How bad are our banks? - This is Money podcast

This is Money Podcast

This is Money

Business, Investing, Business News, News

4.4 • 735 Ratings

🗓️ 26 February 2016

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Britain still holds a stake in two of its biggest banks, Lloyds and RBS, but how bad are they?We take a look at whether the banks' results, whether they are cleaning up their act and whether they are worth investing in.

Meanwhile,...It was the best of times… it is now the most uncertain of times.

With four months to go to before the people of England, Scotland, Wales, Northern Ireland and the 2 million expats living in continental Europe vote whether to stay in or out of the European single market, the country’s finances are starting to react to the inevitable uncertainty.

One thing is for sure, the pound in our pockets is worth less than it was a week ago.

A weak pound is not the end of the world – or Europe – but it’s enough already to make people think twice about booking a summer holiday abroad.

Could Spain really become a luxury holiday destination reserved for the rich?

It’s been a rocky week too for banks, with profits, bonuses and bailouts colluding to make even less sense than usual.

Luckily This is Money editor Simon Lambert, personal finance editor Rachel Rickard Straus and Share Radio money expert Georgie Frost take listeners on an enlightening ride around the rollercoaster of riches.

Also on the agenda…

Will Chancellor George Osborne steal what’s left of your pension in next month’s Budget?

House prices – what the hell?

Are you a voucher victim?

And…

Loads of ways (14) to get your hands on FREE MONEY.

Plus loads more.

Email us hello@dmgmedia.co.uk

Text us 020 7938 6000.

Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane

Producer: Georgie Frost

Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0	This is Money, brought to you in partnership with NS&I, giving you 100% security for your savings.
0:27.9	A very warm welcome to This Is Money and Share Radio podcast in partnership with NS&I.
0:36.2	I'm Georgie Frost here with you on DAB online and through the Share Radio mobile app every weekday from 9 until midday sharing ideas about money.
0:40.4	I'm joined in the studio by editor Simon Lambert and personal finance editor Rachel,
0:44.7	Rickard Strauss, from the award-winning This Is Money to talk through some of the top stories on their website that they've been investigating over the last seven days.
0:48.6	And on the agenda today, crisis? What crisis?
0:52.3	Big banks pay out billions in bonuses and dividends, despite the rocky
0:55.7	start of the year and fall in profits, HSBC Lloyds and RBS this week.
1:00.0	These numbers have come out at a critical time. We've seen banking stocks very weak.
1:04.0	Lloyd banks surprise the market with the strength and the resilience of their numbers.
1:09.0	Is it time to start thinking about a summer staycation as Brexit fears push the pound
1:13.9	to its lowest level against the Euro for more than a year?
1:17.4	Also today as we gear up for the Chancellor's budget, fears are increasing over what we'll
1:21.7	do with our pensions.
1:23.7	Pensions are not a benefit, they are a right.
1:26.9	One of my constituents described them as a contract and that's exactly what they are.
1:31.3	We take a look at the options on the table and the potential impacts.
1:35.3	Also we take a look at rising house prices.
1:38.3	Mark, it's certainly very cyclical and we do see these big swings in house prices,
1:43.3	but we don't see much evidence of there being any sort of long-term narrowing in the North-South divide.
1:49.6	Well, Santander reckon they could double in 15 years if that's not bad enough. We're hearing more examples of mortgage ageism and the woes of second-stepers.
1:59.2	Also, today, fancy a nice little cash windfall.
	...

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