On Fri, 16 Jan 2009 12:41:45 +0000, dave hill wrote

The one (and only) good thing about this decision, is that it isn't a
decision to spend their (aka our) money, but to allow a PLC to spend its
money.

If there is no business case for the plan, the banks wont lend BAA the
funds.

but hang on i thought WE owned the banks

No, we have a stake in the banks. That's a VERY different thing to owning
them

"Stimpy" wrote
but hang on i thought WE owned the banks
No, we have a stake in the banks.
That's a VERY different thing to owning them.

Very different indeed. basically, we've assumed their debts in exchange for
a large share, which interestingly gives the taxpayer what politicians call
'bugger all' control.

And our leaders have chosen not to exercise what little control they have,
anyway.

Not what I'd call a good deal, but nobody consulted me - they took advice
from merchant bankers, and most of them were the ones responsible for the
mess.

That's democracy, apparently ;o)
--

Andrew

On Fri, 16 Jan 2009 16:00:11 +0000, Andrew Heenan wrote
"Stimpy" wrote
but hang on i thought WE owned the banks
No, we have a stake in the banks.
That's a VERY different thing to owning them.

Very different indeed. basically, we've assumed their debts in exchange for
a large share, which interestingly gives the taxpayer what politicians call
'bugger all' control.

And our leaders have chosen not to exercise what little control they have,
anyway.

Not what I'd call a good deal, but nobody consulted me - they took advice
from merchant bankers, and most of them were the ones responsible for the
mess.

That's democracy, apparently ;o)

My thoughts exactly

Stimpy wrote:
On Fri, 16 Jan 2009 12:41:45 +0000, dave hill wrote
The one (and only) good thing about this decision, is that it isn't a
decision to spend their (aka our) money, but to allow a PLC to spend its
money.

If there is no business case for the plan, the banks wont lend BAA the
funds.

but hang on i thought WE owned the banks

No, we have a stake in the banks. That's a VERY different thing to owning
them


well according to the BBC we (government) have about a 60% stake in
Royal Bank of Scotland that would mean on the Stock market that there
would have to be a bid for the whole schee bang IF it was just another
company building up a stake of that magnitude

And it looks as though more might be needed - where all this money
is coming from god knows