Scooby Posted January 19, 2009 Share Posted January 19, 2009 http://www.livemint.com/2009/01/19180651/RBS-expects-28-bn-loss-in-08.html. More to follow, I'm sure, as other banks report their 2008 results. Link to comment Share on other sites More sharing options...
Benjamin Posted January 19, 2009 Share Posted January 19, 2009 Barclays must be breathing a sigh of relief that they lost that battle. [Www]With a new management team in place it's a fairly obvious move to clear out anything that looks slightly suspicious and blame it on the outgoing managers. I agree, expect a lot more of the same from the others, that's if they've got any sense. [:P] Link to comment Share on other sites More sharing options...
Gluestick Posted January 19, 2009 Share Posted January 19, 2009 RBS shares have now collapsed: last quoted at 13pence and no takers................... Link to comment Share on other sites More sharing options...
Bugsy Posted January 19, 2009 Share Posted January 19, 2009 What amazes me in all this is that no heads have rolled.........................[:'(]. Link to comment Share on other sites More sharing options...
Benjamin Posted January 19, 2009 Share Posted January 19, 2009 Sir Tom McKillop and Sir Fred Goodwin, Chairman and Chief Executive respectively, have both gone. Both have apologised for their leadership of RBS and accepted full responsibity for what has happened. The rest of the blood letting will be done more privately. Link to comment Share on other sites More sharing options...
Gluestick Posted January 19, 2009 Share Posted January 19, 2009 I can't bank apologies.I note one of the architects of the incipient disaster is not mentioned: http://en.wikipedia.org/wiki/George_MathewsonIf most business owners screw up, they often not only lose their business, but their home.About time that these clowns with their insane greed and lack of probity suffered a similar fate, IMHO.Why should it be the poor long suffering taxpayer, time after time, who is compelled to bail out a string of disasters, whilst the perpetrators swan off in the sunset to their Caribbean homes?Take pensions, for example: the taxpayer has been forced to pay vast sums into the pension protection fund when it started: and now they will have to pay more.http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5536942.eceThe reality is that struggling pensioners will pay more tax to fund pensions which have been stolen by chicanery, devious practices and dupliticious directors.By Ring Fencing pension funds away from their sponsoring employer (as Thatcher's minister Norman Fowler promised and didn't: surprise!), years ago, all this could have been avoided.About time there was some clear accountability and a reckoning in my book! Link to comment Share on other sites More sharing options...
Scooby Posted January 19, 2009 Author Share Posted January 19, 2009 [quote user="Benjamin"]Barclays must be breathing a sigh of relief that they lost that battle. [Www][/quote]Complete lack of judgement re ABN Amro.....and the day of reckoning has arrived. Link to comment Share on other sites More sharing options...
Théière Posted January 19, 2009 Share Posted January 19, 2009 Long live the revolution Link to comment Share on other sites More sharing options...
woolybanana Posted January 19, 2009 Share Posted January 19, 2009 The red revolutions have always produced chaos and misery. There will never be a banking sector if the govt and civil servants get their hands on then and the consequences for taxes and lending will be disastrous. Look at the NHS! Link to comment Share on other sites More sharing options...
Judith Posted January 20, 2009 Share Posted January 20, 2009 I had a temporary job with RBS in the early 90's. Not one of the best places I've worked, and was glad to get out. Obviously the beginning of the end, even then!! Link to comment Share on other sites More sharing options...
velcorin Posted January 20, 2009 Share Posted January 20, 2009 I haven't checked the values given, but someone sent me this................. 1 year ago the Royal Bank of Scotland paid $100bn for ABN Amro. On today's valuations the amount they paid could now buy: Citibank $22.5bn Morgan Stanley $10.5bn Goldman Sachs $21bn Merrill Lynch $12.3bn Deutsche Bank $13bn Barclays $12.7bn And with the change $8bn .....they would be able to pick up GM, Ford, Chrysler and the Honda F1 Team. How the world has changed. At the time Santander, Fortis and RBS thought they'd got a fair deal!!!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
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