Value for money?

[Mottie]

You should know better than to ask Gal & co. what should be done. Gal & co. Are only good at criticising after the event. Of course, if something works out good for the government or the UK, radio silence is deployed. .

 

[Vinty]

So inflation erodes earning power and as to house prices?

Always with people they really think they understand economics.

It doesn't erode earning power.
You just need a bigger wheelbarrow to take your cash to the shop to buy a bottle of milk.

Short term pain for long term gain.
Prices go up but so do wages.
Everything is relative.

The capital debt is then eroded to next to nothing.

 

[Vinty]

Would you have preferred RBS (as was) to go bust and take all the businesses and individual accounts with them?

There was no way any government could or should have let that happen.

People that say that the government should have allowed the banks to go bust would have been the first to complain when they went to an ATM and found that their bank account was empty.

 

[fillyboy]

People that say that the government should have allowed the banks to go bust would have been the first to complain when they went to an ATM and found that their bank account was empty.

Apparently Galahad understands economics, apparently nobody else does.

 

[Dangee]

I know G isn’t the sharpest tool but how can he accuse someone else of being a strawman when he just suddenly deflected (as usual) to talking about the lockdown timing.
He is hilarious though, I love reading his posts. He really makes me laugh,especially when losing a debate & reverts to insults.

 

[ellal]

People that say that the government should have allowed the banks to go bust would have been the first to complain when they went to an ATM and found that their bank account was empty.

Linky Linky

"IMF Survey: Iceland's Unorthodox Policies Suggest Alternative Way Out of Crisis"

 

[ellal]

Would you have preferred RBS (as was) to go bust and take all the businesses and individual accounts with them?

There was no way any government could or should have let that happen.

Linky Linky

"Bank governor under fire for role in RBS scandal"

"RBS, now called Natwest, was accused of putting its own interests ahead of its clients when it moved 16,000 small business customers to its Global Restructuring Group (GRG).
More than 90% of those customers suffered some form of mistreatment and many were financially ruined between 2009 and 2013.
Internal emails later emerged highlighting abusive attitudes to small business customers, including one in which a banker wrote: "Rope: sometimes you need to let customers hang themselves."
A government body, the Asset Protection Agency, was accused of driving the scandal after it pressured the bank to withdraw loans from business customers and obtain their assets.
Some of those customers lost not only their livelihoods but also their marriages, which took a heavy toll on their physical and mental health."

 

[noseall]

When a robber takes your cash it's called theft but when a bank does it...

It annoys me that many in financial institutions are not accountable for their ineptitude with other people's cash. Those to the left encourage regulation whilst those greedy bastads to the right (LIBOR type bastad scum) do their best to facilitate the theft of hard earned money.

Those type should be in a cell along side Ian Huntley and Peter Sutcliffe. Cut from the same cloth.

 

[noseall]

You should be able to bank on your wife - as long as you don't lose interest in her.

(I'll get me coat).

 

[Lower]

Linky Linky

"Bank governor under fire for role in RBS scandal"

"RBS, now called Natwest, was accused of putting its own interests ahead of its clients when it moved 16,000 small business customers to its Global Restructuring Group (GRG).
More than 90% of those customers suffered some form of mistreatment and many were financially ruined between 2009 and 2013.
Internal emails later emerged highlighting abusive attitudes to small business customers, including one in which a banker wrote: "Rope: sometimes you need to let customers hang themselves."
A government body, the Asset Protection Agency, was accused of driving the scandal after it pressured the bank to withdraw loans from business customers and obtain their assets.
Some of those customers lost not only their livelihoods but also their marriages, which took a heavy toll on their physical and mental health."

My company was one of those 16,000 small businesses. RBS were are an absolute nightmare. We were going through a difficult time financially. Their strategy was to put us in the ‘distressed’ businesses group, forced us to take out hedges against interest rate rises, and allocated us a ‘specialist’ manager who was permanently off sick which meant no one at RBS could take a decision about changing any of our banking arrangements. As they had a charge on our factory, if we’d have gone under they’d have been covered for the loss.

Thankfully we made it through, changed banks, and they ended up having to pay us £300k in compensation about 6 years ago.

If they’d have been allowed to go bust it would have taken us down with them, and even if we’d survived we’d never have got the miss selling compensation from them.

 

[SirGalahad]

You should know better than to ask Gal & co. what should be done. Gal & co. Are only good at criticising after the event. Of course, if something works out good for the government or the UK, radio silence is deployed. .

Stop lying you old fool. You just use this rubbish hindsight excuse which has been exposed so many times when the Government itself does a U-turn.

You are such a fool continually having to lie to yourself to support actions which you know are wrong.

 

[SirGalahad]

So when do you want the government to sell? Do you want them to leave the bank state owned so that the share price can never rise significantly and therefore the country never gets any of its expenditure back, or do you want them to gradually ease the bank out of state ownership and minimise the loss?

lol, was there an overriding need to sell now? Was the equity / capital position of Natwest requiring this to happen?

The country bailed the bank out - or did you forget. If this was a private investor would they have sold?

You really are scraping the bottom of the barrel defending this action.

 

[JohnD]

lol, was there an overriding need to sell now?

Yes, because share prices are starting to recover. It is important to sell before they go up any more, to maximise profits for the lucky recipients.

This will prevent taxpayers making a gain, which would be most undesirable.

 

[SirGalahad]

Apparently Galahad understands economics, apparently nobody else does.

You certainly don't.

 

[SirGalahad]

I know G isn’t the sharpest tool but how can he accuse someone else of being a strawman when he just suddenly deflected (as usual) to talking about the lockdown timing.
He is hilarious though, I love reading his posts. He really makes me laugh,especially when losing a debate & reverts to insults.

The irony that you are posting about another thread talking about a straw man argument.

Poor **** unclogger you really can't follow an argument.


You dumbo tell your kids thats another £1.8bn they have to help pay now.