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crash2006

Taxpayers To Bail Out Stricken Coal Giant

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cres.JPG

These UKC shares (now CRES) were worth £6 back 2007 and not so recently, pennies. The mines were not making money, but there was speculation over the masses of land that the company owned and how they could be developed etc. That is why it is so important for house prices to remain high, and at least control the decline in values as they back our balance sheets of our banks.

Edited by out2lunch

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http://www.thesundaytimes.co.uk/sto/business/Industry/article1258070.ece

So we privatise it, let them run up debt etc... and then save it with tax payers money just to be sold again very cheaply.

I suspect this is something like the program:-

(1) privatize

(2) cash/profit goes to new owners/CEOs/higher managers

(3) value depleted

(4) socialize losses by funding from tax-payer

(5) go to (1)

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http://www.thesundaytimes.co.uk/sto/business/Industry/article1258070.ece

So we privatise it, let them run up debt etc...

Privatise what? Is there an entity in this story that was once privatised? When? How?

and then save it with tax payers money just to be sold again very cheaply.

Oh dear. And after all the struggles Mrs T. went through to stop doing that with taxpayers money. Still, I expect it's a drop in the ocean compared to the old-lab bailouts she put a stop to, or even to the lesser nulab ones of 2008-9.

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So we privatise it, let them run up debt etc... and then save it with tax payers money just to be sold again very cheaply.

UK coal was never a business... it's a pension fund.

The Tories closed all the mines. A few were left open and lumped into UK coal along with a big pile of pension liabilities that the state had.

It ran for a while, but was always going to be crushed by those pension liabilities.

Now they are looking for a way to wind it up and an tell the pensioners to go screw themselves.

Most of those pensioners are hard-line labour supporters. The Tories would love to punish them for their lives of voting labour. Taking their pensions and leaving them destitute will be that punishment.

Edited by RufflesTheGuineaPig

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  • 238 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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