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Virgin prepares for UK banking push

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
http://www.ft.com/cms/s/0/f064ccce-fc28-11de-826f-00144feab49a.html

perhaps Richard Branson is envious of his wealthier banker friends.

is the banking/finance industry still where money is to be made?

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Based on the huge bonus payments recently, I'd say yes. WOrth noting that he's been trying to get into banking for some time now.

    Perhaps he needs a new banks to help loan Virgin more money?
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    justjames wrote: »
    is the banking/finance industry still where money is to be made?

    I think he may be better off being part of the Federal Reserve.

    http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2010/Let%E2%80%99s+Get+Fisical+January+2010.htm

    2009 required $1.5 trillion of new debt to finance the deficit, with the Federal Reserve "purchasing" nearly 90% of the debt.

    A great business to be in when you know those Federal Reserve Notes are someone else's liability.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    We are going to lose Abbey and A & L this year due to the Santander merger. We've also lost Northern Rock so I will be keen to see another player in this, especially with Virgin being quite an empire as it is already.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Cant exactly make as much a hash up as the big banks allready have :P
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Warren Buffet said the best thing he ever did was invest in insurance, because it's an industry where you get the money up front, so you don't have to borrow to invest. And given the amount of weird shit Richard Branson likes to invest in, that's probably his thinking. Ah well, good luck to him, I guess.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    MoK wrote: »
    Based on the huge bonus payments recently, I'd say yes. WOrth noting that he's been trying to get into banking for some time now.

    Perhaps he needs a new banks to help loan Virgin more money?

    hmm youre right. this give me ideas...
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