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Bank Cancels Titillating Promotion

samzenpus posted more than 4 years ago | from the shake-your-high-interest-account dept.

Idle 12

In an attempt to teach safe depositing practices, students at the Institute of Technology Tallaght in south Dublin were offered tickets to attend an "exotic" show for opening a new account with Ulster Bank. After parents accused the bank of "stooping to a new low" to attract young customers, and a women's group raised concerns, the bank canceled the promotion. "In line with Ulster Bank's ongoing support for student events across the country, we can confirm that as part of our student campaign in IT Tallaght we promoted a freshers' week event to be held at the Metro bar. Ulster Bank has no involvement in the organisation of this event and once the nature of the event was realised, the bank immediately withdrew any association with the event," said a spokeswoman.

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12 comments

Notablye but not atypical (1)

ObsessiveMathsFreak (773371) | more than 4 years ago | (#29380435)

Banks in Ireland usually troll university campuses in Ireland during the first weeks of the term, looking to reel in a good few first year students. They typically offer all kinds of sweeteners to go with their account; mobile phone credit, tickets, often cold hard cash. Ulster Bank are particularly keen to attract students, as they're looking to expand their position relative to the larger banks; Bank of Ireland and Allied Irish Bank.

People may think Ireland is a conservative country, but the Celtic Tiger years have changed the culture enough that Ulster Bank/Student's Union were probably pretty confident in pulling this off. Student culture here is fairly permissive in Ireland (people can drink at 18), due in combination to old Irish attitude to craic and also significantly to the influence of English red tops and their "Lad/Ladette culture".

I would be confident of two things. 1) This stunt was conceived and delivered by someone in the DIT Student's union looking to get re-elected.
2) Someone in Ulster Bank management was well aware of the nature of the scheme.

Re:Notablye (sic) but not atypical (1)

tomhudson (43916) | more than 4 years ago | (#29387981)

Two points:
  1. The "Celtic Tiger" is dead
  2. drinking at 18 isn't failry permissive - in most cultures, teenagers get to drink with their parent's supervision while in their mid - teens (some wine at the supper table, maybe a beer or a wine cooler at a babque) and there are plenty of places where the legal drinking age is 18

Re:Notablye (sic) but not atypical (0)

Anonymous Coward | more than 4 years ago | (#29395363)

WHat's a babque? Sounds Indian.

Re:Notablye (sic) but not atypical (1)

_Sprocket_ (42527) | more than 4 years ago | (#29407241)

The "Celtic Tiger" is dead

That doesn't mean those heady years haven't had an impact on the culture.

Re:Notablye (sic) but not atypical (1)

tomhudson (43916) | more than 4 years ago | (#29413439)

The "Celtic Tiger" is dead

That doesn't mean those heady years haven't had an impact on the culture.

This is true ... and the rapid abandonment by corporations is having a huge negative impact now, after people abandoned their caution and took part in the global debt frenzy. They'd be better off financially now if the Celtic Tiger had never happened. At least they would better afford to drink their sorrows away.

We're all paying for the last decade's foolishness, and so will the next generation.

Re:Notablye (sic) but not atypical (1)

_Sprocket_ (42527) | more than 4 years ago | (#29414451)

We're all paying for the last decade's foolishness, and so will the next generation.

I'm sure you had a point about culture in this somewhere and aren't just commenting on financial shennanigans. However, I'm failing to find it.

Re:Notablye (sic) but not atypical (1)

tomhudson (43916) | more than 4 years ago | (#29414785)

We're all paying for the last decade's foolishness, and so will the next generation.

I'm sure you had a point about culture in this somewhere and aren't just commenting on financial shennanigans (sic). However, I'm failing to find it.

The whole last decade of stupidity was caused by a culture of greed, entitlement, and short-sightedness. A culture that encouraged the mindset that you don't have to actually produce something of value, just load up on debt and pretend you're an "investor." The millions of people who thought nothing of committing criminal acts such as fraud by lying on their mortgage applications, those who knowingly enabled them, those who knew it was ultimately unsustainable but did it because "everyone else is doing it", and those who now defend any sort of bail-out for any of them - even Warren Buffet is profiting from the bail-out (which explains why he pushed so hard for it).

This is the new "American Way" - irresponsible, avoiding the clearly foreseeable consequences of your actions, and getting others to pay for them. Where the "fix" for the debt problem is still more debt - which just compounds the problem. Shove the problem onto the next generation, same as energy and pollution. And don't fix health care - not as long as "I've got mine, Jack!"

Like all problems, this one will self-correct. The cost will be high - it'll probably involve both the default of the US on its' debt, which, along with environental and social crisis, will set in motion the eventual break-up over the next 50 years into several regional "nations" - maybe under a new US Federation, maybe some joining Canada and Mexico; who can say for sure at this time?

But yes, it's a reference to the moral and social decay that allowed a whole nation to destroy their economic future in what devolved into a get-rich-quick Ponzi scheme.

Re:Notablye (sic) but not atypical (1)

_Sprocket_ (42527) | more than 4 years ago | (#29415005)

But yes, it's a reference to the moral and social decay that allowed a whole nation to destroy their economic future in what devolved into a get-rich-quick Ponzi scheme.

Nice rant aside, you're not actually claiming that Ireland has changed it's cultural attitude nor denying that the "Celtic Tiger" period had an effect on it.

Re:Notablye (sic) but not atypical (1)

J4 (449) | more than 4 years ago | (#29411895)

"drinking at 18 isn't failry permissive"

When I was 18 it _was_ the drinking age (this is in NY). Land of the free my ass.

Re:Notablye but not atypical (1)

temojen (678985) | more than 4 years ago | (#29395931)

It's not specific to Ireland. It's also fairly common in Canada for Banks, Credit Card Companies, and Car financing companies to do a heavy sales pitch at universities during the first few weeks.

Re:Notablye but not atypical (1)

RockDoctor (15477) | more than 4 years ago | (#29400555)

It's not specific to Ireland. It's also fairly common in Canada for Banks, Credit Card Companies, and Car financing companies to do a heavy sales pitch at universities during the first few weeks.

I'd be fairly surprised to find a contry which has both a higher education system and a banking system, which did not have an annual rush to sign up as many as possible of this year's crop of freshers.

OK, plausible circumstances where there wouldn't be a rush - if there's no once-per-year rush of people leaving compulsory education and moving into further education.If that's plausible. Which it's not, really.

...said a spokeswoman (0)

Anonymous Coward | more than 4 years ago | (#29402607)

a spokeswoman for WHOM or WHAT? Is this an example that anyone can put an article on /.? Seriously -- WHO put together an offer to put WHOM in a show for WHAT?

Un-news-iest post on /. ever.

E

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