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I rarely comment on RBS but the bad news is just going on and on. RBS clearly should have acknowledged this state of affairs with its Restructuring Division for business customers when it knew the facts. If you or I had robbed some poor old pensioner with a deliberate 'ripoff' we would be facing criminal proceedings and its a disgrace that whomever allowed RBS to operate in this way is not facing criminal prosecution. I did oppose the 'lynch mob' mentality that followed the collapse of RBS especially from MP's that never answer why they didn't fall on their own swords for their incompetence but where are all the independent Directors at the time that should have been watching the way the Bank was run.. Gone, everyone , escaped to other jobs leaving the rest of us to clear away the debris they left behind. Unfortunately an investigation by MP's would only hurt the Bank more and very little would happen the horse has already bolted. Another Day, Another Mess
have just read a post on wres share board ,and came over to see the story here
Dreadful, very predatory lending ... witch hunt required?
on "newsnight" now
RBS hang your heads in shame , it wont even bother them what they have been doing,banking with RBS ,would you listen to any advice RBS would give a customer now ..!!!!!!! ... pfffffttttt ..... barclays here i come ,if you have any sense RBS account holders you would do the same leave them , shocking & disgusting managers & management
Just sold out of this bunch of loathsome, nasty, obnoxious, odious degenerates. I hope the BOD is sacked by the government with loss of salary , bonuses and fined for deceitful practices. They should be spurned by everyone they know including their families.
I am outraged by RBS (Robbing By Shysters) in this new revelation about their disgusting behaviour. I no longer want to be part of the shareholders propping up this stinking business. All the BOD should be on everyone's 'punch in the face' list. I hope that the police arrest every last RBS clown and lock 'em up. I will sell at a vast loss but I have to wash this slime off of my skin. RBS has shamed and broken the whole UK financial system.
The new revelations about GRG provided by a whistleblower just reveal the depths of venal depravity involved in this rotten operation. They systematically asset stripped SME's in hock to RBS. The vast majority of these, often family run firms, never recovered at great personal and financial cost. One of the prime motivations seemed to be to maintain their own personal bonus payments. I would close the whole bloody thing down and write off the loss to the taxpayer. I am glad I got rid of these shares back in 2010 and took the loss. I will now be switching my current account out of NatWest and hope others will too.
We need to tackle the number of people living in the UK, my suggestion is to stop child benefit say after the first or second child moving forward, anyone with existing arrangements should be honoured, young girls in deprived areas with little or no hope are still producing children to take advantage of extra benefits such as child benefit of free rent, these children in turn do the same as their parents. People have a right to have children but not have the taxpayer foot the bill when it makes no financial sense.
You asking for a 150% plus increase ... Unless interest rates rise enough to better banks fortunes, there seems little chance of that amount of rise being justified... As the growth of house buying in the 1970s, 1980s and 1990s has now gone into reverse and more and more cannot afford to buy a house and renting going the same way... It is going back to the 60s with house prices 30 times plus 1960 prices ... No credit cards in the 1960s but now the personal debt mountain is massive and many using credit cards and overdrafts to live and pay their rents and mortgages.... Now Brexit is bound to create some unkown problems and the EU may have other countries leaving .. Who knows and conflicts around the world seem to be remain unresolved.. How the majority of the UK are Expected to have their wealth grow in the next 10 years seems impossible, in fact the growing density of population of many cities is creating poverty stress and hardship ... And house over crowding ... Not the best environment for banks growth ... Things are so different from 40 years ago and tnow he pressure is on...
I have held this share since the old days when it was around 55p when the financial crisis set in (that would now be £5.50) I had hoped by now to have at least made a small gain but just seems to be endless bad news year in year out. Anyone think we will ever see those prices again?
Philip Hammond said that the sale of the government's stake in the Royal Bank of Scotland was "not practical at the moment" whilst the bank was under the threat of fines from the Department of Justice in America and was struggling to sell its Williams and Glyn branch network. http://www.bbc.co.uk/news/business-37587876
Thanks for that! I think, too, that we should take the fat man at his word. He meant what he said, and he spoke on behalf of an institution, not as a personal preference. And that institution still runs the show.
I rented a flat in the Algarve for 3 months and everything was fine. A load of Brits down there, and multiples thereof in Spain, so you have a large sample of residents who will attest that life down there can be pretty cosy. I suggest France of Spain because they are the most popular with Brits. Me personally, I prefer Italy or Portugal, but I also like Cyprus which is well organised, English is widely spoken, and flights are quite cheap. But my main point is that I prefer to have as many options open to me as possible. The UK has is pluses and minuses as every other place, but overall as I get older I prefer Southern Europe. In the near future, you will see Croatia, Bulgaria, Romania etc. all these states opening up. It's a shame that Brits will not be able to move around as easily. - But let me add as an aside, I still think there may be hurdles to PM May triggering article 50. We could have a sterling crisis, a balance of payment crisis, or any other travails that can throw a wrench in the works. I don't believe politicians. These markets are determined that the UK will remain in the EU, or a soft Brexit at best. As Thatcher once remarked with John Major's braggadocio who claimed that the Sterling was a super currency , 'You can't buck the markets.' And Soros walked off with a cool billion for a few days trade!
Interesting posts, have to agree with most of it , worth bearing in mind that our ever increasing population is to a some extent due to people living longer . We have an increasing number of people of pensionable age and not enough home grown " taxable youngsters " to maintain pensions , company or state , at current levels. We need fairly high levels of immigrants just to maintain the status quo and , contrary to media reports , make a positive contribution to the economy . Also worth remembering that large numbers of UK citizens work in , or retire to other countries ,lt's not all one way traffic . Perhaps in years to come when bots have taken over most jobs , we can drastically reduce the numbers , can't see it happening at the moment .
Sold @ £1.81 ish ... bugger this for a game of soldiers
I don't think you will find living in either Spain or France preferable to how you live in the UK. There are attractive elements, of course there are, but I believe you will find the overall balance is in favour of the UK. Simple things, eg: in Spain the plumbing, in France the language. There are many other differences that you may not find so comfortable or welcoming. Might I suggest that you do some first hand research before you commit? Say a trial period of at least six months in a rented house.
Two Jags....aka John Prescott
I cannot contest a single point you've raised. The population issue is one that has been agreed on by successive administrations, and I recall the Blair's administration issuing the mantra that the UK's population will head towards 80 million plus, with no limit set. That fat guy (the deputy PM under Blair, I forget his name) stated this emphatically, that the government imposed no limit to immigration, and that this would continue no matter who was in power. I think all politicians are bought and paid for. Teresa May is full of BS. It is all politics. The future population trends have been decided. And really, the only option left to for those who have the means is to retire to somewhere like Spain, or France. This is what I am planning, because no one really cares about voting in referenda or democracy. Your best hope is to make as much as you can, through labour or stocks or whatever, and plan a retirement overseas if the present trends you see here in the UK do not meet your expectations. It's a depressing, even cynical, view, but that's the reality of politics in the UK. This country, in terms of its population density, will resemble Japan more than people realise. At lease if we remained in the EU formally moving to new habitats would have proved swifter. - Good trading.
My take on Brexit is that after 40 years thing have got in a major rut. It is making a few very rich and creating a massive amount of personal Debt throughout the EU ... And there has to be reason why over 40 years house buying is not affordable to more more so over the past 15 years and not one effort made from anyone to stop this trend ... And now mass migration into the EU on a scale never seen in my lifetime will create many costly unkown changes to come ... Total freedom of movement is not sustainable in the UK in the next 15 years with a few reports of another 5 million into the UK by 2030 if we stay in the EU and except EU movement rules.. Our roads, trains and cities are so crowded now it is nightmare compared to 20 years ago .. It is no good increasing the population if conditions for many already living the UK are getting worse and basic services struggle now.. The U.K. Has around 65 million and France has about 5 million more but is twice the size of the UK give logical thought to the UK is over croweded now .. If 5 million extra did come to the UK that would mean up to 1 million more cars on our roads and that would certainly slow down travel and goods around the UK and where is 3 million houses going to come from .. More is never better but enough is just nice... Poverty is being created more each year .. I moved to the coast 40 years ago to a population of 30K, now it is around 90K and cities even greater increases in millions the past 40 years .. Brexit is dooming the UK to increase this trend.. I have lived through the years of ease of seeing a doctor and speaking on a phone to a person at a company and seeing both completely reversed and now a struggle and traffic volumes and parking nightmares .. If we cannot run the UK better with 65 million then another 5 million or more in the future will just clog up much of the system..
Agreed , size matters, lol......Have to admit to a fair degree of apprehension regarding Brexit.
It's all good and well to borrow, but when interest rates are at rock bottom, no one has a clue how to escape from this level (and now contemplating negative rates as the logical next step - oxymoron! -). Debt, more specifically, controlled debt, works just fine in an economy that is balanced, both in terms of its output and potential obligations, but something is seriously out of balance when money printing is ushered in, when Deutsche Bank is too big to fail, and is not really a bank but a hedge fund with an investment banking arm, then this is not capitalism in which debt plays a constructive role, but financialization run amok. It will be difficult to reindusrialize when China and new emerging markets coupled into a global trading system. Look at steel output as an example how over production spills over at below cost prices onto world markets crippling domestic producers. It's not just local economies that are unbalanced, but clearly seems to be a global problem requiring global solutions, much like global warming. Hence, leaving the EU is the wrong way forward, in my view. It's better to be part of something massive that can insulate you that venturing out alone. The UK is not a global player. It's a regional one.
Stock slumped below €10 before rising to €11.57 as report suggests bank might pay just over a third of $14bn penalty for mis-selling scandal Let's hope Deutsche Bank are setting a Legal Precedent Are you listening RBS https://www.theguardian.com/business/2016/sep/30/market-fears-forces-deutsche-bank-to-issue-assurances-over-financial-health
I understand much of what you say and the basis that you identify but reading "socialogical texts" is not something I do easily. This is mainly because over the years I have found that everyone is right, at least to some extent. As you infer I approved of much that Thatcher did but some I didn't. Equally, today, I agree with some of what Jeremy Corbyn has been saying but, similarly, disagree with quite a lot, particularly how he thinks his ideas can be achieved. My bottom line, from hard experience, is the 'bottom line'. ie: it is much easier to do the things you want to do, buy the things you need, even buy the things you want, if you first do the work and apply the disciplines that provide the cash in advance. This is not to suggest that I disagree with borrowing, not at all, but the key to borrowing is to ensure that you only borrow at sensible interest rates and have income sufficient to meet the repayments. GL
I think it is time we all bow bow ed out