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The government wants to accelerate the disposal of its shares in RBS and Lloyds Banking Group, rescued at a combined cost to taxpayers of 66 billion pounds ($102 billion)during the 2007-9 financial crisis.

It has already sold nearly half of its 41 percent stake in Lloyds but has yet to start selling its 80 percent stake in RBS, which received a 45.2 billion-pound state bailout.

You couldn't make it up could you ?

I think I can probably hazard a guess as to which political party the prospective shareholders' sympathies lie.

If they're going to sell the shares they should aim to sell them for full market price, or at a profit.

FourPart;1480388 wrote: I think I can probably hazard a guess as to which political party the prospective shareholders' sympathies lie.

If they're going to sell the shares they should aim to sell them for full market price, or at a profit.


They're currently sitting at £3.51, still well below the option price of £3.80 and not even in sight of the £5 that the government would need to make a profit.

Trouble is, if the government sell off their holding it will flood the market and drive the price down to virtually nothing.

Rats, there goes my retirement fund

Bryn Mawr;1480409 wrote: Rats, there goes my retirement fund


And they don't care........meanwhile HSBC is cutting back worldwide.

Funny..........this pruning is from the bottom..............it's normally from the top isn't it ?

Bruv;1480410 wrote: And they don't care........meanwhile HSBC is cutting back worldwide.

Funny..........this pruning is from the bottom..............it's normally from the top isn't it ?


From experience the first reaction is to cut the number of people doing the job and expect the rest to take up the slack, bottom up to middle management, then close branches and only them look to make upper management cuts.

Within IT that meant making it almost impossible to raise a project to change one of the systems even if that change would save ten times the amount it would cost - because it would require staff to carry out the work and the headcount was capped for "cost cutting".

I think it was from some episode of Tales Of The Unexpected I saw ages ago which described it pretty well. The story was based in a hospital where the allocation of treatment was determined by the patient's usefulness to society. As a result of this, if a department was doing well & working efficiently, working under budget of its allocation of medicines, then the bureau would determine that it didn't need as much as it was getting in the first place & would amend the budget accordingly. Then, the lead character in the story got the department to operate below efficiency levels & operate over budget, putting in applications for far more things than it was supposed to, and because of the increase in demand the budget was raised accordingly.

In other words, strive to work efficiently & you will be penalised for it. Be wasteful & demand more, you're probably more likely to get it.

It was to be expected though right wing tory policies have caused irrepairable damage to this country and labour are just as bad because they have moved to the right. When they start to porivtise the NHS maybe people will wake up and realise what they are losing.

Wouldn't be so bad if they reciovered the money from the bail out meanwhile have you seen anyione go to jail?

gmc;1480491 wrote: Wouldn't be so bad if they reciovered the money from the bail out meanwhile have you seen anyione go to jail?


What? And lose all those lovely donations to the Tory Party?