The Rock WAS victimised

[Platypus]

You obviously are not aware that HMG have stated in February 2008 that they want NRK valued as if it were bankrupt.... ie: as if the government loans had not been made.
Lloyds had offered 4 quid a share just before HMG leaked their 'moral hazard' story to the BBC via Peston, which caused the run.
I don't see how offering shareholders zero equates with the way that the other banks have been treated.
Personally, I'd be happy if HMG just let us keep our shares and denationalise. After all, nationalisation was a mistake of horrendous proportions and has reduced liquidity in the mortgage market by up to 50 Billion pounds and exacerbated the problems in the money markets.

Anyway, the Judicial Review on 12th/13th Jan will be very interesting !!

Ah now your agenda is clear! You invest in a business that goes bankrupt than expect a taxpayer bailout. Tough

[Cyberman]

Ah now your agenda is clear! You invest in a business that goes bankrupt than expect a taxpayer bailout. Tough

If it had gone bankrupt, fine, but as we all know it is a going concern, only needed a large loan for liquidity reasons (half of which was required due to HMG negligence in causing a run via HMG, Peston + BBC) and HMG are looking to make billions on a refloat. That is robbery from the shareholders.
If the company had gone into administration I could accept it, but there were many offers on the table which HMG refused in order to rob shareholders and make a killing, as admitted by Darling.
NRK have now also cleared most of that loan in just under a year and was told to repay by 2010, which caused one potential buyer to withdraw , whereas other banks have been given unlimited time to repay, and they also had billions of US subprime which NRK did not have. It stinks and I am sure that we have a great case for January 13th.

[threaded]

Bit like Whittards really.

[Gonzo]

If it had gone bankrupt, fine, but as we all know it is a going concern, only needed a large loan for liquidity reasons (half of which was required due to HMG negligence in causing a run via HMG, Peston + BBC)

Of course, the whole credit crunch / financial crisis / recession is Robert Peston's fault. If it wasn't for him telling us about it it would not be happening.

[Gonzo in "Lets shoot the messenger" mode]

[Cyberman]

Of course, the whole credit crunch / financial crisis / recession is Robert Peston's fault. If it wasn't for him telling us about it it would not be happening.

[Gonzo in "Lets shoot the messenger" mode]

If he had not scared the hell out of depositors, the Rock would have needed to borrow 14 billion pounds less from the BofE.
With a competent government a liquidity solution could easily have been found without having the first run on a bank in living memory. Of course HMG did not want that, because they quite clearly must have had ulterior motives to deprive shareholders of their equity and thus leaked to Peston.
Little did they know though that the same problem was going to affect all other banks throughout the world. For some unknown reason only I appear to have realised this. Perhaps its our education system that is also a problem nowadays!!

[gingerjedi]

As we know the Rock was the first of many banks to get into trouble, it was first because it had the worst business model, you 'done yer nuts' ...get over it.

Do you honestly think Branson would have saved it? In hindsight I'm pretty sure he's glad he never got involved as it would have very probably brought down his empire, knowing what we know now the financial backing he had in place would have crumbled in no time.

[Cyberman]

As we know the Rock was the first of many banks to get into trouble, it was first because it had the worst business model, you 'done yer nuts' ...get over it.

Do you honestly think Branson would have saved it? In hindsight I'm pretty sure he's glad he never got involved as it would have very probably brought down his empire, knowing what we know now the financial backing he had in place would have crumbled in no time.

What we do know is that HMG and the BofE wrecked the Rock by their incompetence. They now expect to profit by refloating the company for Billions of pounds while depriving shareholders of their property.
HMG should not be allowed to benefit by virtue of its negligent actions. The court case will determine this and commonsense says that HMG should not profit or they will try this ploy again by leaking or other methods to kill share value, in order to cheaply nationalise other companies, as they also tried to do with Railtrack.

Not long to wait now.

[tim123]

If it had gone bankrupt, fine, but as we all know it is a going concern, only needed a large loan for liquidity reasons (half of which was required due to HMG negligence in causing a run via HMG, Peston + BBC) and HMG are looking to make billions on a refloat. That is robbery from the shareholders.
If the company had gone into administration I could accept it, but there were many offers on the table which HMG refused in order to rob shareholders and make a killing, as admitted by Darling.
NRK have now also cleared most of that loan in just under a year and was told to repay by 2010, which caused one potential buyer to withdraw , whereas other banks have been given unlimited time to repay, and they also had billions of US subprime which NRK did not have. It stinks and I am sure that we have a great case for January 13th.

I really cannot believe that an intelligent person honestly believes that bunch of nonsense

tim

[BrilloPad]

If it had gone bankrupt, fine, but as we all know it is a going concern, only needed a large loan for liquidity reasons (half of which was required due to HMG negligence in causing a run via HMG, Peston + BBC) and HMG are looking to make billions on a refloat. That is robbery from the shareholders.
If the company had gone into administration I could accept it, but there were many offers on the table which HMG refused in order to rob shareholders and make a killing, as admitted by Darling.
NRK have now also cleared most of that loan in just under a year and was told to repay by 2010, which caused one potential buyer to withdraw , whereas other banks have been given unlimited time to repay, and they also had billions of US subprime which NRK did not have. It stinks and I am sure that we have a great case for January 13th.

If it had not done 125% loans it would not have gone bankrupt.

[Cyberman]

Brillopad, this just shows your ignorance, because the Rock did not go bankrupt and their problems had nothing whatever to do with subprime lending.