More money pumped into banks...
 

25.5 billion into RBS and Lloyds

Just more money for us taxpayers to find..:(

Announcement On Break-Up Of RBS And Lloyds Bank | Business | Sky News

Don't worry, Darling has just said on GMTV that when they sell the bank we 'should' get our money back......

At least make it accurate.

£25.5bn pumped into RBS.

Lloyds is actually paying the government a £2.5bn bonus for implicit cover under the APS which it is now not going to use.

Do they have a phone number that we can ring to get our share back when it is divi'ed up again, I want my bit back.

Also heard a comment on Terry Wogan this morning, the gov are pumping £25bn into the banks and the normal working people of this country are struggling with money but will probably still raise £25million for Children In Need

windyboy

British banking is in a hell of a mess now, there's no doubt.

I had to laugh at the headlines this morning, Brown has "congratulated" Darling for his handling of the bailout.

That's a staggering way to frame it, to put it mildly.

I hate RBS they are ****ing THIEVES plain and simple. Their staff don't deserve jobs either if the treatment i've had off them lately is anything to go by!:razz:

Be fair though! RBS need the cash to pay out the bonuses!

Les :(

Nobody on a salary of more than £39k will be getting a cash bonus.




Next.

Did you pay 'Your bit' in tax thinking that it would fund something which is now not getting funded as a direct result of the absolutely necessary loans from the government to the banks?

Makes me laugh when people say 'As a taxpayer I now own a bank'. No you dont. It's the same as when I put £10 in a fruit machine and win £100, everyone at the bar moans that I should buy them a pint, my usual response being "Were you going to buy me a pint if I'd put all of my £10 in and lost? No? then sod off"

When the shares that the government has bought in the banks are sold once the banks become largely profitable once again, will the governement then buy you a pint with their winnings? Will they f***!

..... and there ws me hoping to stir up a hornets nest. It appears that nobody cares anyway :)

Need to keep paying (stimulating) into the UK economy as they made the mistake in the 1930s of thinking they were out into recovery, stopped paying in and, free fall!

Report (current) here ... http://www.cps.org.uk/cps_catalog/Qu...e%20Easing.pdf

"... The policy has also received little scrutiny by Parliament. There has been no primary legislation on QE. The only secondary legislation on QE has been a statutory instrument, exempting the policy from the FSA’s authorization regime. ..."

I find that quite incredible. More evidence of the impotence of parliament these days.

"... There are useful lessons to be learned from history. On two out of three previous occasions that printing money has been used, it resulted in high inflation. The worst resulted in inflation reaching a record 36.5%. ..."

Maybe that's what Liebour want - inflation to get rid of the debts! Seems to me there needs/needed to be much more scrutiny of the whole process.

Dave

I'm not going to pretend to understand why putting extra money into the banking system is going to make any changes, as it did not the first time around. The banks want to continue doing exactly what they did before they helped create some of the mess that currently in.
Why not do the more sensible thing and leave VAT at 15% and put a 2 year freeze on fuel prices ?

Richard

Whilst I think Labia have been a load of lying b4strds from the off, you're wrong here for two reasons.

1stly, where QE has been used in recent years (e.g. by Japan who are the world record breakers at it), the cash is quickly sucked back out of the system by issuing gilts. Japan took something like 6 years to push money out, and 2 months to get it all back again.

2ndly, inflation won't help in terms of getting the government out of debt - the majority of the government debt is index-linked, so it would hurt them like everyone else. Couple to that the fact that no government in history has ever successfully managed to inflate its way out of debt, then no economist is going to be advising otherwise - assuming Labia even bother listening to experts.

Gordo

I have did my bit of helping RBS by transferring everything over to Northern Bank instead. 1 customer less for them to worry about!:thumb:

If I understand it.... you don't get bailed out by the Government if you lose.

So why should they ? Pay off the customers and let them sink into oblivion.

The empty office blocks could then provide cheap housing for immigrant famillies. :idea:

dunx

P.S. I'd rather spend my £400 share on some Japanese hi-fi.... :lol1: