bankers unhappy

[Sockpuppet]

http://news.bbc.co.uk/2/hi/business/7836624.stm

"Lloyds is said to be unhappy about the government gaining majority control."

Well tough tulip. The alternative is that we let you go tits up....bunch of *******.

[Cyberman]

A little bit of Schadenfreude in me says 'I told you so', because when the Rock were nationalised I predicted that because it was a liquidity issue, other banks would follow by being snapped up by HMG in due course. The Rock received absolutely no backing from the other banks or other shareholders so as far as I am concerned they can all go and rot, and will get no sympathy from me !!

[thelace]

http://news.bbc.co.uk/2/hi/business/7836624.stm

"Lloyds is said to be unhappy about the government gaining majority control."

Well tough tulip. The alternative is that we let you go tits up....bunch of *******.

Unhappy eh?

What about the countless thousands that are "slightly miffed" about loosing their jobs?

And those that are "a tad upset" by having their pension savings whittled down to nothing?

Bankers have turned the whole bloody world upside down. Have any of them fallen on their sword? No.

But then we've bailed them out to the tune of billions, they're unhappy that we're clipping their wings?

Tough tulip!

[Doggy Styles]

That Lloyds chap does have a point. Whatever they've done, you can be sure that the government will do worse.

[TykeMerc]

What the hell are these bankers smoking?

They must have known that the price of massive bail out was a very significant shareholding amounting to a controling share at the very least. Would they have preferred to have gone to the wall completely as a result of their bad lending and esoteric investment vehicles? That was their only other alternative.

[Cyberman]

What the hell are these bankers smoking?

They must have known that the price of massive bail out was a very significant shareholding amounting to a controling share at the very least. Would they have preferred to have gone to the wall completely as a result of their bad lending and esoteric investment vehicles? That was their only other alternative.

If it's a liquidity issue then loans are the fairest solution because liquidity is the duty of the BofE to provide as 'Lender of the Last Resort', but if it is debt then of course a stake can be justified, but Brown has already done enough damage to pension funds and this measure is exacerbating the problem. The stake should be proportionate to the debt but Brown is using it as a pseudo nationalisation which is tantamount to theft from shareholders and pension funds.
A stake in Northern Rock could never be justified for that reason, because it was purely a liquidity issue.