Government shows £11 bn profit on bank investments

[Rocksteadyeddie]

According to the ONS stats released this morning.

Any chance of the bank bashing abating do we think?

[bleesh]

Nice!!!

Where do I apply to get my share then, seeing as they used my money to bail the banks out???

[Rocksteadyeddie]

You got it my friend. In the form of lower taxes to finance the (now £11 bn lower) deficit.

[Mojooo]

So public sector management works?

[Oily Nails]

Mojooo said:

So public sector management works?

I hope you invested in Flame proof Y-fronts

[grumbledoak]

"Government profit"? FFS.

[Marf]

If RBS' share price were to return to early '07 levels, we could pretty much clear the deficit.

[hornetrider]

Marf said:

If RBS' share price were to return to early '07 levels, we could pretty much clear the deficit.

If my aunty had balls, guess who she'd be?

Though... I do actually agree with your point.

[Marf]

[Rocksteadyeddie]

Marf said:

If RBS' share price were to return to early '07 levels, we could pretty much clear the deficit.

If RBS share price were to return to early '07 levels, drinks would all be on me at DDs

[NoelWatson]

bleesh said:

Nice!!!

Where do I apply to get my share then, seeing as they used my money to bail the banks out???

Do you have a variable rate mortgage?

[Marf]

Rocksteadyeddie said:

Marf said:

If RBS' share price were to return to early '07 levels, we could pretty much clear the deficit.

If RBS share price were to return to early '07 levels, drinks would all be on me at DDs

Quoted for posterity

[Oily Nails]

Rocksteadyeddie said:

Marf said:

If RBS' share price were to return to early '07 levels, we could pretty much clear the deficit.

If RBS share price were to return to early '07 levels, drinks would all be on me at DDs

Quoted: Never say Never! Mines Guinness...and then a Bourbon later on

[Rocksteadyeddie]

Marf said:

Rocksteadyeddie said:

Marf said:

If RBS' share price were to return to early '07 levels, we could pretty much clear the deficit.

If RBS share price were to return to early '07 levels, drinks would all be on me at DDs

Quoted for posterity

I would be more than happy.

[D-Angle]

18 billions down, hundreds to go...

[Randy Winkman]

Pretty soon, we can pretend none of it ever happened.

[AJS-]

Rocksteadyeddie said:

According to the ONS stats released this morning.

Any chance of the bank bashing abating do we think?

Why would that be? Banks are supposed to make a profit without the government saving them.

I'm not a bank basher really, I just think they should have let them go to the wall and don't want the government playing the stock market on my behalf, profitable or not this time.

[Jasandjules]

hornetrider said:

If my aunty had balls, guess who she'd be?

Though... I do actually agree with your point.

Tessa Sanderson?

[Rocksteadyeddie]

AJS- said:

Rocksteadyeddie said:

According to the ONS stats released this morning.

Any chance of the bank bashing abating do we think?

Why would that be? Banks are supposed to make a profit without the government saving them.

I'm not a bank basher really, I just think they should have let them go to the wall and don't want the government playing the stock market on my behalf, profitable or not this time.

I think we can probably agree that it is not the role of government to be taking equity stakes in banks, or in any other business for that matter. Nevertheless, following the US administration's decision to allow Lehmans to collapse, the UK government really had no choice. To advocate otherwise is, frankly, to woefully misunderstand how a modern economy functions.

I was merely pointing out that these investments will turn a nice fat profit for us, the taxpayer, as the institutions are returned to health. In an era when we can do with every penny this is, surely, a good thing?

[Mattt]

Where does the 11bn come from? Is it the difference in value from when the Govt 'bought' to today's value?