Friday, Apr 18, 2008
Desperate??????
The Times: Royal Bank of Scotland may auction Direct Line and Churchill to raise cash
Royal Bank of Scotland is this weekend mulling the option of selling its Direct Line insurance business in an effort to sweeten investors furious about a mammoth planned capital-raising of as much as £13 billion.
Posted by titaniccaptain @ 11:42 PM (465 views) Add Comment
10 Comments
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1. titaniccaptain said...
Fee Fi Fo Fum I smell another northern rock
2. Compounded said...
And we havent got a negative on the yearly figs yet - how bad is this going to get??????????
3. Tuggyman said...
Excellent find.
If money, being 'given' from BoE is to improve lending and make up the shortfall in banks abiltiy to lend, then why sell these companies?
4. samone said...
oohh yes!
5. lvmreader said...
I guess Sir Fred shouldn't have bought ABN and then raised his dividend 10% month week claiming RBS was all ok.
Some people could say that either this makes him a world class liar or a world class moron.
Or maybe it was his advisers doing too many hookers and lines.
6. the northerner living in oz said...
Do not get carried away
It seems to me that they are facing up to their problems and making attempts to prevent the banks failure.
If they can pull it off this could be a template to solve the banking crisis.
share holder / Investor bailout is far better than tax payer bail out.
Surely it is the banks that are in denial & doing nothing that is the most likely to fail.
7. indiablue19 said...
These boys are Scottish. Read: survivors. Having lived there for a few years and observed the species, suffice it to say I've seen them eat road kill and never turn a hair. Tight as a duck's nether parts. They are planning ahead no doubt for the lean times. It may not be pretty but I'll take a bet that they're still standing on the other side, if anybody is.
8. Fed Up said...
RBS is just getting in before other banks have to do the same.
9. Orwell said...
Amazing!
I thnik someone did say that it was only a matter of time before a big bank went down. I wonder whether this will be the first?
10. waiting for the crash said...
Remember they own Natwest. It probably isnt the scottish business thats in trouble - its probably the Natwest English bit!