Forum Topic

Small Businesses pushed into administration by Banks

The banks have again come in under scanner today for being greedy and behaving irresponsibly after the previously caused havoc by selling swaps and hedging products to small businesses, which has ruined lots of small family businesses.Mary McLeod has also started to look into the difficulties expereinced by small businesses in this area. We know that a lot of good work is being done by Business Secretary Mr. Vince Cable to foil the wrong doings of the banks in last few years.We will now be pursuing through the organisation to investigate service charge companies pathetic accounting set ups that are ruining the local businesses in a similar way as the banks are doing it.Anyone experienced this in the last few years should make the effort to voice their greviance and get justice by punishing the greedy devils.

Satvir Sidhu ● 4274d9 Comments

Vince Cable MP, the Business Secretary, is to be congratulated for commissioning Lawrence Tomlinson, the Yorkshire entrepreneur, to investigate and report on the performance of the Royal Bank of Scotland. He has sent Mr Tomlinson's report to the appropriate financial and banking regulators.Mary Macleod MP is to be congratulated for her long standing support and advocacy for small businesses.I have met Vince Cable MP in the past when he was an Opposition MP discuss to  business issues and I can assure you he listened well, asked the right questions and worked effectively with a Labour MP to make representations to the then Labour Government.

David Giles ● 4272d

well extactly.Banks are using same hand picked firms to break businesses as they required.All the umbrella bodies SRA, RIICS, FCA and FOS have no teeth because they are funded by their registered members hence organisations are doing fraud and robbing small businesses knowing they do not have huge finance to fight legal battle as they have.

Satvir Sidhu ● 4273d

Fair enough. I've just caught up with the news about the Tomlinson Report and it looks like some more horrendous misdoings by RBS (in particular).Vince Cable is due credit for hiring Lawrence Tomlinson and commissioning this report: I do believe poor support for business by the finance sector has been a huge handicap for industry here and on the face of it Tomlinson has uncovered activities that go beyond poor support and towards outright fraud.

Guy Lambert ● 4274d

Is he a useless Business secretary? May be his staff does the work for him and he just attends meetings!!! May be you can guide me to a better hard working person in my area of interest since you know Mr. Cable more closely?  I am not interetsed in the dirty politics.His dept. has pushed FSA/FCA to get the banks to own up to their mistakes and offer redress to small businesses that have lost because of the wrong products were sold with loans. Around 30000 businesses have suffered in the country.

Satvir Sidhu ● 4274d

I'm not quite as negative about St Vince as Vanessa but as to " We know that a lot of good work is being done by Business Secretary Mr. Vince Cable to foil the wrong doings of the banks in last few year"There is absolutely nothing that I've seen from him that has done anything at all to foil wrong doings of banks.

Guy Lambert ● 4274d

With inviction eh! And who mentioned colour may I ask? I merely take the view that Cable is a pushover and won't rock the boat no matter what, he's as much use as a chocolate teapot.

Vanessa Smith ● 4274d

It seems that you are a person with a political background/interests but I am not. So I do not know what you are talking about?I praise people who work hard with inviction, what ever their colour.

Satvir Sidhu ● 4274d

It appears that the banks offered "help" that wasn't.

Philippa Bond ● 4274d

"We know that a lot of good work is being done by Business Secretary Mr. Vince Cable to foil the wrong doings of the banks in last few years."I don't know who the "we" is that you referred to - but I'm b*ggered if I think the sanctimonious mealy-mouthed Vince has done sod-all. He took his thirty pieces of silver and gave up any vestige of integrity when he joined this sorry lot.

Vanessa Smith ● 4274d