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RBS, HBOS, Lloyds & Barclays to ask for £40billion tomorrow
Seajays
Posts: 100 Forumite
Also http://news.bbc.co.uk/1/hi/business/7665823.stmA quartet of our biggest banks have been negotiating all day today (Sunday) - and will continue to do so all through the night - with the Treasury, the Bank of England and the Financial Services Authority about how much capital we as taxpayers need to invest in them.
Right now it looks as though first thing tomorrow Royal Bank of Scotland, HBOS, Lloyds TSB and Barclays will announce they're raising up to £40bn in total.
...
The chief executive of RBS, Sir Fred Goodwin, is expected to resign.
http://www.bbc.co.uk/blogs/thereporters/robertpeston/
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Comments
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This was from one year ago almost to the day. RBS wins in the battle to buy ABN Amro!
http://www.bbc.co.uk/blogs/thereporters/robertpeston/2007/10/rbs_wins_or_does_it.html
Goodwin, RBS's boss, made a big bet and it lost. But if the bet won, he would no doubt have expected a huge bonus to compensate him for offering his genius to RBS shareholders. What an absolute swine.
Read some of the comments. They range from the prescient to the wilfully blind.0 -
Hmmm, maybe I won't buy £10k of RBS shares tomorrow after all.....0
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Hmmm, maybe I won't buy £10k of RBS shares tomorrow after all.....
Surely stocks will be at their lowest the day after this news (Or near lowest)..
If you're looking for a long term investment, and you don't mind gambling on nationalisation then this could be a reasonable risk investment. Maybe.
I can't wait to see the drop tomorrow in rbs. It's going to be amazing.Savings
£14,200 with £1100 M.I.A. presumed dead.0 -
I have just read in the paper that the top bod of Barclays earned 22 million in bonus!!!!
Maybe he would like to pay some back!0 -
Well that's the thing - if nationalised, then the govt would (surely) have to pay shareholders for their holdings - even if it's a penny a share. So the only risk is that the govt takes RBS over.
The Queen and the great and good bank with Coutts, owned by RBS, so they will, I imagine, be among the last to be nationalised...................?0 -
Only 74 shopping days till Xmas :xmassign::xmastree:0
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Last year the government did not pay £30 million to pay the settlement they had agreed with the police. They could not afford it.
Barclays chief executive could give his bonus back along with the rest of his board and that would cover it.
It sickens me that we the general public are now going to bail these people out.0 -
22m is less then 1% of the profits Barclays announced in their last results. I think they should receive all pay in shares not available for sale for 10 years then if they dont screw up they get the money and pay extra tax on the share sale. BB & NR chief would get zero pay
also that rbs guy for buying a bank after NR had nearly fallen over and the mortage debt problem was known
If you've got 10k to waste on shares then dont buy all at once. Split that by 12 and spend the next year buying would make more sense imo
Do the public get a chance to have 10% preference shares or not?0 -
I have already been burned on B & B shares so is RBS are more f**ked than B&B then its not for me.
But if the have a strong future then someone will make some money, good luck.0 -
They will have received an extra 32bn in funding for this year, which is a third of hsbc market capital in cash. Plus all their loans will be underwritten by govenment with AAA credit rating, if they still manage to screw up it would be a wonder that they ever made a profit and I remember natwest alone was making 2bn yearly
The market apparently values rbs as if they had wiped out the last 15.5 years of share growth through their actions0
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