If Credit Suisse goes bust

[globaldiver]

Back to 2007/08?

[Mounts Kipper]

15 minutes ago, globaldiver said:

Back to 2007/08?

I’d say not… aren’t the banks better capitalised and more robust set of rules brought in. Nothing would surprise me though. 

[tyldesley_white]

8 minutes ago, Mounts Kipper said:

I’d say not… aren’t the banks better capitalised and more robust set of rules brought in. Nothing would surprise me though. 

Here in the US it was (Dodds and Frank) by Obama but someone decided to get rid of it, so here we are again, will in the US anyway

[globaldiver]

10 minutes ago, Mounts Kipper said:

I’d say not… aren’t the banks better capitalised and more robust set of rules brought in. Nothing would surprise me though. 

They are supposed to have learned the lessons, and I think that UK banks and regulators (probably) have, but…..

[Mounts Kipper]

It’s a bit of a cunt for those like me who are thinking of taking the 25% out of their private pension… oh well it’s carry on working. 

[globaldiver]

6 minutes ago, Mounts Kipper said:

It’s a bit of a cunt for those like me who are thinking of taking the 25% out of their private pension… oh well it’s carry on working. 

You can still take 25%, up to a max of 25% of £1,073,100, which is £268,275. 

It might be prudent to take it before we have a change of government.

 

[globaldiver]

8 minutes ago, Mounts Kipper said:

It’s a bit of a cunt for those like me who are thinking of taking the 25% out of their private pension… oh well it’s carry on working. 

And it’s in the wrong thread! 😀

[Tonge moor green jacket]

They were talking about this after the silicon Valley bank and its troubles. Hence the huge effort to get it sold quickly. Their depositors had their businesses saved, and more widely, reduced the chance of contagion.

Has it worked...?

[Winchester White]

10 minutes ago, globaldiver said:

You can still take 25%, up to a max of 25% of £1,073,100, which is £268,275. 

It might be prudent to take it before we have a change of government.

 

Genuine question but why do you say that?

[globaldiver]

2 minutes ago, Winchester White said:

Genuine question but why do you say that?

To be safe.

Of we have a change of government (likely), then they might want to raise money and might look to attack pension funds. It wouldn’t be the first time. The tax free cash would be an obvious target.

If you didn’t take it and lost it, then people might be a bit cheesed off.

[Tonge moor green jacket]

8 minutes ago, globaldiver said:

To be safe.

Of we have a change of government (likely), then they might want to raise money and might look to attack pension funds. It wouldn’t be the first time. The tax free cash would be an obvious target.

If you didn’t take it and lost it, then people might be a bit cheesed off.

I hadn't realised that it was the wallpaper man who had cut the allowance from £1.8m to its current level. A measure to raise funds after the crash, so, as you say, may well be a target again.

[Winchester White]

27 minutes ago, globaldiver said:

To be safe.

Of we have a change of government (likely), then they might want to raise money and might look to attack pension funds. It wouldn’t be the first time. The tax free cash would be an obvious target.

If you didn’t take it and lost it, then people might be a bit cheesed off.

Get you, thanks for the explanation 👍 

[globaldiver]

1 minute ago, Winchester White said:

Get you, thanks for the explanation 👍 

Any time

[RoadRunnerFan]

@globaldiver time to buy the dip?

[gonzo]

https://www.theguardian.com/business/2023/mar/15/credit-suisse-what-is-happening-at-swiss-bank-and-should-we-be-worried

Good article on it

[globaldiver]

6 minutes ago, RoadRunnerFan said:

@globaldiver time to buy the dip?

Getting there, with some. Might be more to come.

[Mounts Kipper]

If I had the chance to take 100% of my pot and chuck it in the bank I would, who knows what’s round the corner on the markets but I’ve an uneasy feeling, and I’d take a chance with the money safe in my bank account. 

[royal white]

4 minutes ago, Mounts Kipper said:

If I had the chance to take 100% of my pot and chuck it in the bank I would, who knows what’s round the corner on the markets but I’ve an uneasy feeling, and I’d take a chance with the money safe in my bank account. 

Buy Bitcoin 😉

[Mounts Kipper]

Just now, royal white said:

Buy Bitcoin 😉

Not for me that. 

[gonzo]

Talking to a customer today who lost half his pension investing it in to a high brow wine enterprise. Buying bulk loads and selling at mega prices. £150 a bottle caper.

Made a few decent amounts in year running up to it, then had a deal with the value of £80k in the offing then got an email saying the company had gone in to liquidation.

Felt bad taking a tenner off him for his windows

[globaldiver]

11 minutes ago, Mounts Kipper said:

If I had the chance to take 100% of my pot and chuck it in the bank I would, who knows what’s round the corner on the markets but I’ve an uneasy feeling, and I’d take a chance with the money safe in my bank account. 

Why can’t you?

[Mounts Kipper]

10 minutes ago, globaldiver said:

Why can’t you?

Tax. 

[tomski]

1 minute ago, Mounts Kipper said:

Tax. 

Why you paying MADMAX

Unless you mean the Stephen French style tax ha

Edited March 15, 2023 by tomski

[globaldiver]

2 minutes ago, Mounts Kipper said:

Tax. 

Sorry, I misunderstood. But you can take it out of the markets and put it in a cash fund within your pension, I’d expect?

[Mounts Kipper]

1 minute ago, tomski said:

Why you paying MADMAX

Unless you mean the Stephen French style tax ha

I’m still working, can take 25% tax free but would have to pay tax on the rest.