haven't received an offer yet. I wish I'd trebled the amount though... As for the latest drop in the bank rate....

I got the same letter! Made me even more determined to transfer out when it matures. Is there a sensible & ethical financial institution out there? Taleb, the black swan guy, doesn't think so. He is saying all the banks should be nationalised and the bankers thrown out of their jobs. Sounds about right. On that score, I guess we should be plumping for National Savings. But, in a sense, that is backing the government, and their record is little better than the banker's--after all, they are supposed to regulate them! Then again, at least we can vote the politicians out and any money invested in National Savings that finds its way into big bonuses for bankers will get people asking a lot of questions! So on a best of a bad lot argument, I think National Savings looks best. Of course the interest rates are unlikely to be the best, but safety is maximised, and I think it's worth losing