The RBS have paid back the emergency loans.

It was reported today that the RBS have paid back almost all of the £163billion of emergency loans that the government bailed them out with during the banking crisis.

While that is good news it still does not quantify or even admit that the government, ( we ), still own 82% of the shares in this bank.

If this or any other government do not want to keep on owning any such previously private entity then they are also going to have to get back the money that they spent buying up the bank's shares.

It is THIS money that, to me, is the important money !

Anybody ?

Given the shares were tanking at the time this should be a formality - some sort of float when the market is right.

This was about the only thing Brown got right in his disastrous 13 year stint at the helm - he made sure the taxpayer got some security for their generosity.

All you need to admit now Paps is that this proves it was a liquidity problem, not a profitability problem as you stated at the time.

"I told you so"

CC

I don't remember ever saying that it was "just a profitability problem" that brought down the banks as I believe that it WAS also a "liquidity" problem too.

After the reckless investment banks and the American Freddy and Fanny mortgage banks fell head-over-heels into the toxic debt that was the sub-prime market this poisonous situation came quickly right across the pond and infected the banks in Britain and Europe too.

Now that most of these reckless and incompetent banks HAVE been bailed out by the taxpayers in almost all of these countries it is time that the money that these taxpayers coughed up, without being asked permission first, got their money - ALL OF THEIR MONEY - back.

I am not sure if this is true or not, but I think the only people who got a guantee from the government that they would not lose any money was the depositors and the ordinary banking customers. I don't think that the shareholders got any guarantee at all.

Oh and BTW, I was not a shareholder.

Please correct me if I am wrong as I know someone will.

No Angie, you are right about that as a lot of bank shareholders lost a lot of money during and after the crash.

Now what we are looking for and expecting is that all of the taxpayers money that was spent dragging these reckless banking idiots out of the mire is paid back asap.

What is it with you Paps, do you enjoy seeing the misfortunes of others? Or only if they are in the private sector?

You clearly didn't have a clue at the time and now you are trying to rewrite history in best Marxist fashion. You blamed GREED and someone called Motco pointed out the truth

http://rippedoffbritain.forumotion.net/t12-northern-rock-the-truth

CC

Yes "Clapco", we need the "Motco's" of this world to help us to keep our blades sharp for the fray.

Just because I mentioned the FACT that the shareholders of the banks lost a lot of money in "the crash" does not mean that I revel in that fact.

If you actually read our stuff about the vision we have for a Socialist future for Britain you would know that it is not a Marxist vision but it is actually a true left-of-centre vision.

There are a lot of good things in Socialism but there are a lot of bad things in there too and we are trying as hard as we can to pick the best parts out of Old-Labour while leaving as many of the bad parts as far behind as we can.

People like you that always make a knee-jerk reaction to the word "Socialism" are the ones that just go to prove that we SHOULD be looking in that direction if we want to ensure that Britain moves forward in this new millennium as a caring and fair society. There is no fairness at all in the extreme ends of any political philosophy.

I think that you are a dyed-in-the-wool extremist and anarchist Clapco/Motco and while we must listen to such people to be aware of them we must also stay vigilant so that we can keep protecting ourselves from them.

I am a realist Paps - I live and work in the real world. I do not live in an ivory tower on my civil service pension telling everyone else where they are going wrong.

Your socialist 'dream' would be a nightmare of starvation, disease, homelessness once the money ran out.

Clappers

And right there Clapco you are welcome to your opinion, but I think that there are many many more people like me out there who know what is going wrong and who want to fix it.

Yes, I must admit that I like living in my "ivory tower" but as that same tower has a very good and fast lift working that takes me right to the pavement I can also get out onto the streets and keep watch for negative-thinking people like your good self.

Posted to remove highlighting - above post is spam

Clapco

YES, it was, and as you got to it before I did I thank you for the heads-up.

It and it's originator have now been removed !