Nationalisation for HBOS and RBS !!

[Stan.goodvibes]

HMG is buying 70% of HBOS and 50% of RBS and taking a controlling stake, and will put their stooges on the boards. This is a return to the Labour party manifesto of 1983, and is thus effectively nationalisation, and a stealth tax on all shareholders

While I am not a New Labour supporter, right now I can't imagine anyone doing a worse job of running the banks than the current group of incumbents. When the govt has to intervene to save your sorry ass, you just *know* you have done a crap job, and deserve to be ridiculed and replaced.

Perhaps once those 'stooges' get onboard, they might be able to remind the (hopefully new team of trained monkeys) management team how to run a bank i.e. loan out some of the money they are hoarding.

Even if it is a form of stealth tax on shareholders, this has got be preferable to your shares ending up as worthless bits of paper.

[DiscoStu]

HMG is buying 70% of HBOS and 50% of RBS and taking a controlling stake, and will put their stooges on the boards. This is a return to the Labour party manifesto of 1983, and is thus effectively nationalisation, and a stealth tax on all shareholders.

Remember also, that New Lie have been responsible for constant rumours via the BBC and Robert Peston that have killed shareholder value. I trust suitable legal action will be taken. The Mail on Sunday points the finger at John Kingman at the Treasury as the leaker, who is a close friend of Peston.

The BBC would seem to disagree with you.

The government is not expected to insist on having its own appointees on the boards of the banks, although other strings are likely to be attached.

Link

[BrilloPad]

Just heard on the news that HMG will take a controlling stake in both of these banks, which effectively is Nationalisation.

How are your shares Sasguru ?

SG already said he sold at a profit.

[HairyArsedBloke]

i am happy that you use the word nationalisation. this is indeed nationalisation, what some members of the forums here do not seem to grasp.

When the government appoint directors, etc, then you will be correct. When they own share, even sheadloads of 'em, then they are just that: a shareholder/owner. If, say, the soverign wealth fund of Hairyarsedonia bought a large stake in, say, British Airways, whould it be nationalised by Hairyarsedonia?

[Cyberman]

i am happy that you use the word nationalisation. this is indeed nationalisation, what some members of the forums here do not seem to grasp.

HMG is buying 70% of HBOS and 50% of RBS and taking a controlling stake, and will put their stooges on the boards. This is a return to the Labour party manifesto of 1983, and is thus effectively nationalisation, and a stealth tax on all shareholders.

Remember also, that New Lie have been responsible for constant rumours via the BBC and Robert Peston that have killed shareholder value. I trust suitable legal action will be taken. The Mail on Sunday points the finger at John Kingman at the Treasury as the leaker, who is a close friend of Peston.

[sappatz]

Rbs

i am happy that you use the word nationalisation. this is indeed nationalisation, what some members of the forums here do not seem to grasp.

[Cyberman]

Just heard on the news that HMG will take a controlling stake in both of these banks, which effectively is Nationalisation.

How are your shares Sasguru ?