The Anonymous Widower

Will We Ever Get Rid of This Worthless Bank?

This report in the Guardian is depressing reading for the New Year.

If we look at the figure of £14.5bilion out of pocket, that means that all sixty three million of us will have to contribute around £230,000 each. I know some of that money will come from corporate taxes, but where do the big companies like BP, BT and Vodafone get their profits from?

If we look at the performance of the two state-controlled banks, we see that Lloyds is actually improving both in value and share price, but RBS is still an impossible basket case.

More and more, I’m coming to the conclusion that Gordon Brown’s decision to save RBS was one of the worst pieces of political judgement ever, that ranks with when Neville Chamberlain thought Hitler was a good bloke to be trusted.

I wonder how many idiots, still bank with RBS or their accident-prone subsidiary; NatWorst?

I know of one supposedly sensible guy who does, but he got a mortgage with NatWest, in the good times.

With RBS, the bill would have been lot less, if we’d put the bank down and compensated, all those individuals and companies, who’d lost money as a result.

But if he’d done that, Gordon Brown would have have lost every Labour vote in Scotland to the Nationalists.

He might though have retained power in 2010, as the rest of the UK, would have applauded his courageous action.

January 1, 2014 Posted by | Finance, News | , , | 1 Comment

RBS Tries A New Line In Customer Service

I love this story, from the Edinburgh Evening News.

For RBS customers, it’s Christmas.

But obviously, only in Edinburgh!

They would never have tried such a stunt to get new customers in Glasgow!

December 25, 2013 Posted by | Finance, World | , , , | Leave a comment

The Dumbest Bank Of The Year

This has just  been awarded by Bloomberg to the Royal Bank of UK Taxpayers.

Bloomberg reports it here.

It doesn’t say, if the bank turned up to receive their award. Or did they send Gordon Brown?  After all he started this fiasco!

December 14, 2013 Posted by | Finance, News | , | Leave a comment

Giving A Bank A Cyber Kicking When Its Down

RBS and its subsidiary NatWorst are getting attacked by hackers according to this report in the Guardian. Here’s the bank’s description of the problems and their explanation of what happened.

The bank said its systems had been deliberately targeted: “Due to a surge in internet traffic deliberately directed at the NatWest website, customers experienced difficulties accessing some of our customer websites today.

But the outcome is the same as ever and customers couldn’t use the web sites.

I blame some hackers, who have a vested interest in RBS going bust.

Perhaps they’re another wunch of bankers, who have hedged the share price!

Will the last customer to leave RBS/Natworst please close their browser!

December 7, 2013 Posted by | Computing, Finance, News | , , | Leave a comment

A Quick Analysis Of Bank Phishing E-Mails

I have been collecting bank phishing e-mails since July.

I’ve received a hundred and six of them, with most banks being mentioned a couple of times. The scores were as follows.

Halifax – 2

Nationwide – 2

HSBC – 9

Santander – 2

Lloyds – 2

But this is dwarfed by twenty six aimed at customers of RBS and Natwest. Let’s face it, if you’re a phishing expert, you might target a bank with well-publices problems, as an e-mail about security issues might be expected. Incidentally, I’ve never had an e-mail of any sort from Nationwide, except for a monthly one, to say that my statement is ready. But that has no links in it.

So that is another reason to leave the bank, as because you are obviously not that savvy in staying with them, you might be the sort of person, who falls victim to the scam.

But I wouldn’t think of moving to Barclays, as they score a massive 53 in the period.

It would seem to me, that the time you are most vulnerable to scams is just after you’ve changed banks, so as there are still Barclays phishing e-mails flying around, I’d avoid them.

December 3, 2013 Posted by | Computing, Finance | , , , , | Leave a comment

Would Any Sane Person Bank with RBS?

RBS had yet another computer failure last night, as reported here on the BBC.

This would appear to be the third time, after this failure in March and the one referred to here in 2012.

If you search this blog for Natworst, you’ll find a few more customer service failures.

Show me someone who banks with RBS or one of their sorry subsidiaries and I’ll show you an idiot! Why haven’t they moved their account away from this complete travesty of a company? The answer must be a five letter word beginning with I.

December 3, 2013 Posted by | Business, Finance | , | 1 Comment

A Use For RBS

It was raining hard as I passed the offices of the Rpyal Bank of UK Taxpayers on Bishopsgate.

A Use For RBS

A Use For RBS

At least the building kept everybody dry as they walked along or waited for a bus.

August 25, 2013 Posted by | Transport/Travel, World | , | Leave a comment

Zopa Tweaks The Alogorithm

I am a Control Engineer by training, so I’m supposed to be able to make systems perform in a safe and stable manner.  As an example, when your train comes into the station and stops precisely in the right place, or an airliner lands itself automatically, a Control Engineer will have been responsible for working out the principles of how that is done. I have said before that Zopa is in fact a stable system, but now they have tweaked the algorithm to speed up the lending process without losing any of the stability. It’s all described here in their blog.

The most important way to lend money faster is to create a bigger demand. Zopa asks lenders to spread the word to those with good credit ratings, who might want to borrow money for sensible purposes.

But of course, you won’t get a bigger demand unless you have more money in the pot to borrow! So the whole process should spiral and feed in on itself.

The one thing that needs to be maintained to the highest possible level, is the checking of borrowers to make sure, they’re credit worthy.

But even this process should get better, as Zopa learns more about good borrowers and this feeds back into the system.

The whole system is a classic feedback control system, that has the ability to mutate and change itself by learning from its history.

Does your very average bank, like the Royal Bank of UK Taxpayers behave like this? Of course it doesn’t, as those at the top cast a strategy in stone and it gets slavishly followed to the letter.  Unfortunately, it has no capacity to learn and change in a Darwinian manner.

But more importantly, it can’t respond easily to increased demand and a changed marketplace. Royal Bank of UK Taxpayers also has constraints placed on it, as regards to parameters like working capital.

Zopa just needs to balance their lending to the amount that is deposited by lenders, or as I prefer savers. If I look at my figures for Zopa over the last year or so, these figures have been moving towards balance.

Now with their Safeguard system enabled, the loop has been closed!

July 16, 2013 Posted by | Finance | , , , | Leave a comment

The HBOS Three Should Be Banned

This story on the BBC’s web site, says that the Banking Standards Committee has recommended that three at the top of HBOS, should be banned from working in the City, after the failure of the bank in 2008.

I agree, as not only did they ruin HBOS, but they ruined Lloyds as well and not forgetting all of the small shareholders and businesses they damaged.

As with RBS, HBOS should have been allowed to go bust.

We’d all be in a much better state, if they had!

April 5, 2013 Posted by | Business, Finance, News | , | 1 Comment

Sir Mervyn Suggests Splitting RBS

This is the gist of a story on the BBC’s web site. It’s an idea that might work, although I’m still in favour of liquidating all of the Royal Bank of UK Taxpayers.

On the other hand we could always use it as Danegeld to make unwanted immigrants go home, by giving them shares on condition they went away.

Now there’s an idea for UKIP!

It would solve the problems of immigration and RBS at the same time.

March 6, 2013 Posted by | News | , , , | Leave a comment