"The UK holds £850 billion in banking assets from the bailout"

[minestrone]

This claim turned up on my desk this week in a leaflet made by the PCS union. (I'm in a goverment owned financial these days )

I am guessing that the amount is what the government guaranteed rather than what they actually have but I am guessing on that, in fact I have no idea how they are quoting that sum in that context. Market cap on RBS shows 38 billion and LLoyds 29.75bn. Any ideas?

(Other than that they want to increase the public sector workforce, increase taxes and stop hiring consultants. So when they get rid of me and I turn down the permie amount on offer someone else has to pay to get a member of staff that I pay for with my yearly tax contribution)

[MarillionFan]

This claim turned up on my desk this week in a leaflet made by the PCS union. (I'm in a goverment owned financial these days )

I am guessing that the amount is what the government guaranteed rather than what they actually have but I am guessing on that, in fact I have no idea how they are quoting that sum in that context. Market cap on RBS shows 38 billion and LLoyds 29.75bn. Any ideas?

(Other than that they want to increase the public sector workforce, increase taxes and stop hiring consultants. So when they get rid of me and I turn down the permie amount on offer someone else has to pay to get a member of staff that I pay for with my yearly tax contribution)

Are they talking about the mortgage contracts that they hold on peoples houses?

[minestrone]

Are they talking about the mortgage contracts that they hold on peoples houses?

They must be talking about debt in some way, I assume, clearly they never understood the debt crisis if that is the case.

[MarillionFan]

They must be talking about debt in some way, I assume, clearly they never understood the debt crisis if that is the case.

Royal Bank of Scotland Group - Wikipedia, the free encyclopedia

Must be talking about the assets. $1.4 Trillion for RBS on Wikipedia for 2010. I assume that's going to include the total value of houses they have mortgages against. Remember when you take out a mortgage the bank holds the deeds until you've paid it off. Effectively they own your house.

So for Northern Rock, RBS and Lloyds. I reckon if you work out their assets and then multiply by the percentage the UK government own of each bank you'll land up with a 'The UK owns X Billions of Assets'.

Stoopid if you ask me.

[minestrone]

I thought that but can the PCS state that my house is the goverment's asset when I have agreed to pay off my NR loan.

They are saying that the public have to pay off the goverment's debt which was the banks debt and now the nation are not in debt anymore.

And then again if RBS et al are public banks with assets of 1.3 trillion then they must have some amount of debt according to the unions that they never factor into the offest to make a sum of 850 billion when the are probably worth 100 billion to the state.

Does anyone in the unions think this through?

[scooterscot]

What's the point?

[minestrone]

What's the point?

Of this thread?

[scooterscot]

Of this thread?

yes

[minestrone]

yes

I am providing evidence the unions are drumming up support for strikes based on completely false information which cannot be challenged.

[scooterscot]

I am providing evidence the unions are drumming up support for strikes based on completely false information which cannot be challenged.

I see. I don't do unions me, so I'll leave this thread alone now.