Originally posted by Moscow Mule
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Agree...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...
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Okay, yes running deficits during good years is a bad idea. Any economist knows that - and I think el Gordo had to modify his Golden Rule didn't he? But much of the deficit and debt has been caused by bailing out - to eye watering levels - the banks. Who've said "thank you, now f**k off". They didn't really need to fully bail out the banks...the investment bits could have been left out. But, of course there is a revolving door between no10 and The City. Cabinet geezers realise the potential for board seats on banks and large donations could disappear if that happened. I've no doubt the banks are doing what they did before, again.McCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error."Comment
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Tha bank bailout was an investment wasn't it? I thought the only reason the banks haven't repayed it yet is because the government wants to hold on to their investment for a while until it grows significantly more.
Maybe that's why they are allowing the banks to do whatever they have to in order to get the most out of their investment.. Nice trade Darling
I saw something about some RBS shares being sold back next year though:
UK may start selling £46 billion RBS stake - report
Try explaining that to a bunch of rioting students or daily mail readers...UK Financial Investments (UKFI), the body managing Britain's 67 billion pound bank stakes, is not expected to sell them until they are in profit, and not before an independent commission has released a September report on whether banks should be broken up or weakened to improve competition.
"Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon MuskComment
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An investment bought with debt. So...in theory...the govt. will sell its shares and pay off its debt that way.
Yes I read something in the FT about how the govt. has to decide whether to split the banks (RBS, LLoyds-HBOS, Northern Rock) into separate parts...or let them fatten up before selling them on.
FT.com / UK / Politics & policy - RBS raises hopes of privatisation
Choices, choices...McCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error."Comment
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A bit like buying a BTL with a 100% mortgage and putting the deposit on a credit card..Originally posted by lilelvis2000 View Post"Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon MuskComment
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