spyguy Posted November 30, 2017 Share Posted November 30, 2017 100,000 RBS jobs, 10 years, 50bln. Not Brexit, RBS bank bank. https://www.ft.com/content/84c89f1c-d551-11e7-8c9a-d9c0a5c8d5c9 Strange, I dont see the same level of hysteria about just this one bank like they bang on about Brexit. All these London centric pols and the like going about how bad brexit was. Where are they on this very real cost to the UK populace? Did Gordon Brown 'do the right thing!.? Nope. Is Fred the Shred in prison? No. Was he stripped on his pension. No. And thens there's the other banks - HBOS, etc. Quote Link to comment Share on other sites More sharing options...
Fletcher Posted November 30, 2017 Share Posted November 30, 2017 49 minutes ago, spyguy said: https://www.ft.com/content/84c89f1c-d551-11e7-8c9a-d9c0a5c8d5c9 FT content is gated. The value of posting a gated link is open to question. Just saying. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted November 30, 2017 Share Posted November 30, 2017 whats the title of the article so we can google it ? Quote Link to comment Share on other sites More sharing options...
Glental Posted November 30, 2017 Share Posted November 30, 2017 'Royal Bank of Scotland shuts ‘bad bank’ that took £50bn hit' Quote Link to comment Share on other sites More sharing options...
rantnrave Posted November 30, 2017 Share Posted November 30, 2017 Seeing the thread title, I thought Busta was writing another book... Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted November 30, 2017 Share Posted November 30, 2017 (edited) People get richer by more than that each month just from HPI. So, not the slightest problem here. Edited November 30, 2017 by Silverfinger Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted November 30, 2017 Share Posted November 30, 2017 50 minutes ago, Glental said: 'Royal Bank of Scotland shuts ‘bad bank’ that took £50bn hit' Ta https://www.google.co.uk/search?q=Royal+Bank+of+Scotland+shuts+‘bad+bank’+that+took+£50bn+hit&oq=Royal+Bank+of+Scotland+shuts+‘bad+bank’+that+took+£50bn+hit Quote Link to comment Share on other sites More sharing options...
zugzwang Posted November 30, 2017 Share Posted November 30, 2017 Don't worry, Carney's planning to get rid of all the troublesome red tape that the EU introduced after the GFC and set the City of London free again! http://www.telegraph.co.uk/business/2017/11/29/uk-free-scrap-excessive-eu-red-tape-brexit-says-carney/ Quote Link to comment Share on other sites More sharing options...
pathfinder Posted November 30, 2017 Share Posted November 30, 2017 Nothing worst than having my opinions of Government reinforced. At this rate I am getting tempted to throw my salary over 11k under Bus into a SIPP just so these bastards get as little income tax off me as possible, not giving two beeps if its wipe out time. Quote Link to comment Share on other sites More sharing options...
Castlevania Posted November 30, 2017 Share Posted November 30, 2017 I'm surprised it was only £50 billion. The amount of total crap on ABN Amro's balance sheet. Unless a lot of that was realised as a loss before they set up the bad bank? The Dutch government got very lucky with that one. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted December 1, 2017 Share Posted December 1, 2017 7 hours ago, spyguy said: 100,000 RBS jobs, 10 years, 50bln. Not Brexit, RBS bank bank. https://www.ft.com/content/84c89f1c-d551-11e7-8c9a-d9c0a5c8d5c9 Strange, I dont see the same level of hysteria about just this one bank like they bang on about Brexit. All these London centric pols and the like going about how bad brexit was. Where are they on this very real cost to the UK populace? Did Gordon Brown 'do the right thing!.? Nope. Is Fred the Shred in prison? No. Was he stripped on his pension. No. And thens there's the other banks - HBOS, etc. For years the banks were encouraged to take risks and the government was very happy to take the taxes the boom times provided. Seems a bit hypocritical to complain after things went tits up (as was always going to happen at some point). The time for Brown to do the right thing was years earlier, not when he was told you must do this or the ATM's will stop working before the end of the day. As for putting Fred in prison why. He was a thoroughly unpleasant human being but only doing what all CEOs were being encouraged to do, takings risks to make money. If he had done the AMRO deal a year earlier he would have been a national hero. As for comparing the £50 billion to Brexit, first what is the real cost to the UK populace and does it really compare to the forecast cost of Brexit over the next 10-15 years. Quote Link to comment Share on other sites More sharing options...
Fletcher Posted December 1, 2017 Share Posted December 1, 2017 1 hour ago, Confusion of VIs said: For years the banks were encouraged to take risks and the government was very happy to take the taxes the boom times provided. Seems a bit hypocritical to complain after things went tits up (as was always going to happen at some point). The time for Brown to do the right thing was years earlier, not when he was told you must do this or the ATM's will stop working before the end of the day. As for putting Fred in prison why. He was a thoroughly unpleasant human being but only doing what all CEOs were being encouraged to do, takings risks to make money. If he had done the AMRO deal a year earlier he would have been a national hero. As for comparing the £50 billion to Brexit, first what is the real cost to the UK populace and does it really compare to the forecast cost of Brexit over the next 10-15 years. RBS pushed on with the ABN amro takeover even when it was clear that it was horribly overpriced, and the meat of the GFC was well underway iirc. Also iirc RBS could've pulled out but didn't. This is all on Fred AFAIK. Quote Link to comment Share on other sites More sharing options...
IMHAL Posted December 1, 2017 Share Posted December 1, 2017 14 hours ago, spyguy said: 100,000 RBS jobs, 10 years, 50bln. Not Brexit, RBS bank bank. https://www.ft.com/content/84c89f1c-d551-11e7-8c9a-d9c0a5c8d5c9 Strange, I dont see the same level of hysteria about just this one bank like they bang on about Brexit. All these London centric pols and the like going about how bad brexit was. Where are they on this very real cost to the UK populace? Did Gordon Brown 'do the right thing!.? Nope. Is Fred the Shred in prison? No. Was he stripped on his pension. No. And thens there's the other banks - HBOS, etc. Brexit is a diversion for the ills brought on us by our own successive incompetent politicians - and what do we do? - we blame someone else thats what. Yet again, it proves that people are easily distracted and manipulated, especially when you harness the power of tribal spirits. The banks ran amok with our politicians blessing. Result = HPI and massive debt + QE and tax payer money to paper over the cracks. Now we are in an endless recession hovering over the inescapable event horizon of high density debt. Unfortunately, as someone has already pointed out, Brexit will end up making things worse and will probably end up being a more costly mistake. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted December 1, 2017 Share Posted December 1, 2017 12 hours ago, pathfinder said: Nothing worst than having my opinions of Government reinforced. At this rate I am getting tempted to throw my salary over 11k under Bus into a SIPP just so these bastards get as little income tax off me as possible, not giving two beeps if its wipe out time. Do it ? one of the most satisfying things you can do. Quote Link to comment Share on other sites More sharing options...
winkie Posted December 1, 2017 Share Posted December 1, 2017 I think we should be investing money into making the country a better place to be and live, like infastructure and education, real jobs that matter, not speculation and gambling...... speculation and gambling where there is no accountability, speculation and gambling where the majority are unable to play the game, not invited to the casino or invited but refuse to take part. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted December 1, 2017 Share Posted December 1, 2017 (edited) 7 hours ago, Confusion of VIs said: For years the banks were encouraged to take risks and the government was very happy to take the taxes the boom times provided. Seems a bit hypocritical to complain after things went tits up (as was always going to happen at some point). The time for Brown to do the right thing was years earlier, not when he was told you must do this or the ATM's will stop working before the end of the day. As for putting Fred in prison why. He was a thoroughly unpleasant human being but only doing what all CEOs were being encouraged to do, takings risks to make money. If he had done the AMRO deal a year earlier he would have been a national hero. As for comparing the £50 billion to Brexit, first what is the real cost to the UK populace and does it really compare to the forecast cost of Brexit over the next 10-15 years. But the bankers weren't only taking risks and making a lot of bad bets. They were simultaneously engaged in wholesale accounting fraud, securities fraud, rate rigging, mail and wire fraud, commercial and negligent misrepresentation etc. Unenumerable crimes for which the general public is still paying. Edited December 1, 2017 by zugzwang Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted December 1, 2017 Share Posted December 1, 2017 RBS to close one in four branches and shed 680 jobs http://www.bbc.co.uk/news/business-42192641 Quote Link to comment Share on other sites More sharing options...
winkie Posted December 1, 2017 Share Posted December 1, 2017 No more money, no more bank runs, no more ATMs, no more cashiers........who needs bank buildings when you're got a mobile/laptop WiFi? Quote Link to comment Share on other sites More sharing options...
taderuk Posted December 1, 2017 Share Posted December 1, 2017 It's brexits fault innit........ Quote Link to comment Share on other sites More sharing options...
tomandlu Posted December 1, 2017 Share Posted December 1, 2017 1 hour ago, zugzwang said: But the bankers weren't only taking risks and making a lot of bad bets. They were simultaneously engaged in wholesale accounting fraud, securities fraud, rate rigging, mail and wire fraud, commercial and negligent misrepresentation etc. Unenumerable crimes for which the general public is still paying. And now they're warning us that Corbyn is the biggest threat to their business model. I don't think they're really thinking it through... Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 1, 2017 Author Share Posted December 1, 2017 2 hours ago, IMHAL said: Brexit is a diversion for the ills brought on us by our own successive incompetent politicians - and what do we do? - we blame someone else thats what. Yet again, it proves that people are easily distracted and manipulated, especially when you harness the power of tribal spirits. The banks ran amok with our politicians Gordon Browns blessing. Result = HPI and massive debt + QE and tax payer money to paper over the cracks. Now we are in an endless recession hovering over the inescapable event horizon of high density debt. Unfortunately, as someone has already pointed out, Brexit will end up making things worse and will probably end up being a more costly mistake. 2008, in the form it took in the UK, was purely down to Brown creating the biggest credit bubble the UK had ever seen, in his attempt to super charge UK tax revenue. Rather than yielding billions, 2008 crash has cost the UK billions. https://www.ft.com/content/834527ba-d5f0-11e7-a303-9060cb1e5f44 'Corbyn lashes out at financial sector ‘speculators and gamblers’' Pointless response. Greed is part of the human beast, just like vanity is jezza. However, bailing out vanity operations such as HBOS, RBS, NR, BandB, is not somethign her state or tax payer should be doing. Jezza would be better advised saying that if a bank fails then all bonuses and wages for he last 10 years will be clawed back. A failing bank will have to use up its capital, its equity, its bond holders then the pension fund fund of its employees before it gets state money. I dont care or have an opinion if the CEO of Morgan Stanley is worth xmillion. However if MS goes down I want that CEO sleep on a bench in park. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted December 1, 2017 Share Posted December 1, 2017 9 minutes ago, tomandlu said: And now they're warning us that Corbyn is the biggest threat to their business model. I don't think they're really thinking it through... Guardian: Jeremy Corbyn tells Morgan Stanley: 'You're right, we are a threat' https://www.theguardian.com/politics/2017/nov/30/jeremy-corbyn-morgan-stanley-labour-brexit? Quote Link to comment Share on other sites More sharing options...
Locke Posted December 1, 2017 Share Posted December 1, 2017 29 minutes ago, tomandlu said: And now they're warning us that Corbyn is the biggest threat to their business model. I don't think they're really thinking it through... Could be a bluff. The idea that the government will fundamentally change its nature through a swapping of its figurehead would be laughable if it weren't so dangerous. 14 hours ago, pathfinder said: Nothing worst than having my opinions of Government reinforced. At this rate I am getting tempted to throw my salary over 11k under Bus into a SIPP just so these bastards get as little income tax off me as possible, not giving two beeps if its wipe out time. 2 hours ago, Frugal Git said: Do it ? one of the most satisfying things you can do. While I understand and agree with starving the government of tax revenue, I do not think that using a scheme it has set up is prudent, nor effective in achieving this goal. What is to stop the government in 20 year's time from installing tax gates on the scheme? They have already lowered the ceiling on it massively, despite raging inflation. When the government becomes desperate, it is going to scramble and claw for wealth to steal and this is going to be a juicy target, in my opinion. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted December 1, 2017 Share Posted December 1, 2017 43 minutes ago, rantnrave said: Guardian: Jeremy Corbyn tells Morgan Stanley: 'You're right, we are a threat' https://www.theguardian.com/politics/2017/nov/30/jeremy-corbyn-morgan-stanley-labour-brexit? Great stuff. Straight back at them. They have a rapsheet as long as the tunnel under the Hudson river. https://www.nytimes.com/2016/02/12/business/dealbook/morgan-stanley-to-pay-3-2-billion-over-flawed-mortgage-bonds.html Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted December 1, 2017 Share Posted December 1, 2017 My branch of RBS closed recently, too. In fact, that is after my first one had closed maybe 5 years or so ago. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.