Rbs

[Sospan]

So Royal Bank of Scotland (RBS) has announced the largest annual loss in UK corporate history and is to receive a further £13bn of taxpayers' cash.

Pre tax losses were over £40 billion thats over £50 billion down on last years figures of a £10 billion. Coupled with all the bad press of Sir Fred Goodwin can anybody offer a reasonable explanation as to how the hell RBS shares rose by 25.54% today ?

 

[Plumber]

It's ripe for a take over, and since the government won't let it go under share holders are pretty much fire proof.

 

[grumpyoldb]

can anybody offer a reasonable explanation as to how the hell RBS shares rose by 25.54% today ?

Yeah. The barstewards have just put my bank charges on my account!

 

[pie sandwich]

I personally can not blame the guy for the pension he is getting, I know £650,000 per year is a hell of a lot of money, but I ve been watching the news all day and everyone has demanded that he take a cut and should not be so greedy, but his pension was agreed by a board of directors and some MP's I believe. So fair play to the guy, if it was me I would do what he has done and tell them to poke off.

But the government should have taken responsibility for peoples savings and mortgage's then let the bank go into receivership and saved a hell of a lot of money and ball ache. I know that that is just wishful thinking but it would teach all the banks a very big lesson that they will never repeat.

 

[MingMong]

This is probably very naive thinking from me, I admit to having no knowledge on finance except for that when the cashpoint machine says no, that means i'm out of money. However....

I'm sure over the last few years the banks have announced massive profits every year, figures in the billions per year in profit. So how comes, when they are making loads of money, people are getting very, very rich from it, but when they are making a loss it is up to us, the taxpayers (who have also been the source of their previous profits) to bail them out. Surely the people who have been making the profit over all these years should now be the ones who are suffering the consequences of their greed. Or am I missing something?

 

[grumpyoldb]

The shareholders make the profit, as they risk losing if and when the shares lose value. They make money while the going is good, and then sell. They buy back in when times are good. They are not responsible for the banks debt.

Wouldn't you think that banks would heed their own advice and save money for a rainy day while its good?

 

[metimmee]

I personally can not blame the guy for the pension he is getting, I know £650,000 per year is a hell of a lot of money, but I ve been watching the news all day and everyone has demanded that he take a cut and should not be so greedy, but his pension was agreed by a board of directors and some MP's I believe. So fair play to the guy, if it was me I would do what he has done and tell them to poke off.

I agree. Yes its obscene, but it was agreed and enshrined in a watertight contract no doubt. In five years all this will have blown over and he'll still be laughing all the way to his Swiss bank.

 

[alanpartridge]

They all have their noses in the trough together. Sir Fred will give it back when Jackie Smith does.

 

[propersplitbrainme]

.....but his pension was agreed by a board of directors and some MP's I believe. So fair play to the guy, if it was me I would do what he has done and tell them to poke off.

Thats the way I see it too. 650K is as much as most of us see in 20 odd years of our working lives, but that was his contract. The MPs who are calling for him to cut it are just jumping on a popularist bandwagon.

 

[Talk Wrench]

Thats the way I see it too. 650K is as much as most of us see in 20 odd years of our working lives, but that was his contract. The MPs who are calling for him to cut it are just jumping on a popularist bandwagon.

And if they change the law to take away his pension, it means that they will have changed the law to take away ANYONE'S pension.

The labour government has already destroyed the private pension sector and they want to destroy the public pension sector.

If they get away with removing Sir Freds pension, they will be looking at removing yours too.



TW

 

[rest have risen above me]

This is probably very naive thinking from me, I admit to having no knowledge on finance except for that when the cashpoint machine says no, that means i'm out of money. However....

I'm sure over the last few years the banks have announced massive profits every year, figures in the billions per year in profit. So how comes, when they are making loads of money, people are getting very, very rich from it, but when they are making a loss it is up to us, the taxpayers (who have also been the source of their previous profits) to bail them out. Surely the people who have been making the profit over all these years should now be the ones who are suffering the consequences of their greed. Or am I missing something?

Wasn't the LLoyds insurance investors thing a similar plot. They were all happy when the trough was full but when the butcher wanted some bacon they all sqealed to the government.

And if they change the law to take away his pension, it means that they will have changed the law to take away ANYONE'S pension.

The labour government has already destroyed the private pension sector and they want to destroy the public pension sector.

If they get away with removing Sir Freds pension, they will be looking at removing yours too.



TW

That was quite a jump in information today. I watched the Harriet Harman interview, and she never said "we'll change the law". To be honest she didn't say bugger all just made a lot of noise like politicians do. Then I switched the radio on and the 1st line of the news was "The Govt will change the law to sort the his pension out and get the money back" bloody journalists changing it to what they think is sensational. It'll be quite good though the current buzz line round parliament etc is you shouldn't get a pension when you've failed.. I bet Brown takes his though..DT_Xtremez_32:

 

[Realist78]

If they try to get Fred's pension back, it will laughed out of court. It was built up over years and just because it's now public, Broon etc want to try and get back what they agreed to in private. Utter w@nkers!

 

[broadsword]

Harriet Harman is a ****ing retard. She says's 'I can't see how it is a pension because he is not retired.'. She's obviously never heard of a forces pension then.

****tards, the lot of them. Total, incompetent ****tards!!

DT_Xtremez_32:

 

[R_Squared]

The shareholders make the profit, as they risk losing if and when the shares lose value. They make money while the going is good, and then sell. They buy back in when times are good. They are not responsible for the banks debt......

I believe that shareholders actually are responsible and can be pursued for a companies debt. They do actually own a small part of the company after all.

[Incoming Rant not aimed at you grumpy BTW]

It has staggered me beyond belief that these banks have been so copiously bailed out, their staff rewarded with bonuses and their management protected from the consequences of their actions.

It is utterly unbelievable that this state of affairs has come to pass in a supposed 'free market'.

I am well aware of the fact that the 'possible' consequences of allowing these banks to fail 'could' have been difficult, but I fail to see why that was an excuse to frivilously chuck Taxpayers money at these incompetents.

What also gripped my fecal matter was the over use of Bonus culture as a retention tool to keep 'talent' working for a company.
Bollox! If they don't get a bonus because they fcuked up, where are they going to go? These days, absolutely nowhere.

The only way this should have been sorted out would have been to let these fcukwits go under then use the Billions to help out those made destitute in the ensuing maelstrom.

Christ, It would have been cheaper to just chuck a 100grand at each customer of RBS in the first place, and turfed the Bankers out onto the street, with their assets stripped to repay the debts they built up.

DT_Xtremez_32:DT_Xtremez_32:DT_Xtremez_32:

[And, Relax. Blood pressure dropping, breathing returning to normal]

 

[broadsword]

http://vimeo.com/3261363

Interesting take on the credit crunch...

 

[Talk Wrench]

http://vimeo.com/3261363

Interesting take on the credit crunch...

It's a pity that Gaffer Gordo hasn't seen that video. On a day when Northern Rock have said that over a third of its mortgage holders are in negative equity,
he may have thought twice before bailing them out and thrice before bailing everyone else out.

Incidentally, Northern Rock are now saying that they are making lots of plans to reposses lots of houses.



TW

 

[retired real lecky]

They all have their noses in the trough together. Sir Fred will give it back when Jackie Smith does.

hell will fcukin freeze over first. i hate these barstewards for what they have done to the ordinary bloke in the street