The Royal Bank Of UK Taxpayers Posts Another Big Loss
Gordon Brown’s folly of rescuing Scotland’s failed bank is now becoming more than a millstone around the neck of everybody in the UK.
So the loss of £5.2 billion, works out at nearly £67 each for every man, woman and child in the UK.
I think I’d have had more fun taking a few notes and setting fire to them in a branch of the Royal Bank of UK Taxpayers.
It would be a lovely way to get arrested!
Seriously though, the bank is the deadest of dead parrots and keeping it alive is a fraud on the UK Taxpayers and most of those that appear to work for the bank. If it had been a manufacturing company or a retailer, it would have been liquidated years ago!
Berlusconi To Contest Election
When your ship is sinking, it obviously makes sense to put one of the major causes of why you hit the rocks, back in charge.
That’s what the People of Freedom party are doing in Italy.
Come back Silvio Berlusconi! All is forgiven!
And we thought Gordon Brown was a bad Prime Minister! But at least we made sure he was kicked into the long grass.
I suppose if you kicked Berlusconi into the long grass you wouldn’t find him again. The only people, who would truly mourn his passing from public life, would be comedians.
A Predictable Autumn Statement
Predictable in that it was more of the same, even if you don’t like one or more of bankers, large corporations, benefit claimants, pensioners, unions or drivers. I don’t like at least three!
Some taxes and allowances went up and some went down. Was it ever any different?
We need some radical ideas to get the economy going?
Take these statements which are more or less agreed policy between all the major parties.
1. Banks should lend more to individuals and businesses, so that they purchase capital goods and services.
2. Savers should get a better return on their money.
3. The banks should have more capital reserves.
Point 3 is the elephant in the room, as any money the banks get goes on salaries or to improve their balance sheet rather than more lending.
So let’s leave it out and go to peer-to-peer lending, where borrowers and savers are put in touch by intelligent computer systems.
The Chancellor didn’t take the radical route and help peer-to-peer lending at the expense of the banks. After all if he did, the price of all those Government bank shares would drop. So as they will continue to lose value, wouldn’t it have been better if Gordon Brown had done the prudent thing and put them down, when they went bust?
But then Labour would never have got another vote in Scotland. As it is, Labour doesn’t seem to get many!
Brown Is Voted Worst Living Prime Minister
According to the Sunday Times, a poll has shown that 43% voted Gordon Brown, Britain’s worst living Prime Minister.
Lord North was disqualified as no-one had a spade to dig him up!
Gordon Brown Knew He Could Not Do PM Job
This is according to Jack Straw’s memoirs, which are reported here on the BBC.
It’s just a pity, that Prudence didn’t tell the rest of us, as we might not be in the mess we are now!
We certainly wouldn’t have two aircraft carriers on order, that we don’t need! But then how else was he to buy the Scottish votes?
Did The Government Dither Over Northern Rock?
Sir Nicholas Macpherson was the senior civil servant in the Treasury, when Northern Rock ran into difficulties. He has just appeared before the Treasury Select Committee and there is a report here. This is the first paragraph.
The Treasury’s most senior civil servant has told MPs the government should have been quicker to nationalise Northern Rock following its collapse.
It doesn’t appear to me, that the government appeared to act quickly at all.
Perhaps, Gordon Brown was just being too prudent!
On the other hand, I’ve done financial modelling with loan companies and know that if you decide to run them down collecting all the payments aggressively, you can often retrieve a bad situation.
So perhaps, they were hoping Northern Rock would all come good! It didn’t!
Remember though, the bank did employ a lot of people in Labour’s heartland. So liquidation would have been a bad option for NuLabor.
A Night At The Athletics
I went to see the athletics at the Olympic Park last night.
It was a gold-less night, but at least others have repaired some of damage Gordon Brown did by selling off our gold reserves too cheaply.
The Park and stadium are magnificent and hopefully will remain so, unlike Athens, Montreal and Moscow, which are the only Olympic stadia, that I’ve visited. One of the lasting memories in my mind, will be the glorious flowers. In Athens, all that’s left is weeds.
In fact this post could be titled something like Trees, Flowers, Water and Steel with a Few Sporting Events Thrown In. Only the British and perhaps the Irish, Dutch, New Zealanders and a few others would say that the legacy for the Games needs to be another park. Especially in a city like London, which is already endowed with many large and magnificent parks.
On the other and there is nothing worse in life, than tending a garden. But that doesn’t mean I don’t enjoy them!
The Bus Games People Play
The behaviour of most people on London’s buses is generally immaculate, but it is sometimes treated like a serious game.
Obviously, kids like to travel in the front seats on the top. But so do adults and people generally move about to get the best seats as they become available. Perhaps, we all never grow up. Unless of course, we’re someone like Gordon Brown or Angela Merkel.
And then there’s how you choose, who you sit next to! It’s not just men, who like to sit next to nice-looking ladies and I can’t deny it doesn’t happen. But today, an elderly lady deliberately moved over so that I sat next to her, so she could have a chat. Most of the other passengers at the time were in their twenties at their eldest. In some ways, it’s only being friendly and no-one bothers.
And then there’s the game of judging what is the best time to descend from the top deck, just before you get off, as obviously walking down into an empty lobby is easiest. This game will get even more fun on a New Bus for London, as you have two staircases.
The New Bus for London also allows you to get on and off at convenient places, so this is yet another game, which at some time will come under the realm of the Health and Safety Police. But until then, let’s enjoy it.
What’s Going on in Scottish Football?
At the moment, I’m listening to the last match in the Glasgow Premier League at Celtic Park. It is usually on one of the main Sky channels, but today it is on Sky Sports 4. Are those of us who get our Sky through BT Vision being censored? Or do they expect it will be too red-blooded for English tastes? Especially, as from what I can gather from the commentary, the Celtic crowd have been giving the Rangers fans a warm and very bigoted welcome. I think that if say some of the banners unfurled by the home fans, appeared at say an Ipswich against Norwich fixture, they would certainly be confiscated.
All of this is a minor battle compared to what happens in the next few weeks. Rangers will probably loose a lot of their best players and the transfer embargo they are under will mean they won’t be able to sign any more.
What puzzles me about Rangers, is that the Inland Revenue didn’t fully investigate the non-payment of tax by the club a couple of years earlier? After all, if this forces the club into liquidation, then it will be the English at fault. Could it be, that Prudence didn’t want it to happen under his watch?
As a taxpayer, I have a right to know, about all the tax and contract mandering that happened in Scotland in the last days of the worst government we’ve had since Lord North.
Alistair Campbell on Alcoholism
Alistair Campbell has written a Panorama program on alcoholism, which is shown tonight.
As he was responsible for framing a lot of Nulabor policy, is there any connection to the financial mess that the Blair and Brown governments left us is.
Just looking at various cabinet ministers of the last fifty years or so, you can tell that some don’t have the healthiest of lifestyles.
The Anonymous Widower 