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happy_renting

Libdems Want To Give Taxpayers Bank Shares

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BBC News - Details are thin but a LibDem MP is proposing that taxpayers or all citizens should be given shares in the nationalised banks. When they are denationalised the profits can go to every citizen, rather than 'just people & institutions that can buy shares'.

The costs of this would be huge, and the cost of the bailout would have to be repaid to the Govt somehow.

What a hare-brained, populist, financially illiterate way of getting the public to jiz more money on iPods.

The funds from any sale should be used to reduce Govt. borrowing, reduce the deficit (or even the national debt if the flotation raises enough).

The LibDems' power-lite government work-experience exercise is exposing them as unfit to run even a whelk stall. The Tories must be tired of these muppets.

Edited by happy_renting

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What a twisted web they weave.

Jobs for the boys: Financial services sector, make money, on every transaction. Government makes more Capital GainsTax when those shares are sold. Income tax on bank accounts.

The morality angle: This allows the government to bring everybody into the ponzi scheme. We all become partners in the biggest fraud and crime in history. We are all accountable.

Maybe they hope this meagre pittence of a bribe will silence those voices of opposition, [the Priced Out for instance] who constantly badger the government over the lack of accountability, and morality of the governments [fascist] actions.

[so we, the proles get a few hundred pounds in shares, whilst politicians have made hundreds of thousands of pounds in personal profits, under a corrupt secret expenses system, voting on policies to inflate the housing bubble. They ARE the Thieves.]

Instead of giving away Lloyds shares to everyone, indiscriminatly, the government could have sought to redress the balance in the housing market, the vast yawning chasm which exists, between those who own property and those who do not.

[Considering the staggering threefold increase in house prices over ten years, because of undisputed blatant fraud and theft.]

Im going to refuse to accept the shares.

F@@k the tories Lib Dems and Labour. I aint sellin out so cheaply.

You are no better than common thieves. Incompetent Lying scum. Neo Corporatists. Economic Fascists.

Edited by Dan1

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^^^^ this was my throught, £10 per share transaction x 30m adults = free money for banks + all the set up costs

If it did not mean a prison sentence, I would have burned down my local MP's house's, and attacked certain local banks. Im sure there are millions in this country who would have approved. And feel the same way. And we would have been absolutely right to do so.

Edited by Dan1

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http://www.telegraph.co.uk/news/politics/nick-clegg/8593363/Give-voters-shares-in-bailed-out-banks-says-Nick-Clegg.html

The plans propose that ordinary voters would be able to profit from any increase in the value of their shares once the Treasury has recouped taxpayers’ money used for the bail-out.

Considering the Treasury overpaid for these shares that could be a long way off yet before anyone sells these shares at a profit.

Edited by interestrateripoff

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From what I understand it is not entirely a gift....it is a ploy to spread the risk over many smaller deals, this will help to protect the governments interest and hopefully give something back. A set price to be determined say for example 70p that will have to be paid back to the government when sold and the taxpayer will keep any difference over and above that price....so if the set price is not achieved a profit cannot be made. ;)

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Lloyds now owns over 33% of the UK's residential mortgages.

[including those Acquired from HBOS. A breach of monopolies commissions rules.]

[up to 80% were liar loans. According to whistleblowers like Paul Moore.Although we do not know the LTV of those properties. Mortgage fraud was endemic at HBOS, under king of the liar loans, Sir James Crosby. Who Brown knighted for services to banking.]

So the mark to market valuation of Lloyds mortgage book is a complete Fallacy.

Yet UK taxpayers who do not own property, are having their money STOLEN to recapitalise banks like Lloyds via the bailouts. Paying to keep everyone elses property massively overinflated, against all historic measures of affordability.

In the USA the banks are withholding houses from the market. Just Sitting on them.

Or Drip feeding them into the market.

Over here, the same thing is happening.

UK banks, like Lloyds are placing undisclosed reserves on repossessed properties, ensuring they do not sell at auction.

While the banks keep hold of properties at reserve prices which nobody will pay, the Banks themselves can keep generating fictitous bonuses on Falsified "profits" instead of writing down losses!!

Thereby continue paying themselves tens of million's in Bonuses!!

Based upon False Accounting.

STOLEN from joe taxpayer.

ITS Fraud and THEFT.

Plain and Simple.

Blatant False accounting and fraud, which is aided and abetted by our corrupt government.

Who are willing partners

Its Price Fixing.And its happening right out in the open."We are all powerful. The normal rules do not apply to us", says Merv and the government.

'****** your Democracy' The Fascists say.

So Bankers are paying themselves vast bonuses, based upon fake 'mark to market' valuations.

Rather than selling at the true market value, many banks, both here and inthe USA are reporting the original price that was paid, [say circa 2006 peak price] as the current value on the balance sheets, when clearly it is not.

And they are paid huge bonuses, on these imaginery fake portfolio's.

It shows our 'plutocratic' government and banking system for what it is. Completely corrupt. Downright evil in fact.

It's blatant economic fascism.

So our taxes are being stolen to pay to keep everyone else's property, or the banks assets massively overinflated against all historic measures of affordability, whilst ensuring we can never afford our own 'Private Property' and must continue working for nothing.

No Capital?

When we've already been forced to waste tens upon tens of thousands in rent, as house prices were purposefully manipulated to rise via fraud, year after year?

You gotta absolutely hate this twisted fascist United Kingdom.

Edited by Dan1

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From what I understand it is not entirely a gift....it is a ploy to spread the risk over many smaller deals, this will help to protect the governments interest and hopefully give something back. A set price to be determined say for example 70p that will have to be paid back to the government when sold and the taxpayer will keep any difference over and above that price....so if the set price is not achieved a profit cannot be made. ;)

Share Price today.....46p (-2.1% so far). There's a lot of really angry posters on the forums; people who have bought in at 60p and stuck on a spike.

But, look at this:....

The shareholders of Lloyds Banking Group PLC (LSE: LLOY) authorized a share repurchase program at its Annual General Meeting on May 18, 2011. Under the company will repurchase up to 6,815,540,607 shares, representing 10% of its issued share capital. The minimum price which may be paid for each ordinary share shall be 10p. The maximum price, exclusive of expenses, which may be paid for each ordinary share shall be an amount equal to the higher of either, 105% of the average of the closing price of the company’s ordinary shares as derived from the London Stock Exchange Daily Official List for 5 London business days immediately preceding the day on which such share is contracted to be purchased, or the higher of the price of the last independent trade and the highest current bid as stipulated by Article 5(1) of Commission Regulation (EC) December, 22 2003 implementing the Market Abuse Directive as regards exemptions for buy-back programs and stabilization of financial instruments (No 2273/2003). The plan shall expire at the conclusion of the next Annual General Meeting or on June 30, 2012, whichever is the earlier, unless such authority is renewed before then. As of June 2, 2011, no repurchases were made.

So, lets push down the price with rumours of a give-away, then buy back!

These Banks really do need sorting out..........they are taking the piiss out of us all.

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Such a stupid idea. If it were to happen I think they should pay it back proportionately to those paying tax.. it's funny how people are happy for the top 1% of earners to pay 40% of the tax take..but I bet the public wouldn't be happy to see those same 1% get 40% of the RBS payout.

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Such a stupid idea. If it were to happen I think they should pay it back proportionately to those paying tax.. it's funny how people are happy for the top 1% of earners to pay 40% of the tax take..but I bet the public wouldn't be happy to see those same 1% get 40% of the RBS payout.

Good point....

Makes a lot of sense.

Unfortunately, stupid, lazy, unemployed retards will be given your shares, because some libcommie diversity officer will start talking about their rights.

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From what I understand it is not entirely a gift....it is a ploy to spread the risk over many smaller deals, this will help to protect the governments interest and hopefully give something back. A set price to be determined say for example 70p that will have to be paid back to the government when sold and the taxpayer will keep any difference over and above that price....so if the set price is not achieved a profit cannot be made. ;)

Like previous "privatisations" they will just get hoovered up by the slick suited snake oil salemen in the City, who f*cked up the economy last time round and are now dependent on "benefits."

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1.] If it were to happen I think they should pay it back proportionately to those paying tax.

2. it's funny how people are happy for the top 1% of earners to pay 40% of the tax take..but I bet the public wouldn't be happy to see those same 1% get 40% of the RBS payout.

1.] The Government should have concentrated on decreasing the gap between those who own property and those who do not. [Which would have been relatively easy for them to do.]

2.] I disagree. The Tax system in this country is crooked and is designed to keep the rich, rich. [And you and I, in debt slavery.]

Fred Harrison on Ricardos Law- House Prices and The Great Tax Clawback SCAM.

Edited by Dan1

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NEO CORPORATISM, The banking industry, the housing market or THE PLANNED ECONOMY:

In the Planned economy. [Housing Market]

The government controls and dictates production, distribution, prices, etc.

They Compel.

The Planned economy, is a direct contrast to the democratic model, of the 'Free Market Economy'

[The housing 'market' is a misnomer, as it is not a 'market', by any definitive measure.]

Neo-corporatism [or New Fascism] is a modern version of state corporatism which emerged in the late 19th century in authoritarian systems and had several manifestations in the first half of the 20th century.

In Adolf Hitler's Germany and Franco's Spain. Neo-corporatism is the opposing tendency (even polemically) to neo-liberalism.Early concepts of corporatism have been traced back to ideas found in Fascist Italy, Nazi Germany.

The essence of the theory is that major industrial institutions, and especially corporations, have now entered into a very close alliancewith the state, especially with the civil service.

Instead of the state controlling and organizing industry as though the [unelected] corporations were passive, they are seen as being necessary partners.

One of the most prominent forms of corporatism is a tripartite system, involving negotiations between business, labour, and state interest groups to set economic policy. A method preferred by italian fascist groups. [and new Labour funnily enough]

The implication for those who use the idea as a criticism of modernpolitical systems is that the spirit of Italian fascism, where industry was directly represented in a legislative chamber, is rising again, or has occured, with the state becoming no more than a servant to sectional industrial interests

.i.e. THE BANKING INDUSTRY

"Fascism should more properly be called corporatism because it is the merger of state and corporate power." Benito Mussolini

----------------------------------------------------------------------

It takes a crisis to show that all political philosophies, are reduced to the

lowest common denominator.By mutual consent, all Political Parties are corrupt. Because Money [Or a criminally mis-used fractional reserve banking system] corrupts all politicial philosophies.This is the best description, of the people in charge of our Country.

The Tories, Liberal Democrats, New Labour are all best described, by their own actions, as NEO CORPORATISTS.

Edited by Dan1

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Like previous "privatisations" they will just get hoovered up by the slick suited snake oil salemen in the City, who f*cked up the economy last time round and are now dependent on "benefits."

...all our major utilities that were distributed in shares to the people are mainly now in foreign hands....hanson is one that comes to light....the little investors who wanted to buy a small share in ownership of their countries major important businesses were forced to sell their tiny share to the big boys....the rest is history. ;)

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Of course the real winners will be the stockbrokers.As soon as their shares are showing sufficient profit for a few lagers and a kebab 50% of the population will shout "SELL,SELL,SELL"

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On the other hand presumably if everyone has shares then everyone can vote as a shareholder, which with a bit of luck might make the overpaid parasitic troughers at the top slightly worried.

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It's classic soft-left: an idea with an element of sense to it, but not thought through.

The taxpayer funded the bailout, so give the assets to the taxpayer.

Trouble is, it seems to miss out the next generation, too young to qualify for giveaways but not too young to pay for bailouts. Like so many goodies, from council houses to today's (or, to get the full benefit, pre-equitable-collapse) pensions.

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Of course the real winners will be the stockbrokers.As soon as their shares are showing sufficient profit for a few lagers and a kebab 50% of the population will shout "SELL,SELL,SELL"

The price of the shares might get nicely depressed on actions such as this, making a good buying opportunity.

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Of course the real winners will be the stockbrokers.As soon as their shares are showing sufficient profit for a few lagers and a kebab 50% of the population will shout "SELL,SELL,SELL"

I thought most holders of demutualisation giveaways held right through the lifetime of Northern Rock, B&B, etc?

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Lloyds now owns over 33% of the UK's residential mortgages.

[including those Acquired from HBOS. A breach of monopolies commissions rules.]

[up to 80% were liar loans. According to whistleblowers like Paul Moore.Although we do not know the LTV of those properties. Mortgage fraud was endemic at HBOS, under king of the liar loans, Sir James Crosby. Who Brown knighted for services to banking.]

So the mark to market valuation of Lloyds mortgage book is a complete Fallacy.

Yet UK taxpayers who do not own property, are having their money STOLEN to recapitalise banks like Lloyds via the bailouts. Paying to keep everyone elses property massively overinflated, against all historic measures of affordability.

In the USA the banks are withholding houses from the market. Just Sitting on them.

Or Drip feeding them into the market.

Over here, the same thing is happening.

UK banks, like Lloyds are placing undisclosed reserves on repossessed properties, ensuring they do not sell at auction.

While the banks keep hold of properties at reserve prices which nobody will pay, the Banks themselves can keep generating fictitous bonuses on Falsified "profits" instead of writing down losses!!

Thereby continue paying themselves tens of million's in Bonuses!!

Based upon False Accounting.

STOLEN from joe taxpayer.

ITS Fraud and THEFT.

Plain and Simple.

Blatant False accounting and fraud, which is aided and abetted by our corrupt government.

Who are willing partners

Its Price Fixing.And its happening right out in the open."We are all powerful. The normal rules do not apply to us", says Merv and the government.

'****** your Democracy' The Fascists say.

So Bankers are paying themselves vast bonuses, based upon fake 'mark to market' valuations.

Rather than selling at the true market value, many banks, both here and inthe USA are reporting the original price that was paid, [say circa 2006 peak price] as the current value on the balance sheets, when clearly it is not.

And they are paid huge bonuses, on these imaginery fake portfolio's.

It shows our 'plutocratic' government and banking system for what it is. Completely corrupt. Downright evil in fact.

It's blatant economic fascism.

So our taxes are being stolen to pay to keep everyone else's property, or the banks assets massively overinflated against all historic measures of affordability, whilst ensuring we can never afford our own 'Private Property' and must continue working for nothing.

No Capital?

When we've already been forced to waste tens upon tens of thousands in rent, as house prices were purposefully manipulated to rise via fraud, year after year?

You gotta absolutely hate this twisted fascist United Kingdom.

A truly great post/rant Dan1.

We have a well known poster here who says that 'Liar Loans' were the main problem. Well I dont agree, and it looks like you dont either. Balance sheet fraud, that is where the problem lies. Why hasnt the government gone after the balance sheet fraudsters? Why no laws to make bank directors have unlimited liability (including all their pensions) for any losses suffered by the banks where they are directors in case of the need of government assistance?

And why hasnt Crosby's role in all of this been looked at by the Police? And what about the Lloyds takeover of HBOS with no due diligence, of a bank that they must have known was a fraud and bust? It beggers belief sometimes.

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We have a well known poster here who says that 'Liar Loans' were the main problem. Well I dont agree, and it looks like you dont either.

Balance sheet fraud, that is where the problem lies.

Why hasnt the government gone after the balance sheet fraudsters? Why no laws to make bank directors have unlimited liability (including all their pensions) for any losses suffered by the banks where they are directors in case of the need of government assistance?

And why hasnt Crosby's role in all of this been looked at by the Police? And what about the Lloyds takeover of HBOS with no due diligence, of a bank that they must have known was a fraud and bust? It beggers belief sometimes.

Balance Sheet fraud/Liar Loans, two sides of the same coin IMO.

I agree with what you are saying.

Its systemic fraud and theft. You may as well ask If MP's are serious about accountability, why dont they call in the Serious Fraud office, and investigate the banks for perpetuating the biggest mortgage fraud in history?

And themselves, the Ministers, who were voting on policies to inflate, and keep inflated, the biggest housing bubble in history, whilst all the time, making hundreds of thousands in personal profits, under a secret expenses system, with second homes, funded by the taxpayer?

Or the ratings agencies for rating those properties, which were wrapped in CDO's as AAA?

Or the FSA for not challenging banks on whether they should be growing so fast in the mortgage market, or loading themselves up with collateralised debt obligations manufactured from toxic subprime loans, or funding themselves to an ever-increasing extent from the sale of mortgage-backed securities?

Or the liar loan landlords, who earned £10k per year, yet were allowed to borrow enough to buy hundreds of properties?

Or Gordon Brown, for organising the shotgun wedding between HBOS, and Lloyds? [where according to whistleblowers like Paul Moore, up to 80% of mortagage loans, made at HBOS, were so called liar loans. Yet the banks refuse to release the LTV of those properties.] Or the former boss of HBOS Sir James Crosby, knighted by Brown, and made chairman of the FSA?

Or the monopolies commisions for bowing to the crooked Prime Minister.

Or the RICS valuers, who did 'drive by' valuations of properties.

Or the mortgage brokers who encouraged people to state a higher level of income that they actually earned, and faked documents.

Or any of the other multi millionaire's who were mis-selling risk, who are implicated in this? And walked away with pensions in the tens of millions?

[Or the advertising standards authority, who allowed ramping of property for years, in the media, whose largest revenue stream was coming from property adverts. Or the taxpayer funded BBC, who have thousands of executives earning six figure salaries, who pushed property porn programmes, whilst buying BTL.]

Quis custodiet ipsos custodes?

Welcome to Corrupt Fascist Plutocratic Corporatist Britain.

Where No-one's held accountable and the innocent are punished................................

Malum In Se

Edited by Dan1

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  • 312 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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