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Which Bank Is Osborne Going To Let Fail?


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Would be political suicide to let RBS go. And if they wipe out the last 10% it will have to be included in govt debt, so that won't happen. No idea why RBS have been expanding so much since the crash. I know a lot of people who have gone there in the last couple of years (on good salaries)

Lloyds looks too exposed to any kind of housing downturn. I expect a govt bailout. Maybe to 90% like RBS.

The big building societies and HSBC look strong to me.

Which leaves Barclays

Edited by 57percent
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Who the hell is Osborne?

http://en.wikipedia.org/wiki/George_Osborne

George Osborne Oliver Osborne

Originally named Osborne Oliver,[2] he changed his name to George when he was 13

Incidently , Osborne or Gedeon (Hebrew: גִּדְעוֹן, Modern Gid'on Tiberian Giḏʻôn), which means "Destroyer," "Mighty warrior," or "Feller (of trees)" - http://en.wikipedia.org/wiki/Osborne.

Very apt Im sure.

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Why would he let any fail?

He's one of them, as is Clegg.

I suspect they might well not have any choice. If they let a few fail, the other banks can pick up the good assets (which can then be devalued), putting them on a surer footing. It just depends on whether one bank is enough or whether more have to be sacrificed... or am I missing something?

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http://en.wikipedia.org/wiki/George_Osborne

George Osborne Oliver Osborne

Incidently , Osborne or Gedeon (Hebrew: גִּדְעוֹן, Modern Gid'on Tiberian Giḏʻôn), which means "Destroyer," "Mighty warrior," or "Feller (of trees)" - http://en.wikipedia.org/wiki/Osborne.

Very apt Im sure.

What religion is he out of interest ?

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Lloyds looks too exposed to any kind of housing downturn. I expect a govt bailout. Maybe to 90% like RBS.

The big building societies and HSBC look strong to me.

Which leaves Barclays

But isn't Barclays just as strong as the building societies? As i recall it was never bailed out and indeed hoovered up profitable bit of Lehmans when it went bust.

More likely the part-nationalised banks will be fully nationalised.

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Ah, I see. So the lefties continue to call him Osborne to be annoying.

No I call him Osborne too for comedy value.

Also government borrowing is predicted to increase by an extra £46BN, and he is way behind on his deficit reduction schedule.

Osborne refused to be called on it, instead fobbing it off onto his "Office of Budget Responsibility."

His corporate paymasters would have been proud.

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http://en.wikipedia.org/wiki/George_Osborne

George Osborne Oliver Osborne

Incidently , Osborne or Gedeon (Hebrew: גִּדְעוֹן, Modern Gid'on Tiberian Giḏʻôn), which means "Destroyer," "Mighty warrior," or "Feller (of trees)" - http://en.wikipedia.org/wiki/Osborne.

Very apt Im sure.

He is also a Baronet and has links to the Rothschilds.

Calling Erranta :D

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But isn't Barclays just as strong as the building societies? As i recall it was never bailed out and indeed hoovered up profitable bit of Lehmans when it went bust.

That's often quoted... the profitable bits of Lehmans... What evidence do you have that any of Lehman was profitable when it failed - and, if you find any, what further evidence do you have that those activities remain profitable?

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Could you provide a link to where Barclays was bailed out then?

Perhaps we need a Barclays bailout thread pinning? :lol:

1. They were bailed out unofficially because they benefitted by the other banks being bailed out officially

2. They tapped the B of E's special liquidity scheme

3. They were bailed out from what they should have lost via AIG post 167:

http://www.housepricecrash.co.uk/forum/index.php?showtopic=168115&st=165

4. They took huge amounts from the Fed

Federal Reserve data showing UBS AG and Barclays Plc ranked among the top users of $3.3 trillion from emergency programs is stoking debate on whether U.S. regulators bear responsibility for aiding other nations’ banks.

UBS was the biggest borrower under the Commercial Paper Funding Facility, with $74.5 billion overall, more than twice as much as Citigroup Inc., the top U.S. bank recipient, according to the data released yesterday. London-based Barclays Plc took the biggest single amount under another program that made overnight loans, when it got $47.9 billion on Sept. 18, 2008.

“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures. “Has the Federal Reserve become the central bank of the world? I think that is a question that needs to be examined.”

http://www.bloomberg.com/news/2010-12-02/federal-reserve-may-be-central-bank-of-the-world-after-ubs-barclays-aid.html

If you think that doesn't amount to being bailed out, you are Bob Diamond and I claim my £5

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Why so funny? Is it an anti-Semitic thing?

huh!

it's his name man, just his name, not such a big deal.

I think it's a great name, I thank the Lord that we have posh people to save us from..... um the rich bankers........ oh hang on a minute..

now I am confused.

still of for a game of polo, oh no I mean pool.

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