Jump to content
House Price Crash Forum
Sign in to follow this  
eric pebble

Every Taxpayer Forked Out £7,600 To Prop Up The Disgraced Banking Industry.

Recommended Posts

Every taxpayer fork[ed] out £7,600 to prop up the disgraced banking industry.

But Mr Southwell is facing some awkward questions rather closer to home – questions which should also be directed to Bank of Scotland (HBOS), the multibillion-pound bank which had to be rescued by the British taxpayer at the height of the credit crisis because of a catalogue of reckless lending that brought it to the brink of extinction.


However, an analysis of the company's brief but extraordinary five-year history sheds light on some of the decadent lending policies that led, according to the National Audit Office, to each and every taxpayer forking out £7,600 to prop up the disgraced banking industry.


It cost each of us £7,600 to prop up the Banksters.... Who otherwise would have ended up in complete oblivion.... Completely staggering.

Edited by eric pebble

Share this post

Link to post
Share on other sites

To be fair, the bank of England printed almost that amount per person as well so it probably balances out.

Not sure if anybody's really learnt anything though. Except next time around speculators will feel more comfortable in the knowledge that the worst that can happen is that the BoE has to print a ton of money again to underwrite/support the value of their tulip bulbs at peak valuation.

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   220 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.