Final Piece - The Financial Crisis 2008 Ten Years On - Stricter Rules For Banks.

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Stricter Rules For Banks (Idea Three) Explanation

We think that stricter rules for bank would be the best for the UK. We think this for many reasons.

Our first reason is that stricter rules doesnt mean that there needs to be more rules it just means that it could be bit more stricter. An example is if someone was a banker and they had a big list of rules they would probably not understand and would only be able to have one customer per day but if they had stricter rules they could understand. In fact, there would most probably be less rules if they are more stricter so many bankers wouldn't get confused.

Another reason is that stricter rules could mean that banks have safer lending and that bankers dont get that much for taking risks. For example, there could be individual rules for how bankers get paid and individual rules for how there has to be safer lending.

Stories To Support Our Idea -

How it could be bad without

Janny is a banker. She decides to take a big risk. She decided that she would give one person £10000 that needs it. A few days later they couldnt pay antying back. The bank has lost out on £10000+ ( + because interest).

How it could be good with

Janny is a banker. She knows the new banking laws - you can only spend up to £1000 -. One day someone asks for £5000. Janny remembers the banking laws and than rejects this offer. The bank is more safe because they haven't taken any risks.

STORY ABOUT AFFECTS

Martins story (Made up) -

"It was a catastrophe, my money on my credit card dissapeard. I was trying to help my bussines by risking all my money on it. Sometimes, during the financial crisis my bussines would grow weaker with less customers every day. I struggled. I realy struggled. I have a wife and she lost her job. We found it hard to pay rent until we had borrowed money from my sister who lives in New Mexico.

FACTS ABOUT THE FINANCIAL CRISIS

The Lenen Brothers were blamed for most of the financial crisis

Within a few weeks in September 2008, Lehman Brothers, one of the world’s biggest financial institutions, went bankrupt; £90bn was wiped off the value of Britain’s biggest companies in a single day; and there was even talk of cash machines running empty.

DONT BE A FOOL AND FOLOW THE RULE

We believe we have used reasoning and the other skills by:

Using strong ideas for reasoning

Using different senarios for different reasons.

Using facts that we know to make our evedence stronger!

Thank you for your time

Final Piece by Entertaining_tangeriene, inventive_bat and crafty_context

Comments (1)

  • Millbank-logo-250x250.jpg joyous_quince | Millbank Academy A
    20 Dec 2018

    This will help me for my final piece but I think banks should have strict rules but not too much because with no rules, there could be another financial crisis but with too much rules, I think it could sometimes be harsh for the citizens. I think the bankers should give citizens the money they need to borrow ONLY if the bankers think they will pay it back.

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