Northern Rock
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Gusset Sniffer
- Posts: 253
- Joined: Fri Jul 14, 2017 2:40 am
Re: Northern Rock
Thieves!!!!!! You fucking useless twat Osborne! Does Branson ever use his own money to buy a business? NO! Tax payers shafted AGAIN!!! by government and their crooked cronies
Re: Northern Rock
Like I said, he's a cunt.
[_]> No Liberals were harmed during the making of this post.
Re: Northern Rock/ STOP PRESS
It is now alleged that the reason for the recent sale of Northern Rock, was that Alistair Darling had made a contractual agreement, at the time of the bail out to ensure that the bank was re-privatised by 2013.
Quel surprise!
Quel surprise!
<http://www.jimslip.com>
Winner "Best Loved Character"TVX SHAFTAS 2010
Winner of "Best On-Line scene & Best Gonzo Production" at UKAP Awards 2006
Winner of Best TVX series 2011, "Laras Anal Adventures"
Winner "Best Loved Character"TVX SHAFTAS 2010
Winner of "Best On-Line scene & Best Gonzo Production" at UKAP Awards 2006
Winner of Best TVX series 2011, "Laras Anal Adventures"
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David Johnson
- Posts: 7844
- Joined: Fri Jul 14, 2017 2:40 am
Jimslip
"It is now alleged that the reason for the recent sale of Northern Rock, was that Alistair Darling had made a contractual agreement, at the time of the bail out to ensure that the bank was re-privatised by 2013".
A little more detail for you, Jim.
1. This story has surfaced very recently in the Daily Mail, as you know, and has had no reply from Alistair Darling as yet.
2. The story suggests that due to EU competition law, Darling was placed in the position by the EU that if the UK nationalised Northern Rock, it would have to be sold . According to the Mail, 2013 was the date it had to be sold.
3. You omit to mention that according to the Mail the UK was bound to dispose of at least 50 per cent plus one share of Northern Rock plc by the end of 2013. This isnt to say that say, 49% of the shares could have been held by the government until banking stocks had recovered and the government could then have sold its shares to recoup any losses.
4. Early 2011 when the Bank was put up for bids is not 2013. Nearly 3 years is a long time in bank stocks.
5. You omit to mention that there was no clause which said Northern Rock had to be sold to Richard Branson, a person guilty of huge tax avoidance fronting up a bunch of venture capitalists or that Branson should be able to buy the bank for half the value of the money the taxpayer pumped into the bank and still use ?250 million of the bank's own money to service the deal.
6. You omit to mention that there was no reason why the government could not have sold Northern Rock as a mutual owned by its members.
CHeers
D
A little more detail for you, Jim.
1. This story has surfaced very recently in the Daily Mail, as you know, and has had no reply from Alistair Darling as yet.
2. The story suggests that due to EU competition law, Darling was placed in the position by the EU that if the UK nationalised Northern Rock, it would have to be sold . According to the Mail, 2013 was the date it had to be sold.
3. You omit to mention that according to the Mail the UK was bound to dispose of at least 50 per cent plus one share of Northern Rock plc by the end of 2013. This isnt to say that say, 49% of the shares could have been held by the government until banking stocks had recovered and the government could then have sold its shares to recoup any losses.
4. Early 2011 when the Bank was put up for bids is not 2013. Nearly 3 years is a long time in bank stocks.
5. You omit to mention that there was no clause which said Northern Rock had to be sold to Richard Branson, a person guilty of huge tax avoidance fronting up a bunch of venture capitalists or that Branson should be able to buy the bank for half the value of the money the taxpayer pumped into the bank and still use ?250 million of the bank's own money to service the deal.
6. You omit to mention that there was no reason why the government could not have sold Northern Rock as a mutual owned by its members.
CHeers
D
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Gusset Sniffer
- Posts: 253
- Joined: Fri Jul 14, 2017 2:40 am
Re: Northern Rock
Let me get this right. Branson is only investing ?50 millon. Others are investing the rest? By doing so it allows him to take ?250 million from Northern rocks coffers to pay for the bank? So the bank is effectively being sold for ?747 million less the ?250 million in Northern rocks bank vaults. So he gets it for ?497 million?
And when it goes tits up the tax payer will bail him out again?
Using the banks money to finance the acquisition should be illegal????? What stupid twat in government allows this? This is legalised robbery.
I hope Osborne gets a free ride in Bransons space ship and never fucking comes back.!swear!
And when it goes tits up the tax payer will bail him out again?
Using the banks money to finance the acquisition should be illegal????? What stupid twat in government allows this? This is legalised robbery.
I hope Osborne gets a free ride in Bransons space ship and never fucking comes back.!swear!
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Arginald Valleywater
- Posts: 4288
- Joined: Fri Jul 14, 2017 2:40 am
Re: Gusset Sniffer
Of course if we had had a decent chancellor in No 11 who had the wisdom to tell the banks to calm their stupid, government approved lending policies we would not be in this very deep crock of shit. Arise McBroon of Retardshire...
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David Johnson
- Posts: 7844
- Joined: Fri Jul 14, 2017 2:40 am
Arginald
Quite right and a very pertinent point. I remember Gordon Brown insisting to the banks, building societies etc. that you must loan loads of money to people who mightn't be able to afford it.
I also remember him insisting that the investment banks create huge numbers of financial instruments such as credit default swaps which many of the banks did not understand themselves. They asked him "How can we create loads of financial instruments that we don't understand?" But he just went into a total strop and insisted on it being done.
Brown was so unfair and nasty to the banks.
The banks did complain to him at the time. Gordon this is completely unfair. We are going to lose loads of money. But Brown insisted on it.
I wrote to him at the time about it. Would he listen? No.
Next week how Gordon Brown created the financial collapse in the USA, Iceland, Ireland, Greece, Spain, Portugal and Italy and why as a result he is not allowed to even set foot in these countries.
Quite right too.
And the week after, why Gordon Brown made me buy a new car without telling me that I couldnt really afford it. The bastard!
Cheers
D
I also remember him insisting that the investment banks create huge numbers of financial instruments such as credit default swaps which many of the banks did not understand themselves. They asked him "How can we create loads of financial instruments that we don't understand?" But he just went into a total strop and insisted on it being done.
Brown was so unfair and nasty to the banks.
The banks did complain to him at the time. Gordon this is completely unfair. We are going to lose loads of money. But Brown insisted on it.
I wrote to him at the time about it. Would he listen? No.
Next week how Gordon Brown created the financial collapse in the USA, Iceland, Ireland, Greece, Spain, Portugal and Italy and why as a result he is not allowed to even set foot in these countries.
Quite right too.
And the week after, why Gordon Brown made me buy a new car without telling me that I couldnt really afford it. The bastard!
Cheers
D