Abu Dhabi Royal Family outmanoeuvres Gordon Brown (re Barclays)

Generali

purch wrote: »

Yes.....we all know that !!!!!! :eek:

Oooh you out of context quotist.

itsnever2lateisit?

In round one of the Bank bailout Barclays made it clear they did not want any government help, the Government should respect that wish, and leave Barclays to the whim of market forces

Generali

itsnever2lateisit? wrote: »

In round one of the Bank bailout Barclays made it clear they did not want any government help, the Government should respect that wish, and leave Barclays to the whim of market forces

They won't though because they've made it clear that banks will be nationalised before they're allowed to go bust.

Radiantsoul

Generali wrote: »

They won't though because they've made it clear that banks will be nationalised before they're allowed to go bust.

Presumably the government could guarantee all depositors and allow all shareholders to be wiped out though. I believe something not dissimiliar happened with National Rail.

StevieJ

Generali wrote: »

They won't though because they've made it clear that banks will be nationalised before they're allowed to go bust.

Are you saying that Amanda may have cost the Saudis a few billion rather than the other way round

Generali

StevieJ wrote: »

Are you saying that Amanda may have cost the Saudis a few billion rather than the other way round

If I were the UK Government I'd be careful of upsetting creditor nations like our Saudi friends right now. All these bailouts, deficit spending and welfare bills aren't going to come cheap.

StevieJ

Amanda Staveley, who advised the Middle East investors for a £40m fee,

What were you all saying about the Northern Rock bonuses :eek:

kennyboy66_2

StevieJ wrote: »

Amanda Staveley, who advised the Middle East investors for a £40m fee,

What were you all saying about the Northern Rock bonuses :eek:

I belive PCP got £110 million in total.

The Abu Dhabi holding company also got a collossal 4% "commission.

The reserve capital instuments pay 14%, which Barclays have to pay for 10 years.

The capital raising cost more than £300m, to get a deal than was manifestly worse than the one that Barclays could have got from the government.

It does mean that Bob Diamond (pay last year £21m) and Roger Jenkins (£58m) can continue to receive as much as they want without government intervention.

Could this possibly have influenced their decision ?

Who needs the Government to trample over shareholders rights when this goes on. It smacks of desparation & corruption.

chucky

kennyboy66 wrote: »

It does mean that Bob Diamond (pay last year £21m) and Roger Jenkins (£58m) can continue to receive as much as they want without government intervention.

Could this possibly have influenced their decision ?

Who needs the Government to trample over shareholders rights when this goes on. It smacks of desparation & corruption.

I appreciate Barlays Capital was contributing about 40% of Barclays total profits for the last number of years but not sure if they would have that much influence.

tirano

Call their bluff - let Barclays go under