Saturday, Nov 29, 2008
Nice
The Telegraph: Taxpayer left with £2.4bn paper loss in RBS takeover
"Existing shareholders in RBS shunned the fundraising by what had been Britain's second-biggest bank until the credit crunch struck last year, leaving the taxpayer with 57.9% of the bank - and a £2.4bn loss on the basis of the current share price.".........so what happens if the share price falls further?
Posted by titaniccaptain @ 10:57 AM (584 views) Add Comment
10 Comments
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1. paul said...
There still seems to be the view in government that somehow the whole housing market and its creditors have been unjustly targeted and are basically being erroneously undervalued right now.
This is how the government is justifying taking on these massive losses (sometimes without making parliament or the people know about the extent of the losses as with Northern Rock) and then go on to forecast ra return to profit at some unspecified date in the future.
The government is as much in denial about housing as grumpy homeowners.
2. planning4acrash said...
Its ok if I loose this on my say so, but there should be a UK Constitution that does not allow them to take a hit on our head on their watch. A total disgrace. We may as well be subjects to the king and queen, absolutely no say so.
3. titaniccaptain said...
I flitter from believing that this all part of some master plan orchestrated by an evil elite to this is all part of the greatest financial c#ck up in history created by utter fools.........
4. phdinbubbles said...
TC
I'd go with the latter myself. Real conspiracies usually occur when authorities lie to us and deceive us after the c0ck-up - apportioning blame after the event. They usually then 'demonstrate' how they are taking control of the situation, with their 'unique leadership skills', and increase their own standing even though the damage was caused by them in the first place. It's something I've seen so many times in my experience of life - where the person responsible for the huge c0ck-up actually increases their grip on power over the wreckage of the organisation they've just help to damage. This then carries on until the point where the damage becomes so great that they have to move on because nobody believes them any more - usually by being posted sideways to another organisation they can then wreck. If Gordo applies for a job as PM of another Country would you give him a good reference just to be rid of him?
Same old story - I've seen it too many times before.
5. titaniccaptain said...
@Phd
I see what your saying and that computes nicely but...............I have had a passing interest in conspiricy theories for a long time and my dilema is this..........There were alot of people out there screaming that this would happen years ago and im not talking about someone standing up and shouting "The financial system will fall" but individuals who have seen the current meltdown and foresaw each step of the meltdown..........yes there have been some way out predictions and beliefs that have denegrade the real hard work and research that other individuals have done.......Do I believe in UFOs and lizard people?...........no...........but I have been reading material on this meltdown, the banking collapse, the housing bubble and the time when it would all unfold (Now) etc. for over 20 years...........so if they foresaw this then what about the other observations they made?..........i.e. about a global elite being behind it............
I want my mummy this is all to scary and it hurts my brain.....now where is my mug of hot milk and honey and my harry potter PJs
Im off to meet to get drunk
6. malct said...
tc hope the meet goes well (no tasers)
re paper money
"This economic crisis provides us with some important lessons: World economy has been run for the last twenty years (and made a lot of progress) using no “real money”, just inherently worthless IOUs of paper dollars, promissory notes and bonds. The money we use is “monopoly money”, play money – and it still works! We should demystify money, understand that it has no real substance, that it is just a provisional device that may help accountants, and serve as measure of investments, but not the final measure of everything. The world can take the next step, and switch to issuance of some future zero-interest free-credit money, which will not enrich one group of people at the expense of another. Such money was used in Soviet Russia with great success, until the party nomenclature swapped it for the US dollars, reaping immense profits for themselves and leaving the rest of the public penniless. Now, the US nomenclature has decided to use the example of the Russian oligarchs and rip off the US public. But we may use the new knowledge: market model had “won” its competition against the socialist model only because of fraudulent banksters. "
7. mark wadsworth said...
It's not a proper conspiracy, because it's not particularly secret and we know who all the alleged co-conspirators are, neither is the plan working, unless it is indeed a Communist plan to completely wreck western economies, in which case it is succeeding.
8. I'm Alan Partridge said...
@ tc 11:59, my conclusion exactly. The jury has been out now for a long time, when will we get the verdict?
9. planning4acrash said...
The plan is in IMF documents. Financial Times stated a while back that the derivatives bubble was engineered to buy up the world, but was being pulled, beginning with sub prime coz it had gotten out of control. I hope that's the case,
10. plato said...
Mentioned by s2r1 the other day :
Apocalypse (Greek: Ἀποκάλυψις Apokálypsis; "lifting of the veil") is a term applied to the disclosure to certain privileged persons of something hidden from the majority of humankind.
This for me is extremely relevant. The true meaning and the reason for a small section of people made aware. The mystery is why and how? These questions take us somewhere into something we can't explain but somehow are influenced by.
The real meaning is also that the majority will never be aware.