RBS pay up.....
Discussion
http://www.bbc.co.uk/news/business-17944066
A good result then, loan repaid and an 82% stake in a major bank.
A good result then, loan repaid and an 82% stake in a major bank.
Of course this is positive news but it's hard to feel very good about the macro-economic situation right now. It's a bit of a sorry affair with economic performance so muted, unemployment so high - especially amongst the young - the budget and trade deficits running at elevated levels, all the government debt you can eat and so on.
Well done to Hester et al. No doubt their handsome rewards will be even handsomer as they move on to pastures new in the next several years. A shame for the many tens of thousands of their former employees who became part of the solution, of course.
As to releasing the shares back to the market; it's a bit premature for that talk isn't it? Maybe some will be released in time for the next GE. By which I mean shortly before the next GE would be the optimum time for the market. The GE being quite co-incidental.
Still, roll on the good news; we've been waiting long enough.
Well done to Hester et al. No doubt their handsome rewards will be even handsomer as they move on to pastures new in the next several years. A shame for the many tens of thousands of their former employees who became part of the solution, of course.
As to releasing the shares back to the market; it's a bit premature for that talk isn't it? Maybe some will be released in time for the next GE. By which I mean shortly before the next GE would be the optimum time for the market. The GE being quite co-incidental.
Still, roll on the good news; we've been waiting long enough.
RichyBoy said:
So how does this effect the trillion pound debt?
Surely the issue is what happens in europe, if that situation worsens these banks will need another bailout won't they?
I will tell you what it means... It means the feckless idiots that keep bleating on about bankers causing our debt and it is their loans and bail outs that are cutting public sector jobs and ruining lives by cutting benefits need to find someone else to blame... And maybe just maybe they will start to realise they need to look to inward and work out that their bloody dumb ass philosophy is flawed to the nth degree! Surely the issue is what happens in europe, if that situation worsens these banks will need another bailout won't they?
heppers75 said:
RichyBoy said:
So how does this effect the trillion pound debt?
Surely the issue is what happens in europe, if that situation worsens these banks will need another bailout won't they?
I will tell you what it means... It means the feckless idiots that keep bleating on about bankers causing our debt and it is their loans and bail outs that are cutting public sector jobs and ruining lives by cutting benefits need to find someone else to blame... And maybe just maybe they will start to realise they need to look to inward and work out that their bloody dumb ass philosophy is flawed to the nth degree! Surely the issue is what happens in europe, if that situation worsens these banks will need another bailout won't they?
never going to happen...
RichyBoy said:
So how does this effect the trillion pound debt?
Surely the issue is what happens in europe, if that situation worsens these banks will need another bailout won't they?
It doesn't impact the deficit at all...these were loans made by the BoE not by HM Govt I believe and even if they have been made by HM Govt they would have appeared as an asset rather than a liability (deficit) on HM Govt's balance sheet.Surely the issue is what happens in europe, if that situation worsens these banks will need another bailout won't they?
Europe won't be as bad for the British banks as it would have been. We are somewhat fortuitous in that respect...our banks have been trying to get rid of all the s
t on their balance sheets since 2008...the Europeans only started thinking about it last year and then when the ECB understood that it was physically impossible for all the European banks to do so at the same time did they think up the idea of the LTRO to give the banks three years to do so. This process was helped in no little part because European banks found it almost impossible to borrow money in any currency other than Euro's in Q4 of last year.....not being able to borrow $ or JPY if you're a bank is very,very bad.heppers75 said:
http://www.bbc.co.uk/news/business-17944066
A good result then, loan repaid and an 82% stake in a major bank.
Good work by Labour then.A good result then, loan repaid and an 82% stake in a major bank.
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