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It looks as if the Governments investment in bailing out Lloyds has turned a small profit.
http://www.thefirstpo...crisis-recession-over
Perhaps if this continues the Government can give up taxing us and raise money by speculating on the stock exchange!
Like they did in the South Seas bubble - how did that turn out?
http://www.thefirstpo...crisis-recession-over
Perhaps if this continues the Government can give up taxing us and raise money by speculating on the stock exchange!
Like they did in the South Seas bubble - how did that turn out?
Answers
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That was always the theory and this £10bn is a step in the right direction, but it will be a long time yet before we see all our money back.
// The commitments include buying £76bn of shares in Royal Bank of Scotland and the Lloyds Banking Group; indemnifying the Bank of England against losses incurred in providing more than £200bn of liquidity support; guaranteeing up to £250bn of wholesale borrowing by banks to strengthen liquidity; providing £40bn of loans and other funding to Bradford & Bingley and the Financial Services compensation Scheme; and insurance cover of over £280bn for bank assets. //
The secret will be wait to get our money back. However, the Tories have a crazy plan (though it hasn't been mentioned at all this the day it was revealed) to privatise these state owned banks and sell the shares at a huge discount (ie. at a loss).
http://www.dailymail....tate-owned-banks.html
// The commitments include buying £76bn of shares in Royal Bank of Scotland and the Lloyds Banking Group; indemnifying the Bank of England against losses incurred in providing more than £200bn of liquidity support; guaranteeing up to £250bn of wholesale borrowing by banks to strengthen liquidity; providing £40bn of loans and other funding to Bradford & Bingley and the Financial Services compensation Scheme; and insurance cover of over £280bn for bank assets. //
The secret will be wait to get our money back. However, the Tories have a crazy plan (though it hasn't been mentioned at all this the day it was revealed) to privatise these state owned banks and sell the shares at a huge discount (ie. at a loss).
http://www.dailymail....tate-owned-banks.html
Well I don't think anyone will argue about re-privatising the banks.
Banks aren't really the sort of things that need to be in public ownership.
I guess selling at a loss might make sense for them if they can blame the last government and cut losses for short term advantage.
But I can't see them getting that past Vince Cable
Banks aren't really the sort of things that need to be in public ownership.
I guess selling at a loss might make sense for them if they can blame the last government and cut losses for short term advantage.
But I can't see them getting that past Vince Cable
How gutting it will be for Gordon Brown, eh
He was criticise by many people , including the tories for pumping billions into these banks . Now they are about to turn a profit , it's looking like Cameron will be at the reins , to claim the credits, unjustifiably .
By the way what post will Nick Clegg be given in the con/lib alliance , given that he could work with the Labour party , but not with Brown ?
He was criticise by many people , including the tories for pumping billions into these banks . Now they are about to turn a profit , it's looking like Cameron will be at the reins , to claim the credits, unjustifiably .
By the way what post will Nick Clegg be given in the con/lib alliance , given that he could work with the Labour party , but not with Brown ?
I agree Jake , it does seem an unlikely alliance , on the face of it .
Given however that the polls ( if they are to be believed ) are constantly indicating
a hung parliament with the tories just in front ; and additionally Clegg stating that he wouldn't be able to work with Brown - I can see Cameron doing whatever it takes, in order to get into Number 10 .
Given however that the polls ( if they are to be believed ) are constantly indicating
a hung parliament with the tories just in front ; and additionally Clegg stating that he wouldn't be able to work with Brown - I can see Cameron doing whatever it takes, in order to get into Number 10 .
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