I'd better think about moving my business account away from NatWest
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Banking success stories; RBS
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Based on the very juicy contract to perm packages they were offering I'm not supprised there in a loss.I like big butts and I cannot lie.Comment
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Originally posted by tarbera View PostI here a massive contractor Kull will take place over the next few weeks (biggest ever) with no notice, collect your stuff and go + no renawals even on promised ones
bigger bench will be required in 2 week timeComment
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Originally posted by doodab View PostI hate to point out the obvious, but it's because it stood to loose billions on bad loans that no one would lend it money and it needed bailing out.
The only sensible question is whether it would have been better to let it fail catastrophically at the time.Comment
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Originally posted by The Spartan View PostI'd better think about moving my business account away from NatWestComment
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Originally posted by doodab View PostI hate to point out the obvious, but it's because it stood to loose billions on bad loans that no one would lend it money and it needed bailing out.
The only sensible question is whether it would have been better to let it fail catastrophically at the time.Knock first as I might be balancing my chakras.Comment
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Originally posted by Mich the Tester View PostProbably not, but it might yet be better to wind it down in an orderly fashion if that's possible.While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'Comment
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Originally posted by NorthWestPerm2Contr View PostThe obvious answer is yes - pay £50k to all those who have accounts with them would be cheaper than all these billions.
You have to factor in that RBS had £2.4bn of assets and a similar amount of liabilities. Savers deposits were a tiny fraction of those liabilities, in total they had something like £600bn of deposits from businesses, governments etc, and the rest was money borrowed from the market. Without the capital injection they would have defaulted on much of that, losses that businesses and other financial institutions would have had to absorb. The knock on effect on businesses would likely have damaged the economy considerably more than £46bn of additional government borrowing has, that's only about 4 months worth of the current deficit.Last edited by doodab; 27 February 2014, 12:40.While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'Comment
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Originally posted by Mich the Tester View PostComment
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Also Govt got shares for that money, so even if that money is spent Govt got something that might have value, possibly negative if more cash is required ...Comment
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