Saturday, May 09, 2009
Deliberately provocative
The Times: RBS chief Stephen Hester wants taxpayer to bear greater share of potential losses
Royal Bank of Scotland (RBS) is pushing to sweeten the terms of a huge government insurance policy in an attempt to force taxpayers to shoulder a greater share of its potential losses on bad loans.
Posted by devo @ 10:43 PM (670 views) Add Comment
6 Comments
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1. devo said...
I wonder what it will be like when the banking system eventually collapses?
2. devo said...
Will there be anarchy when the banking system collapses?
If so, what will it look like?
3. devo said...
Imagine the yoke of debt being lifted forever. I feel liberated just thinking about it.
4. Beartil2010 said...
That does sound and feel liberating... but it means at the same time that people who run and administrate things would actually have to take some responsibility and deliver some value, instead of being able to borrow and spend more every time they screw up. There are too many powerful vested interests who are incompetent to have an actual fair system in place :-(
5. Desperatedan said...
Government Sponsored Theft.
I have no money.My business is crippled.
European Manufacturers have frozen spending. [What does it matter if UK based business finds it easier to borrow from Banks again, when all the manufacturers are based in France and Germany?!]
The Banks losses are mainly because of reckless lending, leading to Toxic mortgage debt.
In effect the banks are being allowed, by Labour to transfer that debt onto me, and allowing people on trackers, to stay in £400k houses for as little as 1pence per month, because of low IR.
Im still trying to support my family, without work, and find £700pcm rent.[Without signing on.]
The government and Banks are stealing my money to give it to somone who recklessly borrowed huge unsustainable sums to buy a house. Labour supported, encouraged and are now rewarding incompetence.
By stealing from me.
You could not make this SH1t up. The Labour Government are the architects of this mess. Brown actively supported and encouraged this practice.
No difference between an armed robber coming into my house and stealing my money, or RBS, and the government doing it.
They have gone way too far.
My personal state of affairs is in a disastrous state, as well as not being able to afford a rabbit hutch for ten years, even though i earn average wage, and it is all the fault of the governmenet and the banksters.
6. happy mondays said...
Taxpayers to shoulder a greater share of its potential losses on bad loans. Why not, we shoulder just about everything else, inc MPs !
@1 = Messy
@2 = Yep and not look to good
@3 = That would be nice, but we have carried this and accepted this for thousands of years and more, so it will be hard for people to understand it is just a big con!
Now time for breakfast..