Wednesday, Jul 07, 2010
Could this be a forward indicator?
FT: RBS to sell off £3Bn of property loans
Interesting article but the last bit caught my eye "The disposal will be significant for the real estate market given the huge amounts of outstanding debt to the sector, and the worries about the need for aggressive action by the banks."
So, the banks need to get tough on the borrowers but they need to get rid of the poor loans first? Or am I reading in something that's not there? If RBS sells off enough rubbish the government can get rid of it (RBS) as well. Maybe my imagination going mad or maybe something here to see....
Posted by chrisch @ 10:09 AM (1414 views) Add Comment
8 Comments
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1. mark wadsworth said...
In case Techie drops in, here is the chart I promised him comparing FTSE 100 index and Nationwide Avg. House Price
2. Crunchy said...
Techie? Humbug!
Recap 'and short'
20% of Americans on food stamps now. Again..... "Hyperinflation food shortages." Goodbye USD.
Better a tinfoil hat than a D hat.
3. tom101 said...
What other predictions do you have Mr Crunch?
4. sureseam said...
There are UXBs (un exploded bombs) in the commercial real estate sector and they are trying to offload the problem to some of the bright people who think a recovery is in progress.
5. drewster said...
"Royal Bank of Scotland is preparing to sell up to £3bn ($5bn) of real estate loans made during the property boom in the largest property disposal from its non-core banking business to date."
Since when are real estate loans not part of a bank's core business?
Besides, if RBS were so clever, they wouldn't have collapsed in the first place. I don't consider their actions to be a "forward indicator" of anything.
6. tenyearstogetmymoneyback said...
And who will be daft enough to buy these unless they are offered at a huge discount ?
I thought it was their inability to sell on rubbish that caused RBSs problems in the first place.
If they were worth keeping they wouldn't be up for sale.
7. Crunchy said...
3. tom101 said...What other predictions do you have Mr Crunch?
Very high oil prices. Keep an eye on Iran and I won't be buying @ BP stations. Long story.
Oh, and lots more bees to die. They are what they eat. More exotic viruses too. That should keep you going for now.
Recaptcha.."all pyramid"
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