The Anonymous Widower

Will We Ever Get Rid of This Worthless Bank?

This report in the Guardian is depressing reading for the New Year.

If we look at the figure of £14.5bilion out of pocket, that means that all sixty three million of us will have to contribute around £230,000 each. I know some of that money will come from corporate taxes, but where do the big companies like BP, BT and Vodafone get their profits from?

If we look at the performance of the two state-controlled banks, we see that Lloyds is actually improving both in value and share price, but RBS is still an impossible basket case.

More and more, I’m coming to the conclusion that Gordon Brown’s decision to save RBS was one of the worst pieces of political judgement ever, that ranks with when Neville Chamberlain thought Hitler was a good bloke to be trusted.

I wonder how many idiots, still bank with RBS or their accident-prone subsidiary; NatWorst?

I know of one supposedly sensible guy who does, but he got a mortgage with NatWest, in the good times.

With RBS, the bill would have been lot less, if we’d put the bank down and compensated, all those individuals and companies, who’d lost money as a result.

But if he’d done that, Gordon Brown would have have lost every Labour vote in Scotland to the Nationalists.

He might though have retained power in 2010, as the rest of the UK, would have applauded his courageous action.

January 1, 2014 - Posted by | Finance, News | , ,

1 Comment »

  1. […] the 1st of January, I wrote this post, entitled Will We Ever  Get Rid Of This Worthless […]

    Pingback by The BIll For RBS Goes Up « The Anonymous Widower | January 28, 2014 | Reply

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