Good news is better than no news at all.

Good Morning to you all,

Just finished my morning coffee and before I start my daily working schedule, decided to pop in and mention about the latest news from our government and their decision to inject money into some of our British banks. That in its self is good news and really at a time when we need some form of government protection to protect our savings and also our way of life as we know it.

I really wish that this position had been taken ages ago as some of us old timers saw it coming, I myself certainly did about two and half years ago when even those amongst us who are not financial geniuses realized the position of the money traders and banks needed to come under more governmental scrutiny than was being done at the time.

We are told that banks are at present hording money and not lending to each other, so by that statement what liquidity do they actually have, and why if they are indeed supposedly hording money, then why do they need tax payers money to keep them going.

I'm sure, that now that the government has taken a stake in those banks we are hopefully going to see more transparency in their statements of what their actual financial position really is.

As far as I can see we are in uncharted waters here, and being of pensionable age myself one does get concerned about the future.

The upside to all of this is, a possible a new dimension in economic thinking and possibly a more unified approach by countries in joining together in protecting the world markets from these types of financial disasters.

Once the markets have settled down there must be a clean out from top to bottom of how traders, banks and others , do dealings on the foreign exchanges, and I'm sure there is going to be a few heads going on the chopping block that's for sure.

I personally would like to see all these large bonus that were issued to these financiers being stripped and returned to help with this mess they have got us all in, and be paid in the future on successful results not as an expected norm.

I personally do not think we are out of the woods not yet anyway, as trust has been broken with the banks and financial sector and it is going to take a long time to heal the wounds.

I would also like to see a curtailing of these credit cards that are being issued by banks and others, "If you ain't got it don't spend it" it's as simple as that. Not being a financial genius, but more a common sense type person, why not have one banking card that covers all needs and for the bank that issues them create a limit that they know you are comfortable with and can re-pay, and be limited to only one, even if you have more than one bank account possibly with another bank, that card follows you everywhere and you can increase your limit on that one card either by showing you have increased your salary or capable of paying it back by showing that you can actually take on the extra increase on your limit, not hand out these plastic cards like confetti as they do now.

Well back to work, got to keep my end up so to speak, I'm sure this mess will all get sorted, but be prepared for some radical thinking and determined moves by national governments on how we all do our financial dealings in the future.

Kindest regards

Jimmy and Constance