Friday, August 31, 2007

The Eagle has Landed - badly!

There is something immensely cheering for us all in the news that Barclays (you know, the bank that used to have an eagle as a symbol) has had to apply for an overdraft. It sort of brings them down to our level I feel and the replacement for the eagle perhaps might be a turkey, just in time for Christmas.
At some time or other, we've nearly all had to go cap in hand to our bank in a desperate attempt to ward off financial disaster, and to hear that one of those sniffy institutions that has humiliated us in the past is getting similar treatment, puts a little sunshine into our lives.
No doubt Barclays went, if not cap in hand, with bowler and umbrella akimbo, to plead their case with the Bank of England.
Normally, we peasants are asked just what brought us to this pitch of fiscal imprudence and here Barclays have come up with the equivalent of “the dog eat my homework” sort of excuse. They said their computer system had failed. Try telling that to your bank when you go into the red.
Mind you, it was only for a trifling £1.6 billion but it was less than a month ago that they had needed a few million from the same source, apparently unable to raise the wind among the other clearing banks.
So now, when you saunter into Barclays and ask to have an overdraft facility, you will be able to do so with an air of casual nonchalance and a nudge and a wink.
After all, you're both in the same boat now.


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