[UK] Government to own majority of RBS [Royal Bank of Scotland]

Discussion in 'Current Events' started by edesignuk, Nov 28, 2008.

  1. Moderator emeritus

    edesignuk

    Joined:
    Mar 25, 2002
    Location:
    London, England
    #1
    BBC.

    :eek: RBS seem to be in half the of the office space in the Square Mile, it's just incredible to think they have such big problems.

    A former colleague of mine who went to RBS said he'd visited their head offices in Scotland. It's like a small town, there's a golf course, a Tesco, the whole area might even have it's own postcode.
     
  2. Lau
    Guest

    #2
    They do, and they own loads of other banks and other stuff like Direct Line.

    It's mad – it's out by Edinburgh airport and it's like Bluewater with offices attached. :D It does have it's own postcode, yes.
     
  3. Moderator emeritus

    robbieduncan

    Joined:
    Jul 24, 2002
    Location:
    London
    #3
    So, who actually believes that the government will be able to resist meddling and forcing RBS to act against it's best commercial interests? I predict a lot of pressure to offer mortgages to those who should not receive them, not reposes the houses of those who will never pay and the like. This in turn will make RBS far more difficult to sell on when the time comes shooting a future government in the foot. Nice :(
     
  4. Moderator emeritus

    Joined:
    Jul 4, 2004
    #4
    I thought it was 'commercial interests' that got us into this mess in the first place?
     
  5. Moderator emeritus

    robbieduncan

    Joined:
    Jul 24, 2002
    Location:
    London
    #5
    It was. But now the government are being very two faced. On one hand they keep says "The banks should go back to the old ways, only lending responsibly". On the other they keep saying "The banks have a duty to lend at cheap rates to keep credit in the system, propping up the housing market and keeping people spending". Which one wins votes?
     
  6. Moderator emeritus

    Joined:
    Jul 4, 2004
    #6

    When I arrived here in the UK in 1989, many people I knew were salivating about property prices going up, house values were the talk in the pub. This sort of valueless speculation has been going on for over two decades; it's now entrenched as conventional wisdom while UK manufacturing has been gutted.

    Unfortunately, this government are in a tough position. Unlike the incoming Obama administration, they don't have the political capital to start talking of sacrifice and tough times.

    We've seen the Hillary mashup of 'Downfall'. Here's the real estate version. :D
    http://www.youtube.com/watch?v=bNmcf4Y3lGM
     
  7. thread starter Moderator emeritus

    edesignuk

    Joined:
    Mar 25, 2002
    Location:
    London, England
    #7
    ...and now...

    BBC.
     

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