Religion and Ethics Forum

General Category => Politics & Current Affairs => Topic started by: Walt Zingmatilder on June 05, 2018, 02:17:16 PM

Title: Tories lose us another £2 Billion.
Post by: Walt Zingmatilder on June 05, 2018, 02:17:16 PM
https://www.theguardian.com/business/2018/jun/05/hammond-forced-to-defend-rbs-shares-sale
Title: Re: Tories lose us another £2 Billion.
Post by: Harrowby Hall on June 05, 2018, 05:05:42 PM
But it was Labour that got us into this mess in the first place ...
Title: Re: Tories lose us another £2 Billion.
Post by: Walt Zingmatilder on June 06, 2018, 08:02:58 PM
Quote from: Harrowby Hall on June 05, 2018, 05:05:42 PM
But it was Labour that got us into this mess in the first place ...
I thought it was Thatchers deregulation.
Title: Re: Tories lose us another £2 Billion.
Post by: jeremyp on June 06, 2018, 08:11:55 PM
Quote from: The poster formerly known as.... on June 06, 2018, 08:02:58 PM
I thought it was Thatchers deregulation.
Actually it was the US subprime mortgage bond market.
Title: Re: Tories lose us another £2 Billion.
Post by: Rhiannon on June 06, 2018, 09:12:45 PM
I successfully unblocked my washing machine filter today but it wasn’t in there, although I was told coins often end up in them.
Title: Re: Tories lose us another £2 Billion.
Post by: Harrowby Hall on June 06, 2018, 11:00:17 PM
Quote
But it was Labour that got us into this mess in the first place ...

Quote from: The poster formerly known as.... on June 06, 2018, 08:02:58 PM
I thought it was Thatchers deregulation.

I suppose this depends on where you perceive the "start" to have been.  I was referring simply to the "rescue" of the insolvent RBS in 2008 by the Labour government of the day.
Title: Re: Tories lose us another £2 Billion.
Post by: Steve H on June 06, 2018, 11:07:09 PM
Quote from: Harrowby Hall on June 06, 2018, 11:00:17 PM
I suppose this depends on where you perceive the "start" to have been.  I was referring simply to the "rescue" of the insolvent RBS in 2008 by the Labour government of the day.
The financial crisis of 2008 was world-wide. That Britain wasn't worse affected than it was was thanks to the wise stewardship of Gordon Brown.
Title: Re: Tories lose us another £2 Billion.
Post by: Nearly Sane on June 07, 2018, 03:00:03 AM
In terms of the RBS fiasco, it was caused most closely by the purchase of ABN AMRO. Had Barclays succeeded In their bid, they would be in a worse position than RBS.
Title: Re: Tories lose us another £2 Billion.
Post by: Harrowby Hall on June 07, 2018, 08:45:25 AM
That is my understanding, too.

It was all underscored by the personal ambition of Sir (no longer) Fred (the shred) Goodwin.