RBS shares

[Savvy]

Absolutely fuming! Agreeing to sell of shares at a loss whilst preaching austerity must be the one of the biggest piss takes in political history who does this prat think he's fooling?

[Filo]

Absolutely fuming! Agreeing to sell of shares at a loss whilst preaching austerity must be the one of the biggest piss takes in political history who does this prat think he's fooling?

This prat and his mates have fooled the electorate, thats why they have a second term in office

[BillyStubbsTears]

Ask yourself where the Tory Party gets most of its funding from.

It's like Lenin said. You look for the person who benefits...
https://m.youtube.com/watch?v=-eDOJ4L0Edk

[BobG]

For years even the coppers have had it sussed. 'Follow the money' gives the answer to half the crimes in this country.

Billy: why does no one, not no one, ever stand up and say the funding of the Tory party is corrupt, bent, vicious, self serving, and divisive? Why has the Labour Party not fought back on anything at all this last 6 years or so? That slur about 'it was Labour wot did it' has become the accepted truth about the cause of the national debt - yet all sane human beings (i.e not including Mick) know ithat that is simply a succesful political slur. Why does no one ever popint out that funding of the labour Party by trades unions is exactly the same as funding of the Tory Party by businesses? Funding by Trades Unions is in fact more democratic than that by the Tory cronies - yet no one ever points it out.

It's a very curious world. And it's looking more and more like a world where the Labour Party has given up. Not even the Fabian Society opens its mouth these days. what's going on?

BobG

[BRMC_rover]

Definitely. Since 2010, George Osborne's projections for recovery have been catastrophically wrong. Despite this and imposing further Austerity and further cuts to Public services, you would think the last thing you would do to appease the public is ell off shares of our bailed out RBS, back to his friends who irresponsibly were a catalyst the crash in the first place, at 1bn less than their value. It really has become as thought the Tory's either take the stupidity of the electorate for granted, or they just have the next 4 1/2 years to see to their sponsors interests and literally don't care how their activity appears anymore, as long as they finish their own agenda before the next election. I think we will get to mid 2016 and something big will happen. This cant continue and the election process has proved that it only keeps the parties in power who have been ridden with lobbied corporate interest for decades.

[Big MAC]

As we bailed them and effectively have controlling share we should say that if there is any shortfall in the value we get when we sell the shares that amount becomes an outstanding loan that they have to repay at commercial rates of interest! We have already given them a seven(?) Year  interest free loan!

[Savvy]

Exactly BM! For me they wouldn't be sold until the share price reached what we as the tax payer paid for them as an absolute minimum! You'd soon see the hedge fund and pension fund managers clambering to get their hands on them!!

[BillyStubbsTears]

The real obscenity is that the shares are being sold not only at the very bottom of the market, but at a DISCOUNT on the market value. And they are only going to City firms. Exactly the companies who bankroll the Tories.

You'd struggle to find a more egregious example of lining the pockets of your own funders immediately after a successful Election. It stinks to high heaven. But with Labour navel gazing and the press seemingly incapable of ever holding Osborne to account, they will get away with it.

And there is a reason why it is being done within 3 months of the Election. It's because it is 57 months till the next Election and it will have been forgotten about by then.

Politics eh?

[Sprotyrover]

Oh I don't think so 'Browns bottom' has gone down in history, I will start moaning when the Govt has lost out big time on the sale of most of the shares.

[BillyStubbsTears]

Sproty

You over-estimate the effect of these things on anything other than a relatively small number of obsessives (of which you and I are two).

What ever the merits and de-merits of Brown's Bottom, they had bugger-all effect on the General Elections of 2001 and 2005. Or on the public perception of a Brown pre-the 2007-08 global crash (remember that Labour's poll figures went up by a third when a Brown replaced Blair in 2007).

[Sprotyrover]

Your right but I am wary of kicking off with a rant on occasion, after I screamed and shouted when the Tory govt delayed St George's bridge,then 18 months later the real culprits emerged.

[grayx]

Get ready for "IC knobnead" telling you what a great tory success story this has been

[glosterred]

Conveniently forgetting it all went tits up under Labour.

[Glyn_Wigley]

Oh I don't think so 'Browns bottom' has gone down in history, I will start moaning when the Govt has lost out big time on the sale of most of the shares.

Remind me again, just how much did Osborne stiff the voters for when he massively undersold Royal Mail, or is that to be conveniently forgotten too..?

[Glyn_Wigley]

Conveniently forgetting it all went tits up under Labour.

Labour saved the day when they bailed out the banks when they just happened to be the government when it went tits up - that's where the "massive overspending" the tories keep going on about went. It would have been much, much worse if they'd let the banks go to the wall.

[glosterred]

🎣

😀

[Persephonie]

I agree the shares should be sold for the best value possible. However no one can predict the market. It may be that the shares never achieve what Labour paid for them. It may be that now is the best price and in the future the share price will go down. If they were sold then, we'd be sitting on an even bigger loss.

The chancellor can't win. If they go up in value he will be pilloried for selling too cheap. And if they go down in value he will be pilloried for not waiting until the share price e rose to what it was when Labour were in power.

One thing I don't understand is why did Labour pay the full market price when the bank was in so much trouble? Surely the price paid should have been a lot lower given the desperate circumstances? Shouldn't the shareholders have taken at least a bit of a hit?

[Savvy]

Oh I don't think so 'Browns bottom' has gone down in history, I will start moaning when the Govt has lost out big time on the sale of most of the shares.

Remind me again, just how much did Osborne stiff the voters for when he massively undersold Royal Mail, or is that to be conveniently forgotten too..?

And the 4G license sell off that was supposed to net the treasury 20 billion and raised 4 billion (after getting critised for selling the 3G licenses too cheaply!) and the selling off of the countries share in the Euro Tunnel the year after it returned its first dividend of 18 million to the British tax payer shouldn't be forgotten either!!