Northern Rock

[jimslip]

"The question I do not understand is why on earth he sold the bank now at a time when banking stocks are at rock bottom? Why not hold on to the asset for years down the track when they have revived and the taxpayer can get their money back?"

Because that would be sensible AND it would also mean Richard Branston would have had to oay a proper price for it and that just wouldn't do now would it? That's what governments are really good at, wasting our money!

[Lizard]

He's still a cunt.

[Alex L]

"Things have gone sadly downhill since I travelled seamlessly from Basel to the Jungfrau."

You would have found that a problem, the train travels only to Jungfraujoch from then on I'm afraid it's by foot!

[David Johnson]

"You would have found that a problem, the train travels only to Jungfraujoch from then on I'm afraid it's by foot!"

Err, I said to the Junfrau. I didn't say the top of the Jungfrau.

Given its 11,782 ft (I am being particularly precise here in case you pick up on it) at the railway station, it is definitely a mountain experience and enough to make most people a tad lightheaded with the altitude.

Cheers
D

[David Johnson]

Indeed!

[Alex L]

"Err, I said to the Junfrau. I didn't say the top of the Jungfrau."

I was only trying, unsuccessfully, to be light hearted.

[Alex L]

...and if the investment bankers and venture capitalists don't get you, there's always the retail bankers!

[David Johnson]

Aah, apologies

[sparky]

Quoting Jimslip (my bold highlights)

"The question I do not understand is why on earth he sold the bank now at a time when banking stocks are at rock bottom? Why not hold on to the asset for years down the track when they have revived and the taxpayer can get their money back?"

Because that would be sensible AND it would also mean Richard Branston would have had to pay a proper price for it and that just wouldn't do now would it? That's what governments are really good at, wasting our money!

Exactly another ?400 million officially so probably more which means ~?10 from every person down the pan.

Around the same time LDV vans were seeking support but were refused so the business closed with the immediate workforce and no doubt some from suppliers joining the unemployed while imports from VW, Merc, Peugeot etc keep rolling into the country.
OK maybe LDV was never viable and needed investment to modernise and develop but support would have kept people in work so overall the burden on the taxpayer may well actually have been lower. On top it would have been good for morale and reduced our reliance on imports hence improving the governments statistics on balance of trade .....

Once I thought the aim of a government was to run a country in the way to best balance taxation and other income with ensuring no one was living in poverty or suffering from the need for health treatments while creating an atmosphere that the majority would consider to be positive, not negative because they are being stitched up hook, line and sinker.

[jimslip]

Governments exist and function ONLY for power and for re-election. They will lie, cheat and swindle all and sundry, to schieve this aim. They are paralysed by their pathetic and outdated political dogmas and as such incapable of instigating anything of any great vision or flair!

This is why Branston was able to run rings around them, he would have done the same if New Labour had been in charge. Most politicians have never had a proper job in business, they haven't got a chance against old smarmy, beardie Branston. A couple more drinks and they would have flogged their wives to him for a tenner!