RBS going out of business after all ?

[Mich the Tester]

Effectively they spent billions buying a bank which has gone on to lose billions.

…and which was a crock of tulip before it was sold. The man who ran it was only ever interested in selling it. First he tried to sell it to ING but they had a look at the management and decided they didn’t want it. Then he tried to sell it to Barclays but they had a look at the books and decided they didn’t want it. Then along come RBS and bought it without even so much as kicking the tyres. Looks like incompetence on the part of RBS.

[PM-Junkie]

…and which was a crock of tulip before it was sold. The man who ran it was only ever interested in selling it. First he tried to sell it to ING but they had a look at the management and decided they didn’t want it. Then he tried to sell it to Barclays but they had a look at the books and decided they didn’t want it. Then along come RBS and bought it without even so much as kicking the tyres. Looks like incompetence on the part of RBS.

...and yet still nobody has been fired for incompetence. Funny ol' thing eh?

[ookook]

Was anybody shorting this? Happy days if you were.. (unfortunately I wasnt )

[JoJoGabor]

I love this "Expert Opinion" on Yahoo FInance...

BRUCE PACKARD, BANKING ANALYST, EVOLUTION SECURITIES

"Following various announcements we could see a bounce this morning, in all the banks ex RBS, because the rest of the sector is not being forced to recapitalise, and therefore there is no further dilution to equity shareholders. Fundamentally though we would steer clear and concentrate on sectors which can be analysed rationally.

"We expect the UK Govt to try to solve the obesity crisis next week, by nationalising the supermarkets, so that they can then resume the supply of cheap doughnuts to fat people."

[TheFaQQer]

Then await the shareholders to sue......

Won't be too much to sue over soon...

When the share price drops to 0p, the government can buy them all for not too much.