I admire people that take proactive approaches to represent their stance on a certain subject they feel passionate about. Rally leaders, political figures, even hippy protestors in masses- those people make things happen. But when you’re witnessing a lone ranger outsourcing a feeble letter to a powerful organisation, which for part doesn’t even make sense, it’s kind of like watching a beetle struggle on it’s back. Only the beetle has a red nose with size 20 yellow shoes on.
If you find a hair in your soup, you write a degrading letter, cursing at the chef and his/her mum. Hell, even smear some anthrax on the envelope. At the end of it, you may even get invited back to the same ol’ shitty restuarant for a free meal for you and a partner. Err…problem with the Bank Of England– perhaps a snotty letter just won’t cut the mustard.
Here’s a letter that was writen by a HPC member to the Bank Of England. It’s pretty incredible. Have a lookski…
waitingfor hpc (HPC member) wrote:
Thank you for your enquiry.
I would emphasise that the purpose of the scheme is to help improve the liquidity position of the banking system and raise confidence in financial markets while ensuring that the risk of losses on the loans they have made remains entirely with the banks. The whole focus is on underpinning the liquidity of the UK banking system. Financial markets are not working normally and without action, there is a risk that this will have an impact on the wider economy.
It is not a bail-out in any sense and it’s misleading to describe it as such.
As you may recognise from the details of the facility – we are swapping assets with the banks of equivalent value – with margins applied by the Bank. This is about the liquidity of assets, not their soundness.
Our announcement may be seen in full over here (page on the Bank of England website has since been removed).
You can read the whole thing – including a comment thread which started to turn bitter right here
Needless to say, a few of the members lapped it up and joined the revolution by sending in more letters. I’m sure they’ll eventually make an impact! No, really! Perhaps the monkey the BoE employs to respond to the abundance of emails they probably get on a regular basis will eventually give a shit. The other HPC members, well, they just pointed and laughed in true grammar-Nazi manner, claiming that the poor chap couldn’t possibly be English with such illiterate ability.
Hey, I’m not a grammar-Nazi myself. I mean, I make mistakes all-fucking-day long. But hey, I would even give the courtesy of using Microsoft Word to check my spelling when complaining to waiting for hpc’s mum about his poor grammar. Know what I mean?
Anyways, this is honestly how I think the conversation went at the Bank Of England Head Office. What do you think?
Disclaimer: I'm just a landlord blogger; I'm 100% not qualified to give legal or financial advice. I'm a doofus. Any information I share is my unqualified opinion, and should never be construed as professional legal or financial advice. You should definitely get advice from a qualified professional for any legal or financial matters. For more information, please read my full disclaimer.