Guest 698- Registered: 28 May 2010
- Posts: 8,664
The taxpayer has not paid a brass farthing into either of those two banks.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Daily Politics Quote; The amount of money paid out by Joe Public to bail out the Bankers Casino Boys of the Royal Bank of Scotland .............Only not the others............would have financed our Universities for FIVE YEARS.
Wonder how our young people think about that.
Guest 683- Registered: 11 Feb 2009
- Posts: 1,052
It's true that the two banks did not take tax payer money directly but both benefited from the general bail out; without the tax payer bailout the whole sector would have been in danger of collapse and HSBC and Barclays would have been amongst them. None of them comes out well in this.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Mark that is I am afraid totally incorrect. In the absence of the taxpayer bailout, Barclays and HSBC would have mopped up the other banks for a couple of billion each, closed zillions of branches and shed hundreds of thousands of jobs. Both those banks were responsibly managed through the crisis and while they suffered losses, such losses were managed so that they were kept in proportion and never threatened the entire institution. What is certain is that those two banks were sound at the beginning of the banking crisis, sound throughout and sound afterwards.
Late PS however Barclays did go to Abu Dhabi for a slug of equity which looked dodgy at the time but looks now like a smart move.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
and besides that hsbc have there big hq in hong kong.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Actually Brian their HQ is at Canary Wharf.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
thats the english hq peter there other one is in hong kong,if osbourne and co go ahead thats where i can see them relocating to.
Guest 683- Registered: 11 Feb 2009
- Posts: 1,052
Peter
HSBC received about $3.5 billion and Barclays about $8 billion from the AIG bail out, by US rather than UK tax payers, which helped them at a critical time.
In addition, John Varley, the former chief executive at Barclays, said in 2009:
"There are two ways I would say the system as a whole benefited generically.
One was in the injection of liquidity undertaken by the Bank of England and a new structure put in place in March 2008.
And the other was the making available of guarantees from government for funding undertaken by banks. It is important to recognise that in each case the banks were encouraged to use these new structures that were put in place and we did.
It is also important to recognise that we were required and we did pay a price for these things, but I'm not trivialising the importance of the intervention. It was important."
Barclays had also been keen to buy the Dutch bank ABN Amro and narrowly missed out to RBS. The deal ultimately brought about the collapse of RBS.
Perhaps one man's 'responsibly managed' is another's 'luck'!
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
The banks seem to be heading into rough waters. Greece is on the verge of running out of cash, and the banks, especially in France, are falling heavily on the stock markets.
The Centrial European Bank is divided whether to go ahead and bail out Greece.
Some British banks have quite a lot of money owed to them from abroad, as to some other western banks, so we might see the banks in the headlines again soon.
I've got a fiver on my bank account, I hope it's still there next week!
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Ossie and Cable join forces to stop Flashman`s ``Wobble`` after he had been lobbied by Bank Chiefs.
Fears still exist Flashman and Ossie will slow proceedings to the Statute Book and after which will please Bankers.!!
Firewall between Joe Publics Bank and Casino Bank may require a sepatrate Bill!!
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
PETER;
Agree with a lot of your coments but appears HSBC has found alternative ways to get out of the banking crisis.
REG;
All in it together still trying to grasp that one
all;
the splits are opening up, how far will cable be allowed to go?
what will clegg when(if ) he needs to stop cable?
co olition
more like demoilition
ALL POSTS ARE MY OWN PERSONAL VIEWS
