Comments | casaubon: Suddenly you wake up owning a bit of a bank

casaubon

Suddenly you wake up owning a bit of a bank - Go Socialism!

Oct 13, 2008 10:15

The government is to inject up to £37bn of taxpayer cash into Royal Bank of Scotland (RBS) Lloyds TSB and HBOS.

Taxpayers will own about 60% of RBS and 40% of the merged Lloyds TSB and HBOS.Various chief executives and bank chairmen are quitting. Which isn't really a surprise, since they were obviously rather crap at their jobs ( Read more... )

news, politics, economy

Comments 10

saare_snowqueen October 13 2008, 09:39:41 UTC

This morning's Guardian has an article - several actually about the crisis. It seems Brown has done a good job of getting the European Banking system to agree on a similar plan. His approval ratings seem to be rising. I like him better than Cameron who seems to me another pretty boy Tony Blair in the making - lottsa style - less substance.

casaubon October 13 2008, 09:56:59 UTC

Cameron is basically Blair-lite.
Blair did have some strong personal convictions, though they rarely showed above the spin. He managed to complete the changes to the Labour party that Kinnock and Smith began, whereas Cameron is just applying a veneer of pleasantness to the old nasty Tory party.

He'll almost certainly still win, unless Brown manages to perform an economic miracle.

unless Brown manages to perform an economic miracle saare_snowqueen October 13 2008, 10:22:01 UTC

Don't count him out - yet. Money talks - bullshit walks , as they say in the ole US of A. The next year in UK politics is going to be interesting I think.

maybe... casaubon October 13 2008, 10:44:46 UTC

The main thing he's getting out of the crisis is a more stable party. The backbiting and rumours of leadership challenges have stopped. This means there's less negative press attention on him.

And if Obama wins in the USA, he'll have an American president he can talk to without holding his nose, so that'll help too. If troops can be withdrawn from Iraq with a modicum of honour, he might pull off a hung Parliament.

Thread 5

donnickcottage October 13 2008, 12:55:48 UTC

So maybe if I ever come over to visit, you can take me on a tour of your new digs!

casaubon October 13 2008, 14:57:10 UTC

I'm not sure which bit of the bank I now own. I'm sure someone will let me know soon!

donnickcottage October 13 2008, 17:12:47 UTC

I'm hopin it's the VAULT!!! But it's probably the janitor's closet:)

casaubon October 13 2008, 17:50:41 UTC

The vaults are EMPTY, haven't you been watching the news?!?!?!

Thread 5