Corona Virus Treatment

Hi Perki

I’ve been ticking over slowly, limited work per day so I can keep nice and clean between jobs and need the weather to warm up a tad. Still on the first cuts which take longer.

 

We can manufacture pretty much anything in this country, but competing with the Far East who pay their workers almost nothing a week, we cant compete.

 

I couldn’t disagree more. I myself am a bank manger. I joined my company back in 2008 just before the financial crisis hit. The reform of the daily operating and selling of products has changed ten fold since the . Everything is documented and evidence needs to be recorded as to why a product was sold, in some cases appointments are recorded for evidence. This historic view of banks is waring now and frankly outdated. In fact these last two weeks my staff have directly been contacting as many customers as possible to see if there are ways we can help. In some instances we have bought bread and milk to elderly people and even in one case helped an elderly lady make contact with her son abroad who she was worried for.

In regard to banks offering 30% loan rates, well that’s just not true. Yes, as always you could find some lenders out there that do, but the high street banks offer very reasonable rates and high interest rates are reflected on customers with bad credit scoring. Equally we are offering businesses, business loans with 12 months interest free, to the tune of 5 million pound per business along with support for self employed customers. Not excluding payment breaks for 3 months on loans and mortgages for personal customers and maybe longer depending on what happens here.

You can’t keep beating banks with the same stick. This is an unprecedented situation that hasn’t been faced before. Will they make mistakes? Of course, are they helping customers? IMO yes and the opinion of people I speak to daily at this moment in time. Tomorrow, my team will go into work, put themselves at risk and try and contact as many people as we can to see how we can help them in their current situation.

 

Most banks are now paying dividends to investors so they are getting returns on shares invested, equally the public purse will get money back when those shares are sold back. Equally I’d like to know where these 30% rates have been plucked from? Mortgage rates are as low as 1%, loan rates as low as 2/3% and credit cards 8/9%. The only high rates at present are on overdrafts and this was enforced by the FCA as consumers were using overdrafts in the wrong way and more like flexible loans, with that said the new interest and charges model on overdrafts will leave over 75% of people better off.

 

There's no law about having to keep charging full interest rates on credit cards is there?

Those who are using credit cards already to make ends meet, should be given a lower rate of interest until this mess is over.

Sorry @Scotty2088 , I worked as a credit manager in the steel industry for over 30 years and I can tell you, we used to laugh at the banks who insisted on major security for loans whilst we worked with clients through thick and thin on the strength of our evaluation of their worth and business practices. I worked with everything from small shops to the car manufacturers with over 90 million flowing through my receivables every month. Yes, we made our margins by producing steel and selling it at competitive prices but we also cared about every man working at those companies and showed lenience in payment arrangements where it would benefit everyone in the long run and was beyond their control.

And if we could work on Net 30, no interest, then the banks at this time could darned well do their bit to help mitigate the cost of trying to survive. Cut the interest rate on credit cards! We are talking about the guy who needs a bottle of milk, not the tycoons.

Okay, rant over. You cannot make those decisions @Scotty2088 so I know you can't do a thing about it!

 

Well it has curtailed my travel. The furthest I have been for 10 days is the end of my drive
I actually walk Molly most days, so I have seen the other end of our street!

 

There is always a bright light somewhere ...



EDIT: Sorry, I should have put the article up if you haven;t seen it on TV...

Yahoo is now a part of Verizon Media

 

It’s these numbers that bothers me.......numbers ,numbers ,numbers ,we are saturated with stats.
Hundreds of deaths and every single one has family and friends ,jobs.....they are just numbers ,I guess that’s how it it , how quickly it has become the norm.

It’s hit home hear that the local ice rink is to become a mortuary..........Is that real...yes all of these changes to our world have come upon us so suddenly and are real.

We are lucky we have a garden ,a greenhouse ,a fishpond and comfortable.
Counting our blessings here.

At least we have a Grand National tomorrow all be it virtual.

Stay safe everyone.