Originally posted by doodab
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Reply to: Banking success stories; RBS
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Previously on "Banking success stories; RBS"
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Originally posted by NorthWestPerm2Contr View PostYep and I am thinking of moving away from RBS as well.
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Originally posted by lukemg View PostAs usual, headline conceals a completely different picture. Yes, the bank was and is in the brown stuff. Underlying profits are quite healthy at around 2.5bn but right-downs for bad debts + PPI account for the big negative figure.
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As usual, headline conceals a completely different picture. Yes, the bank was and is in the brown stuff.
Underlying profits are quite healthy at around 2.5bn but right-downs for bad debts + PPI account for the big negative figure.
I am surprised they didn't ringfence the bad stuff to give the good stuff half a chance but they decided not to.
So, how can I make money from this ?
Easy - buy up the direct line shares when they were forced to sell it cheap, 2k profit so far.
Buy RBS ? no, already overweight financials plus think the right time was a while ago.
FWIW I predict the gvmt/us will get all the money back that was invested (although not the opportunity cost if we had put it elsewhere). Its just a matter of when.
GLA
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Originally posted by tarbera View Post250 getting chopped tomorrow, agents have been informed to call some tonight to not come back into the office
Keep your phone on tonight
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Originally posted by tarbera View Post250 getting chopped tomorrow, agents have been informed to call some tonight to not come back into the office
Keep your phone on tonight
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Originally posted by mos View PostI always wondered how the Losses to taxpayers reported in the media account for the disposal of most successful businesses once owned by RBS, such as Worldpay and Direct Line.
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Originally posted by Mich the Tester View Post
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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 ...
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Originally posted by Mich the Tester View Post
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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.
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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.
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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.
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