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RBS sell off

So let me get this right we helped bail out the banks with tax payers money and now the Tories are selling of nearly 8% of the stake at a 2 billion loss.

Surely this isnt acting in our interests as the tax payer.
Northwest · M
Is this the 2008-2009 bailout that's still not been paid off? I don't understand the details of the British financial bailout.

In our case, the money was paid back with interest, long ago.
malizz · 70-79, M
@Northwest It's the ongoing litigation that's been causing continuing losses. That bit should have been hived off to a busted bank owned by the executives who prepetrated the debacle.
milkymum1 · 31-35, F
@Brenda well put as like May saying she will work for everybody but in reality her husband works for a firm that helps the elite aviode paying taxes.
milkymum1 · 31-35, F
@Northwest Pirvatisation is only good if proceders and laws are put it to protect the people and not just for the shareholders to take all the money and let the system fail> just look how privatisation is set up in the UK, the trains all privatised so shareholders take all the money, the trains have less carrages, dont run as often and prices are a lot higher but if theirs any delays or no trains the customer claims from the companies who then can claim from the goverment!!!!! why ???

look at Heathrow the need runway will be done by a private company but if it goes wrong or delays the government pays for it!!!!! why??
SW-User
At a loss as to why they feel they have to sell?

Problem is as a bank it continues to fail

Now the govt own now 83% of RBS after the bailouts - so you lose £2.1billon on selling 7.7% of that... I make that a £22.6billion overall loss!

Staggering - how was this bank not declared broke and gone to the wall. Surely bailing out all the personal savings via the FCCS would have been far less dumb
malizz · 70-79, M
@SW-User Tory dogma.
SW-User
@malizz true though to be fair it was bailed out by Gordon Brown. He should just have totally nationalised it and be done with it but I presume the EU would have been unhappy. Then they should have just sold bits off as they could - break it up and flog it on or refloat it.

But personally - it's been badly run for years so should just have been left to go to the wall.
Burnley123 · 41-45, M
It helps their buddies in the banking sector though.

It's always been this way and reminds me of the 2008 crash when the banks got huge bailouts. We then (and still do) had years of austerity, ostensibly because there was no money left.
milkymum1 · 31-35, F
@Burnley123 yes thats all its for.

this is from the 2008 crash and austerity hasnt worked here, all it has done is make things worse and normal people suffer.

if they are selling RBS off at a loss what does it really say about the bank and the whole process.
SW-User
I don't believe there's ever been an interest in the tax payer, other than charging the tax payer more interest. ;)
@SW-User groan both in substance of answer and comedic spirit of it...
SW-User
@SomeMichGuy as usual, I was wondering what you would think. 🙄
@SW-User u. ebenfalls, natürlich 😉
GwydionFrost · 56-60, M
Whatever gave you the idea ANY of this is acting in the interest of the tax payer...?
milkymum1 · 31-35, F
@GwydionFrost well i live in hope one day they will
milkymum1 · 31-35, F
@SomeMichGuy what that mean?
@milkymum1 me expressing sympathy for the British taxpayer for this mismanagement of the coin of the realm. 😭
malizz · 70-79, M
If they had hived off the litigation risk, they would have been laughing (all the way to the bank?) lol
milkymum1 · 31-35, F
@malizz They already do that everyday by all thier scams and taxing us more.
plungesponge · 41-45, M
lol... the bailouts were always about buying the 1% time
milkymum1 · 31-35, F
@plungesponge true but this just shows they dotn care at all about the tax payer
plungesponge · 41-45, M
I dont think even the 1% are in control. It's a tidal wave of debt they have lost control of, they are too busy trying to keep ahead of the money ball to worry about appearences now

 
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