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RBS has lost all of the taxpayer bailout

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Comments

  • ERICS_MUM
    ERICS_MUM Posts: 3,579 Forumite
    Part of the Furniture 1,000 Posts
    CLAPTON wrote: »
    my reference to NR was that it was split into two: not that it was a black hole.

    in reality it never was truly insolvent ; it just needed time to resolve it's cash flow problems due to the shortage of inter bank lending.

    I blame Robert Preston for single handedly causing a run on NR
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    ERICS_MUM wrote: »
    I blame Robert Preston for single handedly causing a run on NR

    yes that is probably true

    a rather foolish man.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ERICS_MUM wrote: »
    I blame Robert Preston for single handedly causing a run on NR

    Would have happened anyway. The business was insolvent.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    Would have happened anyway. The business was insolvent.

    all banking is based on lending long and borrowing short

    in that sense all banking is insolvent as a bank can't realise it's assets (mortgages, loans etc) in the short term

    I'm not aware that the bank's assets were less than it's liabilities other than in liquidity terms.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    Businesses that over trade often fail due to lack of capital and liquidity.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Shoulda let them go bust.

    How many cancer operations could have been done with this money? It's a nonsense.
  • wotsthat
    wotsthat Posts: 11,325 Forumite
    Generali wrote: »
    Shoulda let them go bust.

    How many cancer operations could have been done with this money? It's a nonsense.

    Northern Rock, HBOS fair enough but RBS too?

    No extra cancer ops would have been carried out with the money - we know that. It's like saying a banker's bonus would pay for x new nurses - it's a way of making the value 'real' rather than offering a choice.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Generali wrote: »
    Shoulda let them go bust.

    How many cancer operations could have been done with this money? It's a nonsense.

    do you mean without any compensation for the depositors both personal and business customers?
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    CLAPTON wrote: »
    do you mean without any compensation for the depositors both personal and business customers?

    There was a compensation limit in place. That should have been recognised.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    wotsthat wrote: »
    Northern Rock, HBOS fair enough but RBS too?

    No extra cancer ops would have been carried out with the money - we know that. It's like saying a banker's bonus would pay for x new nurses - it's a way of making the value 'real' rather than offering a choice.

    It's rather different.

    When a banker gets a bonus for adding value to the bank it hasn't taken money out of nurses' pockets. Actual tax money has been given to RBS which is money out of nurses' pockets.
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