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gruffydd

Uk Government Strategy For Restoring Banks In Chaos As

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http://www.timesonline.co.uk/tol/comment/l...icle6731027.ece

John Kingman, the chief executive of UK Financial Investments (UKFI), announced yesterday that he would step down. UKFI is the body within the Treasury that manages the taxpayer’s stake in the partly or fully owned banks. Mr Kingman cited neither a reason nor a date for his departure, but his decision gives a political signal. The Government’s strategy for restoring the banking system to health is in a state of drift, if not outright chaos.

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http://www.timesonline.co.uk/tol/comment/l...icle6731027.ece

John Kingman, the chief executive of UK Financial Investments (UKFI), announced yesterday that he would step down. UKFI is the body within the Treasury that manages the taxpayer’s stake in the partly or fully owned banks. Mr Kingman cited neither a reason nor a date for his departure, but his decision gives a political signal. The Government’s strategy for restoring the banking system to health is in a state of drift, if not outright chaos.

Could be the new appointment as chairman? :ph34r:

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I read an article about Kingman a few weeks ago concerning his former role in the treasury, his role at UKFI now and how it was very likely things would come to blows between UKFI and the Brown's government in the near future over future strategy. I'm not particularly well read up on what caused him to resign and call me cynical if you wish but why would you agree to manage and oversee UKFI if in reality you have no real say in what happens, if you disagree with the governments wishes you are overruled. I read Kingman was a conservative treasurer so I assume he would have taken issue to the governments wishes for under capitalised banks, still with 10's of billions to write off, lending money they can not afford to lend at rates they can not afford to lend it at. The government are losing their grip and this is just another nail.....

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I read an article about Kingman a few weeks ago concerning his former role in the treasury, his role at UKFI now and how it was very likely things would come to blows between UKFI and the Brown's government in the near future over future strategy. I'm not particularly well read up on what caused him to resign and call me cynical if you wish but why would you agree to manage and oversee UKFI if in reality you have no real say in what happens, if you disagree with the governments wishes you are overruled. I read Kingman was a conservative treasurer so I assume he would have taken issue to the governments wishes for under capitalised banks, still with 10's of billions to write off, lending money they can not afford to lend at rates they can not afford to lend it at. The government are losing their grip and this is just another nail.....

Wecome John, you are among friends now

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Now he has done the City boys a favour by giving them loads of our cash he is off to get his rewards, non-job at the bank 10mill a year.

Either that or he believes that something catastrophic is about to happen, and wants to put clear blue water between himself and whatever he thinks is about to kick off.

Edited by The Ayatollah Bugheri

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What they've got to do is increase lending volume while shrinking their balance sheets.

They need to lend more to business but take less risks.

They need to repay the state bailouts but they must cut their margins.

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Now he has done the City boys a favour by giving them loads of our cash he is off to get his rewards, non-job at the bank 10mill a year.

http://www.telegraph.co.uk/finance/newsbys...ity-riches.html

John Kingman, 40, chief executive of UK Financial Investments (UKFI), has decided to end his career in public service for a lucrative job in the City. He is said to have already spoken to leading investment banks about his prospects, but has no offers lined up.

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