Tuesday, June 30, 2009

Sensible comments from head of RBS

Interview with Stephen Hester

Surprisingly sensible comments from Stephen Hester head of RBS

Posted by bellwether @ 06:33 PM (3750 views)
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4 thoughts on “Sensible comments from head of RBS

  • japanese uncle says:

    Given 9.5 mil bonus nay 1 mil, I could make a very very nicely sensible comment indeed.

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  • is this the right link – i just see a picture of gordon!

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  • http://www.propertyweek.com/story.asp?storycode=3142854 has the story. RBS has too much commercial property debt on its books (genius) but not to worry as long as debtors make their payments. The latter is what the banks are all about right now – instead of writing off/down debts or having a wave of bankruptcies they want to prop up their debtors so that the monthly payments come in and everybody lasts until next month.

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  • In fairness Hester stressed that recovery was only going to be happen in a real way via less debt, less consumption and more saving. Patent truth but I’ve heard nothing even close to this sort of thing from anyone else so close to the goverment. RBS have often been cited as the conduit for the reflation of the bubble. Unless Hester is indulging in double speak doesn’t seem to be the plan. At present!

    Hester has also previosuly indicated that beyond rolling over RBS were looking to reduce exposure to comm prop lending.

    Icarus your suggestion comes close to liquidate everything which will add to the already massive deflationary pressures. I agree with you on the direction but too much and it becomes like losing weight with a couple of months starvation. You will achieve your goal but you will also be dead/dying by the end of it.

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