Thursday, October 09, 2008

The UK Banking Crisis Explained!

From thedailymash.co.uk

BANKS TO LEND YOU YOUR OWN MONEY

ThE government is to invest £500bn of your money in British banks so they can lend it back to you with interest.
















'I got confused'

The historic move is being hailed as a lifeline for the financial system as long as nobody asks too many questions.

Julian Cook, chief economist at Corbett and Barker, said: "The government will give your money to the banks so the banks can start lending you that money, probably at around 7% APR. "Thanks to all the interest you're paying on your own money, the banks will make billions of pounds again and normality will be restored.

"After a few years of this the government will cash in the bank shares it bought with your money and use the profits to build a huge f*cking dome somewhere."He added: "In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot."

Chancellor Alistair Darling said the decision had been taken in tandem with the banking industry, adding: "They used a lot of dirty words I'd never heard before and one of them had an angry looking dog."

Meanwhile, Emma Bradford, a sales manager from Bath, said: "Why doesn't the government just give my money to me so I can buy stuff from businesses who will then make a profit and put it in a bank?"

But Mr Darling insisted: "Shut up."


DOES ALISTAIR DARLING HAVE WHAT IT TAKES TO RUN SEVENTEEN BANKS AT ONCE?













Nope

CHANCELLOR Alistair Darling was said to be nervous and excited last night after being told he would have to run 17 banks at the same time.

Mr Darling, who has no previous experience of running a bank, has opened a new Word file on his computer and has already typed some headings in block capitals.

The chancellor said: "Barclays - now that's quite a big one isn't it? Right, so that'll probably need all of Monday.

"Nationwide I can do Tuesday mornings. I'll split Wednesday between Lloyds and Abbey. HBOS is f*cked so that'll need all day Thursday, and I can do the rest on Friday. Should be finished by half-four."

He added: "Worst comes to worst, I can always take RBS home with me and fiddle about with it in the garage."

City analyst Julian Cook said: "I believe British banking is about to enter an exciting new era of dreadful speeches, lost CDs and changing its mind every 20 minutes." Meanwhile, as the FTSE 100 continued to fall despite the £500bn pound cash injection, stockbrokers finally admitted they have not been completely honest with us.

Martin Bishop, a senior trader at Madeley-Finnegan, said: "Yeah, okay, basically what happened was last Christmas we all got shitfaced and ended up throwing £800 trillion into a volcano. "It was all Fred Goodwin's idea. He's mental."

Image and Text: www.thedailymash.co.uk

2 comments:

Sesi said...

Ha this explanation is awesome and right to the point! I really laughed hard with it. Mainly because of the unfortunate realization that it is soooo true! All I can say is, put your money into diamonds or gold and let it sit at home. Eventually, it will gain its value, again.

bollybutton said...

There we were all these years laughing at our grannies for hiding their savings around the house, when it turns out they were right all along!

If I lose all the money I have worked so hard to save when I could have been buying Prada dresses and flying around the world, I will be pissed.

Now I also see why it makes sense in my culture to give a bride her life savings in the form of gold jewelery. They knew something we don't!