Lloyds Bank.

[Farriercm]

Osborne says he will sell off LLoyds bank shares to individuals , When he thinks the time is right, after he has sold the bulk of these shares to Money Managers. Who are these Money Managers.

[Old_Geezer]

That'd be the Illuminati ;-)

[Fibonacci]

http://www.investopedia.com/terms/m/moneymanager.asp

[Farriercm]

Financial Advisers then, in simple terms. THANKS.

[ladybirder]

Money Manages are what it says on the tin. If you or anybody pays into a pension scheme say, someone has to manage it to make sure you get a good return. Investment schemes don't run themselves. A good one is worth his/her weight in gold.

[New Judge]

No they are not Financial Advisors as such, Farrier (although they may provide such advice as part of their services). A better term would be "Fund Managers" or "institutional investers". They are people who manage pension funds, investment portfolios, "unit trust" type funds where they manage money on behalf of their clients. They buy and sell shares in large amounts as part of their investment strategy,

[Old_Geezer]

So, Osbourne's friends then ?

[New Judge]

Possibly, OG. And also friends of anybody who has money to invest or has a private pension.

[factor-fiction]

Surely anyone who wants to buy (or sell) Lloyds shares can do so at any time- just go to any dealer. You don't have to wait for the government to offload some

[youngmafbog]

Correct factor.

Good to see you have a good grasp of the UK financial industry OG. Take the blinkers off and have a read up. You might be quite surprised.

[Peter Pedant]

his well fed and well paid pink faced Eton chums ?

[ToraToraTora]

They are secret disciples of GWB, they intend to dimonate the world and live on the bl00d of farmed lefties, mwahahaha! Who do you think they are? LLoyds shares like all the banks are freely bought and sold, It is what us plebs call "the stockmarket"you may have heard of it, even you could buy some farrier. These sorts of bulk offers are often offerred to the institutions, the second batch later in the year will be offerred to existing shareholders I believe.

[Farriercm]

Gobbledygook.

[ToraToraTora]

that is an accurate summary of your post, well done.

[ladybirder]

You don't seem to want to learn Farrier albeit people have tried to explain to you.

[ToraToraTora]

Of course he doesn't want to learn, he just wants to have a go at the Tories.

[Old_Geezer]

Dunno about blinkers youngmafbog. I do know today, I along with millions of others, own a bank. One that is a refuge for those who wish to be with the commercial ones, and which can contribute to the public funds. Soon it seems that asset will be flogged to a few lucky individuals to profit from, as if they didn't already have enough banks and other opportunities out there to invest in already.

[ToraToraTora]

first time I've heard owning 25% described as owning outright OG. The shares are freely available, if you want to buy some buy some. It wont be flogged to a few individuals to profit from, the price is the price, it fluctuates whoever buys them. If you want in on the action buy some shares yourself. No point looking from the sidelines and then whining about it.

[New Judge]

Once it is sold, OG, the proceeds will go to the Exchequer and you will benefit from that in the same way you benefit (or not, as the case may be) from all the cash the government spends on your behalf.

Lloyds bank never did belong to the people. It was always in private hands. All that happened following the banking crisis was that the bank needed to raise funds to heal its balance sheet. The government was the only agency forthcoming with the funds needed and so it became a major shareholder in the bank in return for the funds it provided. What is happening now is that some more of those shares are being sold to reduce the government‘s holding.

You may recall (but perhaps do not agree) that much of Lloyds problems stemmed from their being forced almost over a weekend by the government and the FSA to take over the ailing Halifax Bank of Scotland in late 2008 at the height of the banking crisis. They also suffered as a result of this by having too many branches and this led to the fiasco - forced upon them by the EU - where they tried to dispose of around 600 TSB branches to the Co-Op, with disastrous results. Lloyds helped the government (who would have been forced to rescue HBOS otherwise) and the government helped Lloyds. Better, in my opinion, they use taxpayers’ cash to support UK institutions in trouble than to chuck it down the drain in the form of “Foreign Aid”.

A couple of years ago you could (as I did) have picked up a few Lloyds shares for around 30p. Today they are trading at around 80p. There is nothing to stop anybody buying and selling shares. Thanks to Mrs Thatcher’s “Big Bang” shareholding and trading was opened to all. It is not a closed shop; it is not the exclusive preserve of Old Etonians; you do not have to be one of "a few lucky individuals" to profit. Of course larger shareholders get preference at times when flotations or sell-offs occur. Such is life and in my view it is only fair - discount for bulk and all that. A few people make a good bit of cash from the stock market. Good luck to them, only wish I could do the same. But I don’t begrudge them their profits just because mine are not so great.

[Old_Geezer]

Oh I recall that and I do agree.

Governments 'selling the family silver' is still not something I agree with unless desperate, regardless that the proceeds goes into the kitty. Although I accept folk are allowed to try to make individual cases. The 'good luck' for the buyers is paid for by the sellers, i.e. the taxpayer.

The percentage presently owned isn't really the issue, save for the fact there is an opportunity to buy up more rather than sell. That individuals can, if they can afford it, join in, is really besides the point.

[ToraToraTora]

The tax payer is making a profit.