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RBS loses £28billion in a YEAR as Darling warns British economy will collapse if second bank bailout fails

Alistair Darling today warned the whole economy will collapse if his bailout of the banking system fails.

His admission came as Royal Bank of Scotland revealed it is facing losses of up to £28billion for last year, the biggest in UK corporate history.

Is this it? Are we moving to the Endgame?

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ROYAL BANK SCOT ORD 25P (RBS) 16.50 -18.20 -52.45% :blink:

Isn't it interesting that all was quiet and then pretty much as soon as the shorting ban expires then... RBS results with mind numbing losses.... couldn't have planned it better :unsure:;)

EDIT to add: OUCH

ROYAL BK SCOTL GR

(LSE: RBS.L)

Last Trade: 12.90

Trade Time: 8:54AM ET

Change: Down 21.80 (62.82%)

Prev Close: 34.70

Open: 34.50

Bid: 15.00

Ask: 12.40

1y Target Est: N/A

Day's Range: 12.70 - 34.90

52wk Range: 34.00 - 427.50

Volume: 321,391,072 :o

Avg Vol (3m): 96,899,200

Market Cap: N/A

P/E (ttm): N/A

EPS (ttm): N/A

Div & Yield: N/A (N/A

Edited by Bubble&Squeak

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Isn't it interesting that all was quiet and then pretty much as soon as the shorting ban expires then... RBS results with mind numbing losses.... couldn't have planned it better :unsure:;)

And the same bastards are still making huge profits from their insider trading, no doubt.

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Isn't it interesting that all was quiet and then pretty much as soon as the shorting ban expires then... RBS results with mind numbing losses.... couldn't have planned it better :unsure:;)

Shorting ban introduced 19/9. Shares rally 161p to 213p. Shorts are forced to stop, or even in cases buy the short positions back...the shares fall to 39p. Then shorting starts again on Friday.

I'd say that was er, conclusive proof..?.. that shorting was the problem, and that GB is a hero for banning the practice.

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And the same bastards are still making huge profits from their insider trading, no doubt.

I am sure everyone with inside knowledge was long gone before the first collapse. Only us taxpayers will be left holding this one, IMPO they are running it into the ground and going for 100% state ownership. Not sure what the EU will make of that though.

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How many more bailouts?

The public wont properly react until this feeds through to increased taxes.

...and when will that be? :unsure:

Post Election? Oh definitely! :lol:

Think you pay too much tax now? This is the best it'll ever get. :ph34r:

Let's hope Cameron has a back up plan!

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Shorting ban introduced 19/9. Shares rally 161p to 213p. Shorts are forced to stop, or even in cases buy the short positions back...the shares fall to 39p. Then shorting starts again on Friday.

I'd say that was er, conclusive proof..?.. that shorting was the problem, and that GB is a hero for banning the practice.

My point wasn't a comment on shorting or the merits of the ban, it was more a comment on timing and the intentions of those with access to the figures and power to ban ;)

The rest is left to your imagination :)

Edited by Bubble&Squeak

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My point wasn't a comment on shorting or the merits of the ban, it was more a comment on timing and the intentions of those with access to the figures and power to ban ;)

The rest is left to your imagination :)

Why aren't the media in general calling for the resignation of the government? Surely this unfolding disaster warrants it. (I am not saying that the other crowd would do any better mind).

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Guest sillybear2
Shorting ban introduced 19/9. Shares rally 161p to 213p. Shorts are forced to stop, or even in cases buy the short positions back...the shares fall to 39p. Then shorting starts again on Friday.

I'd say that was er, conclusive proof..?.. that shorting was the problem, and that GB is a hero for banning the practice.

Announcing the biggest loss in British corporate history and wiping out their own capital base in write downs has more to do with it.

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Why aren't the media in general calling for the resignation of the government? Surely this unfolding disaster warrants it. (I am not saying that the other crowd would do any better mind).

Because any or all of the following are generally true:

Very few understand what is going on

They read or take advice from very narrow sources of information

They have massive VIs

For example, I was listening to the tos$er on Five Live this morning trying to define quantitative easing... he couldn't, and he is meant to be their financial expert. :o:lol: (The same tos$er that presented the how to survive the downturn show on Sunday... seriously... utter fúckwits the lot of them)

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Why aren't the media in general calling for the resignation of the government? Surely this unfolding disaster warrants it. (I am not saying that the other crowd would do any better mind).

Only J.Public can do that. Stop paying the Council Tax and get out on the streets FFS!

Edited by dances with sheeple

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Isn't it interesting that all was quiet and then pretty much as soon as the shorting ban expires then... RBS results with mind numbing losses.... couldn't have planned it better :unsure:;)
If it was a good idea to impose the ban, which I think it was, then why lift it? I can think of no good reason, but I can think of a lot of bad reasons, such as VI and corruption, which have nothing to do with responsible government.

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Why aren't the media in general calling for the resignation of the government? Surely this unfolding disaster warrants it. (I am not saying that the other crowd would do any better mind).

Because this isn't a failure in governance, it's a systemic failure of a chronically ill financial system which discarded the goals of long-term stability and prosperity for all in favour of short-term enormous earnings for a few who have no interest in anything apart from their own pockets.

We put the world economy into the hands of drug, booze and caffeine fuelled sociopaths.

The stealthy dismantling of prudent financial oversight has been a gradual process and the blame for that cannot be solely laid at the door of the current incumbents at 10 and 11.

Ironically - and I take comfort from this - no amount of large holiday homes, yachts and Ferraris will be able to shield these stupid people (they may have starred firsts from Oxford or an MBA from Wharton but they're still stupid) from what they have wrought.

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Because this isn't a failure in governance, it's a systemic failure of a chronically ill financial system which discarded the goals of long-term stability and prosperity for all in favour of short-term enormous earnings for a few who have no interest in anything apart from their own pockets.

We put the world economy into the hands of drug, booze and caffeine fuelled sociopaths.

The stealthy dismantling of prudent financial oversight has been a gradual process and the blame for that cannot be solely laid at the door of the current incumbents at 10 and 11.

Ironically - and I take comfort from this - no amount of large holiday homes, yachts and Ferraris will be able to shield these stupid people (they may have starred firsts from Oxford or an MBA from Wharton but they're still stupid) from what they have wrought.

Indeed.

This is a systemic failure of a chronically ill financial system caused by a failure in governance and greed.

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How many more bailouts?

The public wont properly react until this feeds through to increased taxes.

Exactly right.

These bailouts are just so many random big numbers to Joe Public - until it affects them PERSONALLY they'll just ignore it.

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Exactly right.

These bailouts are just so many random big numbers to Joe Public - until it affects them PERSONALLY they'll just ignore it.

"Joe Public " will start paying higher taxes only after the next election.

By which time all the bailout decisions would have become irreversible.

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"Joe Public " will start paying higher taxes only after the next election.

By which time all the bailout decisions would have become irreversible.

And to my knowledge this country does not have an emergency mechanism to disband the parliament

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I am sure everyone with inside knowledge was long gone before the first collapse. Only us taxpayers will be left holding this one, IMPO they are running it into the ground and going for 100% state ownership. Not sure what the EU will make of that though.

Who gives a f*ck what them KKunts think?

they are just a set of spineless leaches, out to make as much personal cash as they can from their non jobs!

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Because this isn't a failure in governance, it's a systemic failure of a chronically ill financial system which discarded the goals of long-term stability and prosperity for all in favour of short-term enormous earnings for a few who have no interest in anything apart from their own pockets.

We put the world economy into the hands of drug, booze and caffeine fuelled sociopaths.

The stealthy dismantling of prudent financial oversight has been a gradual process and the blame for that cannot be solely laid at the door of the current incumbents at 10 and 11.

Ironically - and I take comfort from this - no amount of large holiday homes, yachts and Ferraris will be able to shield these stupid people (they may have starred firsts from Oxford or an MBA from Wharton but they're still stupid) from what they have wrought.

A process that started 25+ years ago, when the then Tory goverment paid heed to the collective moaning from the banksters that they were indeed 'financial grownups' who were in fact the most prudent people on the planet and could be trusted to the nth degree with the resposnibility that goes with free-range banking. The bad governance has of course continued to the current day, Labours failing, was of course, to not wind back the clock on banking deregulation. A Tory goverment would have been in the exact same position today if they had still been in power, as it is their ideological position to give the bankers what they want.

In fact all this goes back to a collection of US centric right wing think tanks back in the 70's who came up with the idea of never-ending money creation, firstly to get rich personaly, secondly to nail down the working person with a lifetime of debt (de-facto slavery). It seem they were very sucessful, and of course didnt give a monkeys **** about the fallout we are now experienceing.

Indeed.

This is a systemic failure of a chronically ill financial system caused by a failure in governance and greed.

as above.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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