RBS paying back the taxpayer

Treasury nets £977m as RBS profits more than double to £1.6bn

So, RBS are paying almost a billion in dividends to the treasury from one years performance. I think this bank has also paid enforced reduced bonuses recently, and are complaining about the fact that they cannot attract the best talent, however they are still making a profit.

The article linked states that the bank wants the company returned to private hands quicker than was planned, despite the shares being worth less than half of the bailout price per share.

My question is this - Why would the country want to dispose of the shares in the bank if there is going to be an ongoing dividend paid, and more importantly why should the public accept this happening. The bank would have likely went bust without taxpayer support, so why should we bail them out, get back less than our initial bailout and lose potentially billions of ongoing revenue?
 


Treasury nets £977m as RBS profits more than double to £1.6bn

So, RBS are paying almost a billion in dividends to the treasury from one years performance. I think this bank has also paid enforced reduced bonuses recently, and are complaining about the fact that they cannot attract the best talent, however they are still making a profit.

The article linked states that the bank wants the company returned to private hands quicker than was planned, despite the shares being worth less than half of the bailout price per share.

My question is this - Why would the country want to dispose of the shares in the bank if there is going to be an ongoing dividend paid, and more importantly why should the public accept this happening. The bank would have likely went bust without taxpayer support, so why should we bail them out, get back less than our initial bailout and lose potentially billions of ongoing revenue?


Likely gone bust ?

It was hours away from going tits up man , the government stepped in to stop a total collapse of the financial system.

I’d keep the shares , but knowing our useless lot at the top of the then government we’ve probably got a contract in favour of the bank anyway.
 
Likely gone bust ?

It was hours away from going tits up man , the government stepped in to stop a total collapse of the financial system.

I’d keep the shares , but knowing our useless lot at the top of the then government we’ve probably got a contract in favour of the bank anyway.

Yeah, I was understating things a little bit I suppose :lol:

I see the answers roughly correspond with what I was thinking though. Just seems like madness to me, and I can't see what justification the government will be able to use when they do go down this route
 
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Yeah, I was understating things a little bit I suppose :lol:

I see the answers roughly correspond with what I was thinking though. Just seems like madness to me, and I can't see what justification the government will be able to use when they do go down this route

They will say that it is in the country's best interest to give it away cheap as they are not qualified to run a bank.
 
Treasury nets £977m as RBS profits more than double to £1.6bn

So, RBS are paying almost a billion in dividends to the treasury from one years performance. I think this bank has also paid enforced reduced bonuses recently, and are complaining about the fact that they cannot attract the best talent, however they are still making a profit.

The article linked states that the bank wants the company returned to private hands quicker than was planned, despite the shares being worth less than half of the bailout price per share.

My question is this - Why would the country want to dispose of the shares in the bank if there is going to be an ongoing dividend paid, and more importantly why should the public accept this happening. The bank would have likely went bust without taxpayer support, so why should we bail them out, get back less than our initial bailout and lose potentially billions of ongoing revenue?

Tory ideology.
 
Treasury nets £977m as RBS profits more than double to £1.6bn

So, RBS are paying almost a billion in dividends to the treasury from one years performance. I think this bank has also paid enforced reduced bonuses recently, and are complaining about the fact that they cannot attract the best talent, however they are still making a profit.

The article linked states that the bank wants the company returned to private hands quicker than was planned, despite the shares being worth less than half of the bailout price per share.

My question is this - Why would the country want to dispose of the shares in the bank if there is going to be an ongoing dividend paid, and more importantly why should the public accept this happening. The bank would have likely went bust without taxpayer support, so why should we bail them out, get back less than our initial bailout and lose potentially billions of ongoing revenue?
Let the bank buy the shares at the price the government paid for them. Simple.
 
Likely gone bust ?

It was hours away from going tits up man , the government stepped in to stop a total collapse of the financial system.

I’d keep the shares , but knowing our useless lot at the top of the then government we’ve probably got a contract in favour of the bank anyway.
They should have put a tight grip around the throats of the banks they saved. All employment contracts cancelled and put on civil service wages, NO bonuses of any kind until all debt is paid off. If they didn`t like it, good luck with finding another highly paid job amongst all of the other failing banks. But what did we do? Pretty much nothing. While most of us suffered and continue to suffer with biting austerity, they all lived it up like nothing happened. Steven Hester of the RBS even admitted that bail out money had been used for bonuses. Absolutely disgusting.
 
They should have put a tight grip around the throats of the banks they saved. All employment contracts cancelled and put on civil service wages, NO bonuses of any kind until all debt is paid off. If they didn`t like it, good luck with finding another highly paid job amongst all of the other failing banks. But what did we do? Pretty much nothing. While most of us suffered and continue to suffer with biting austerity, they all lived it up like nothing happened. Steven Hester of the RBS even admitted that bail out money had been used for bonuses. Absolutely disgusting.

The even sadder thing is not much found its way to the coalface ie to actually support business
 

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