crash2006 Posted January 16, 2009 Share Posted January 16, 2009 The major users of the toxic bank will include Royal Bank of Scotland, in which the Government already has a 60 per cent holding. RBS is understood to have been forced to write off a £2.5 billion loan to a Russian oligarch. As he finalises the details of the rescue plan with the Treasury, Gordon Brown will this weekend attack the "irresponsible" lending of British banks to foreign nationals and overseas companies. City sources said last night that the talks over the setting up of a bad bank were "highly complex" and that there was still strong opposition among banks to the Government enforcing a compulsory seizure of their assets. http://www.telegraph.co.uk/finance/newsbys...m-bad-debt.html well next move increase taxes Quote Link to comment Share on other sites More sharing options...
lufc Posted January 17, 2009 Share Posted January 17, 2009 Besides the QE bit anyone got any ideas where this £200 bn comes from ????? Quote Link to comment Share on other sites More sharing options...
crash2006 Posted January 17, 2009 Author Share Posted January 17, 2009 Besides the QE bit anyone got any ideas where this £200 bn comes from ????? Your pocket i guess, however just had a bath an was thinking, even if it all works out, wages need to rise, i just can't see people buying property looking at wage ratios. Quote Link to comment Share on other sites More sharing options...
godless Posted January 17, 2009 Share Posted January 17, 2009 New independent form of currency anyone???? How about the shells of nuts engraved with various phrases, each having a designated value. Its turning nasty! Quote Link to comment Share on other sites More sharing options...
BXLONDONMAN Posted January 17, 2009 Share Posted January 17, 2009 Besides the QE bit anyone got any ideas where this £200 bn comes from ????? that's the only place it can come from QE their is nowhere else they can get it from now,no one will lend them the money now...!! Quote Link to comment Share on other sites More sharing options...
Dave Spart Posted January 17, 2009 Share Posted January 17, 2009 Besides the QE bit anyone got any ideas where this £200 bn comes from ????? Brown's been moonlighting on a paper-round. Quote Link to comment Share on other sites More sharing options...
Dave Spart Posted January 17, 2009 Share Posted January 17, 2009 Lets see now: (1) banks bailed out another £200bn for wrecking the economy; (2) elderly man dies of shock when bailiffs march him to ATM to pay £60 speeding fine he forgot having suffered a stroke. Yep, sounds perfuctly reasonable to me. NOT. Quote Link to comment Share on other sites More sharing options...
MRMX9 Posted January 17, 2009 Share Posted January 17, 2009 Besides the QE bit anyone got any ideas where this £200 bn comes from ????? Presumably they are going to shut all the UK's schools for 8 years - this bailout amounts to the same in monetary terms. Scary isn't it! Quote Link to comment Share on other sites More sharing options...
Dave Spart Posted January 17, 2009 Share Posted January 17, 2009 £200bn To Save Banks From Bad Debt More importantly, Big Brother 'sex pest' Coolio has been grabbing hold of Mutya. Quote Link to comment Share on other sites More sharing options...
the_austrian Posted January 17, 2009 Share Posted January 17, 2009 Besides the QE bit anyone got any ideas where this £200 bn comes from ????? People will keep buying Government debt because they have a photocopier. It is the same as printing money. Presumably they are going to shut all the UK's schools for 8 years - this bailout amounts to the same in monetary terms.Scary isn't it! I'd say the money supply is over £3,000bn so it's still less than 7%... They will need to print more than that. Quote Link to comment Share on other sites More sharing options...
lotus7 Posted January 17, 2009 Share Posted January 17, 2009 200 billion divided by a population of 60 million means every man, woman and child in this country is giving the banks £ 3,333 each. Imagine what that level of investment would do for manufacturing. Quote Link to comment Share on other sites More sharing options...
clubberdude Posted January 17, 2009 Share Posted January 17, 2009 (edited) 200 billion divided by a population of 60 million meansevery man, woman and child in this country is giving the banks £ 3,333 each. Imagine what that level of investment would do for manufacturing. Its disgusting, isn't it. I'd far rather set it alight than give it to banks, but alas, theres no option. Still, look at the positives. Hopefully this will be the thing that causes NuLabour to unravel, and Gordon Brown to resign. Now I just wished the Conservatives and Liberal Democrats would apply more pressure. Edited January 17, 2009 by clubberdude Quote Link to comment Share on other sites More sharing options...
ccc Posted January 17, 2009 Share Posted January 17, 2009 "Gordon Brown will this weekend attack the "irresponsible" lending of British banks to foreign nationals and overseas companies." This guy is shameless/mental and must be stopped. So lending to British 'hard working homeowners' and businesses is responsible and doing it for dastardly 'foreigners' is not ? Does this guy really think all these issues have nothing to do with the UK ? I truly think he is clinically insane. Quote Link to comment Share on other sites More sharing options...
Giordano Bruno Posted January 17, 2009 Share Posted January 17, 2009 200 billion divided by a population of 60 million meansevery man, woman and child in this country is giving the banks £ 3,333 each. Or the government is giving it on your behalf. It's only money! Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 17, 2009 Share Posted January 17, 2009 "Gordon Brown will this weekend attack the "irresponsible" lending of British banks to foreign nationals and overseas companies."This guy is shameless/mental and must be stopped. So lending to British 'hard working homeowners' and businesses is responsible and doing it for dastardly 'foreigners' is not ? Does this guy really think all these issues have nothing to do with the UK ? I truly think he is clinically insane. He'll be even more angry and will need a jaw reset when these same foreigners stop lending to prop up our banks, and dont buy 110bn of gilts he wants to raise this year. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted January 17, 2009 Share Posted January 17, 2009 As he finalises the details of the rescue plan with the Treasury, Gordon Brown will this weekend attack the "irresponsible" lending of British banks to foreign nationals and overseas companies. Again we get the on message spin that none of this is down to the UK, it's amazing the press aren't all over him on this. The labour party spin doctors must be tried for treason. Nothing is this mans fault yet amazingly when the growth was happening it was ALL DOWN TO HIM. He'll be even more angry and will need a jaw reset when these same foreigners stop lending to prop up our banks, and dont buy 110bn of gilts he wants to raise this year. You do get the impression this will all turn out to be empty promises because the only way Ponzi Brown is going to get this money is print it out of thin air and get the BoE to buy the gilts, no one else has the money. Brown is completely insane. Quote Link to comment Share on other sites More sharing options...
deadman Posted January 17, 2009 Share Posted January 17, 2009 "Gordon Brown will this weekend attack the "irresponsible" lending of British banks to foreign nationals and overseas companies."This guy is shameless/mental and must be stopped. So lending to British 'hard working homeowners' and businesses is responsible and doing it for dastardly 'foreigners' is not ? Does this guy really think all these issues have nothing to do with the UK ? I truly think he is clinically insane. Johnny foreigner doesn't provide the votes. Quote Link to comment Share on other sites More sharing options...
ccc Posted January 17, 2009 Share Posted January 17, 2009 Johnny foreigner doesn't provide the votes. Indeed. I think the British public are belatedly starting to see through this great Broon 'wealth' scam. Bloo Loo - don't worry about those pesky foreigners turning down our bonds/Gilts !! Broon has of course thought of this. The man is a genius after all. He did save the World. Did you miss that ? Wake up !! He will simply print the stuff instead. Whatever could go wrong....... Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted January 17, 2009 Share Posted January 17, 2009 erm 2.5bn loan to Russian Oligarch to be written off? wtf how can the telegraph just slip that in? This toxic bank going to contain all the debts that overseas(art mentions 80% bad debt at some banks to foreign companies or individuals) investors can't pay back. 200bn aint going to last long. 2.5bn gone already on 1 loan to 1 individual Quote Link to comment Share on other sites More sharing options...
Errol Posted January 17, 2009 Share Posted January 17, 2009 Get ready for sterling to plummet. Quote Link to comment Share on other sites More sharing options...
LuckyOne Posted January 17, 2009 Share Posted January 17, 2009 He'll be even more angry and will need a jaw reset when these same foreigners stop lending to prop up our banks, and dont buy 110bn of gilts he wants to raise this year. Bang on. This populist attack on foreign lending by British banks raises the risks of unintended consequences : 1. As you suggest, we are reliant on foreign funding of our massive and growing government debt. 2. As you suggest, we are reliant on foreign funding of the capital shortfalls and debt requirements of our banks. 3. HSBC, RBS (especially through their ABN acquisition), Barclays and Standard Chartered all have massive offshore networks. Withdrwaing now would probably be at a loss which will further erode their capital bases. 4. The reason that the recession of 1929 to 1932 turned into the depression of 1929 to 1939 was the fact that trade barriers were raised. We now rely on the free flow of both goods and capital to sustain our economies. Raising financial protectionist barriers is just repeating past mistakes with protectionism with regard to the trade of goods. Gordon has gone from saving the world to destroying the world if his latest efforts become popular globally and every government decides to isolate and insulate their financial systems. Getting some cheap votes at great cost to the economy does seem to be a recurring theme with this government. Quote Link to comment Share on other sites More sharing options...
hev Posted January 17, 2009 Share Posted January 17, 2009 I am getting more and more concerned over the future of the NHS and education, where is the money going to come from if the banks have had it all? There is going to be serious cut back on these services and private medical insurers will surely collapse? Council tax will obviously increase to such a degree that it will equate to a mortgage repayment value, and how on earth is this system going to cope with housing benefits etc? With so many out of work those paying will be compensating for those who cant. It's getting seriously scary but I guess I should go outand get that flat screen TV as the lunatic in charge is telling me to spend. It is seriously beyond belief now Quote Link to comment Share on other sites More sharing options...
LuckyOne Posted January 17, 2009 Share Posted January 17, 2009 (edited) http://uk.youtube.com/watch?v=JPQ_T_ncZRY&...re=channel_page SOD could you please SOD OFF with the gratuitous and irrelevant Bruno links. We know how to find them if we are at all interested in watching them ....... Edited January 17, 2009 by LuckyOne Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted January 17, 2009 Share Posted January 17, 2009 Just to put the figure in context of UK receipts and expenditure budgetted for 2008/2009, for those not up to speed: Public Spending Breakdown : Receipts and expenditure Quote Link to comment Share on other sites More sharing options...
ccc Posted January 17, 2009 Share Posted January 17, 2009 Just to put the figure in context of UK receipts and expenditure budgetted for 2008/2009, for those not up to speed:Public Spending Breakdown : Receipts and expenditure Interesting and scary graph. Income tax doesn't even cover 'Social Protection' which I assume covers pensions/benefits etc.. More worryingly - National Insurance doesn't even cover NHS expenditure, never mind the pension contributions that I allegedally get in 35 years. Quote Link to comment Share on other sites More sharing options...
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