Bank loans / 2 posts found
…and what not to do if your bank says “No!”
If your bank is still not saying "Yes", don't reach for the stocking mask and swag bag because it's now been statistically proven that bank robbery doesn't pay as well as you might think. Three leading economists from the Universities of Sussex and Surrey have shown that the average return on a bank heist in the UK is £12,706.60 per person per raid. To achieve a near-average income, you would have to rob two banks a year. But every additional robbery increases your chance of getting caught by a probability of 0.8. After four raids the odds are that you [...]
How to get your bank to say YES!
How much does it cost to get a bank to say "YES!" Sir Mervyn King's £140 billion scheme announced last week to lubricate the banking system and encourage a flow of funds to SMEs and prospective home buyers may not have resulted in an overnight about-turn on the part of the bankers, but there is no doubt now that the balance of probability has shifted in favour of businesses who are prepared to invest. Along with the Treasury, Sir Mervyn's plan involves two tranches of support for the banking system: £5 billion a month in cheap six-month loans to banks [...]