This banking bailout, all Gordon's idea? NO!!
Discussion
It seems that a chap at Standard Chartered, Peter Sands, came up with the idea which Gordon is now taking credit (sorry) for!
http://www.telegraph.co.uk/finance/financetopics/f...
"The deal to inject £37bn into several banks, is very largely based on the original document written by Mr Sands and Mr Meddings, but with additional detail, sources said. However, the Standard Chartered team did not include a ban on dividends.
Sources said that stipulation was added by the Government, which was keen that taxpayers should not bailout some of Britain's banks without shareholders sharing the pain. The Government decided to include preference shares on which banks must pay a 12pc annual coupon, ensuring a return to the taxpayer."
http://www.telegraph.co.uk/finance/financetopics/f...
"The deal to inject £37bn into several banks, is very largely based on the original document written by Mr Sands and Mr Meddings, but with additional detail, sources said. However, the Standard Chartered team did not include a ban on dividends.
Sources said that stipulation was added by the Government, which was keen that taxpayers should not bailout some of Britain's banks without shareholders sharing the pain. The Government decided to include preference shares on which banks must pay a 12pc annual coupon, ensuring a return to the taxpayer."
Edited by mr_spock on Thursday 16th October 15:34
Great ideas have many fathers, bad ones are orphans, or something like that.
Senior politicians don't generally have time to think much. That's done by those who brief them.
Like most high level roles, it's the decisions which count.
Besides, it's too early to say whether this plan is a good one.
Senior politicians don't generally have time to think much. That's done by those who brief them.
Like most high level roles, it's the decisions which count.
Besides, it's too early to say whether this plan is a good one.
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