Buy RBS?

planteria

i agree. that would have been the radically different approach that was required too.

Thrugelmir

Glen_Clark wrote: »

Iceland bailed out domestic retail depositors,

The UK taxpayer footed the bill. The then FSA funded the payouts. To fund the payouts an increased levy was imposed on UK retail banks to recover the money.

RBS asset wise was the largest bank in the world with operations in 57 countries. So the collapse would have had far reaching implications.

mark55man

The Iceland banks where clearly risky - the risk happened, but the government bailed ther "average UK investor" out - even though this included Councils who should have known better


all those who had put their money in a riskier asset for higher return should not have been recompensed when it went wrong

Glen_Clark

Thrugelmir wrote: »

The UK taxpayer footed the bill. The then FSA funded the payouts. To fund the payouts an increased levy was imposed on UK retail banks to recover the money.

RBS asset wise was the largest bank in the world with operations in 57 countries. So the collapse would have had far reaching implications.

So if the taxpayer gets the money back it will come from institutions and their customers who did the right thing and were in no way responsible for RBS. How is penalizing the totally innocent better than penalising those responsible and their investors in 57 other countries who chose to risk their money in RBS?

bigadaj

Thrugelmir wrote: »

The UK taxpayer footed the bill. The then FSA funded the payouts. To fund the payouts an increased levy was imposed on UK retail banks to recover the money.

RBS asset wise was the largest bank in the world with operations in 57 countries. So the collapse would have had far reaching implications.

I thought he meant Icelandic domestic depositors.

It certainly wouldn't be straightforward as we saw with lehmans, money being moved about internationally through different bits of the business and governments and country regulators probably arguing about what assets belong to whom.

Fuzzythinking

In regard to RBS, don't buy them now. It would be better to buy RBS at £3 and sell it above £3.50

F.

bigadaj

Fuzzythinking wrote: »

In regard to RBS, don't buy them now. It would be better to buy RBS at £3 and sell it above £3.50

F.

I prefer buying at £2 and selling at £5 personally but everyone's different.

mark55man

£2 - I think that's where it will be this this time next year - can't see anything but bad news for a while