Fromformatting linkBarclays has produced a profit of GPB 7.14 Billion. I was wondering if this money came money which was lent to customers by Barclays or other banks in the first place.
e.g. the government borrows money to pay for workers, and the workers take out a mortgage. It seems to me that the banks win twice 1- from the government, 2- from the personal banking customer. It is like having your cakes appear by magic.
Yes, this is why the smug bastards in the city walk around with cheshire cat grins. If the business your in is to make money, you can't lose. You either win, win big, win very big, or just make stupid amounts of money.
They are laughing all the way to the bank so to speak.
They said it came from fund management, so maybe all the profit comes from those people silly enough to invest in barclays own lacklustre/ overpriced investment funds...?
The biggest shareholders by far in Barclays are the pension funds and since Gordon the Moron chose to decimate these funds with his stealth taxes I would suggest most of that profit is going to a very needy and worthy cause and I don't mean Gordon.
I'm interested in you "needy and worthy" cause recipients for $7.1 Billion.
A policy which came into being at a time when funds were in surplus and companies were taking pension holidays left, right, and centre. While Brown's policy might have been misguided in retrospect, it was only a small part of the eventual problem if you ask me.
Which you didn't, but I get a bit tired of stealth tax claims being wielded so clumsily.
Andrew McP
And people chose to forget that it was the second half of a policy started by the tories to get rit of ACT ... And Corporation Tax was reduced at the same time from, I think, 33% to 29%. Interesting how many folk have selective memory syndrome. Ray
Same here.
At current yields the loss of the tax credit was 0.28%pa
Daytona
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