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Topic Originator: londonparsfan
Date: Tue 5 Jun 09:44
https://uk.reuters.com/article/us-rbs-share-sale/british-taxpayer-set-to-lose-billions-in-3-5-billion-rbs-sale-idUKKCN1J0281
Selling off shares in RBS again at another loss compared to the purchase price, this time it's a cool £2 billion hit but the expectation is that once you include the financing cost for the bail out, the real cost to us all is far more.
There are roughly 925 million shares being sold, and, if the break even figure of £6.25 is accurate then the real cost to us could be just under £5.8 billion. That's just the loss on this 7.7% tranche of shares never mind the rest.
Thinking of buying some? No chance my friend, this transfer of sovereign wealth is a one way ticket of tax payer money to financial institutions. The order book was full in half an hour which shows the toxicity of RBS now..
You can't however change the Government as to do so would mean backing a commie/anti-semite/financially illiterate/terrorist sympathising/insert your own slur here/ type of person that aims to put an end to this sort of thing.
To add a bit more context, benefit fraud is estimated at £2 billion a year.
When we're told we can't have public services, we know why..
Edited post as I said the hit was £2.5 billion rather than £2 billion.
Post Edited (Tue 05 Jun 09:58)
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Topic Originator: OzPar
Date: Tue 5 Jun 09:52
Very well said, LPF. This is utterly scandalous.
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Topic Originator: londonparsfan
Date: Tue 5 Jun 09:59
Thanks mate, it's absolutely gutting when you look at the austerity squeeze being put on people to see this happen.
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Topic Originator: Rastapari
Date: Tue 5 Jun 11:16
This isn't news....this is just the reality of what Britain is.
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Topic Originator: londonparsfan
Date: Tue 5 Jun 12:06
Yep it's a shame it's just taken for granted that this is the norm.
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Topic Originator: WORST
Date: Tue 5 Jun 12:10
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Topic Originator: richie5401
Date: Tue 5 Jun 12:31
^ well said.
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Topic Originator: wee eck
Date: Tue 5 Jun 12:50
Selling the RBS shares is another example of the Tories lining the pockets of their friends in the City at the expense of the UK taxpayer, similar to what happened when various publicly-owned institutions were privatised at undervalued prices.
The transport proposals in Scotland (and I think they are mooted by various interested parties rather than being SNP policies) are an attempt to change people's behaviour on travel with benefits for the environment and health. I don't see the connection at all.
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Topic Originator: WORST
Date: Tue 5 Jun 13:38
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Topic Originator: onlytakes
Date: Tue 5 Jun 14:04
If the SNP want to tax people for driving to work then they may wish to start at the Scottish Government HQ! It got planning permission with all those spaces despite Scottish Planning legislation limiting spaces elsewhere. Before people think I'm bashing the SNP, it was Labour who agreed it all.
Though I will bash the SNP for continuing to allow unsustainable planning. Dunfermline is your perfect example. Build loads of houses but create the jobs in Edinburgh. It's okay though, we have a city deal now...that pushes improving transport...into Edinburgh and creates thousands of new jobs...in Edinburgh. I'm sure there's some benefit for Fife somewhere in it...
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Topic Originator: londonparsfan
Date: Tue 5 Jun 14:10
I don't know how you can say Corbyn's policies are anything like any other party's.
He wants to put all of the privatised companies back into the public's hands. It's why more than half the media has gone into melt down. Labour are in danger of not being Tory lite any more and people don't like it. When you start getting the level of personal attacks he has then you're probably doing something a bit different.
If Scotland was independent we have no idea what positions the political parties would adopt. Some of the SNP policies are right of center, I don't agree with their position on continuing privatised companies for example but you don't know what Labour or the Lib Dems would come up. They could continue being crap but who knows?
On the SNPs green plans something needs to be done to keep the air quality up. They're copying some of London's ideas around emission zones and congestion charging and from what I can see it's not motorists that would pay the parking levy, it's the employer providing the spaces that would pay.
About the only part I'd agree with is that you have to provide a coherent public transport system which isn't going to happen when you've got privatised companies running your bus and rail networks as they are being run in their shareholders interests not ours.
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Topic Originator: Mario
Date: Tue 5 Jun 14:26
"you've got privatised companies running your bus and rail networks"
And the Soutars, ran every wee bus company off the road or bought them out.
Hate them getting my money, not any choice round here though.
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Topic Originator: Tenruh
Date: Tue 5 Jun 14:26
Well that was quick, gone from Tory to SNP bashing in less than 7 posts
Post Edited (Tue 05 Jun 14:28)
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Topic Originator: Tenruh
Date: Tue 5 Jun 14:27
Quote:
Mario, Tue 5 Jun 14:26
"you've got privatised companies running your bus and rail networks"
And the Soutars, ran every wee bus company off the road or bought them out.
Hate them getting my money, not any choice round here though.
Surely you have a free travel card?
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Topic Originator: Tenruh
Date: Tue 5 Jun 14:30
Quote:
onlytakes, Tue 5 Jun 14:04
If the SNP want to tax people for driving to work then they may wish to start at the Scottish Government HQ! It got planning permission with all those spaces despite Scottish Planning legislation limiting spaces elsewhere. Before people think I'm bashing the SNP, it was Labour who agreed it all.
Though I will bash the SNP for continuing to allow unsustainable planning. Dunfermline is your perfect example. Build loads of houses but create the jobs in Edinburgh. It's okay though, we have a city deal now...that pushes improving transport...into Edinburgh and creates thousands of new jobs...in Edinburgh. I'm sure there's some benefit for Fife somewhere in it...
Just out of interest why did you move back to Fife? You appear to hate it here but Edinburgh is the land of milk and honey
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Topic Originator: Mario
Date: Tue 5 Jun 14:34
Who mentioned the SNP?
Yeah I've got a card, but the fare gets paid to Stagecoach. Used to out of my pocket, now out of my tax.
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Topic Originator: Tenruh
Date: Tue 5 Jun 14:37
Quote:
Mario, Tue 5 Jun 14:34
Who mentioned the SNP?
Yeah I've got a card, but the fare gets paid to Stagecoach. Used to out of my pocket, now out of my tax.
Stevie mentioned them first.. Hates them with a vengeance.... I quite like them though
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Topic Originator: McCaig`s Tower
Date: Tue 5 Jun 14:51
Back to the OP
What are the alternatives?
Keep the shares forever?
Sell them at a different time? When? This argument was made last time, but the price has since fallen.
Give them away? You could give every citizen 15 shares each. In theory that may spread the wealth, in practice it would probably leave more in the hands of the Finance houses.
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Topic Originator: londonparsfan
Date: Tue 5 Jun 14:51
Quote:
Mario, Tue 5 Jun 14:26
"you've got privatised companies running your bus and rail networks"
And the Soutars, ran every wee bus company off the road or bought them out.
Hate them getting my money, not any choice round here though.
Yep that was a huge problem that all the small providers got hoovered up. If you want a coherent integrated network you need to accept that a lot of routes are going to be loss making and private companies are never too keen on those ones surprisingly enough.
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Topic Originator: sadindiefreak
Date: Tue 5 Jun 20:03
When I heard last month that RBS was going to start paying dividends to shareholders again soon I just knew the Selfsevatives would be lining their own pockets.
God forbid the taxpayers seeing any return on the investment we were forced to make.
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Topic Originator: onlytakes
Date: Wed 6 Jun 00:18
Sorry, Tenruh, forgot you don't like it when someone points out an SNP failure. I like Dunfermline better than Edinburgh. I also like to see my town treated fairly. I'm sure the SNP are working hard on ensuring continued growth and not pratting about writing documents that highlight how their independence figures don't add up :-D
Back to the Tories - not sure it'd go far enough to call them scumbags but then we need to remember it was who "saved" all these banks in the first place. So many abusing their positions to make they pals a few quid.
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