and a proposal which George and I find very attractive is to flog you shares in the bank you already own, and then when we don't make enough from it to avoid making a loss from the whole, overall "taxpayer supported bail out and buy out" shebang we can turn around and say, hand on heart, 'It's all your fault, you should have been prepared to pay much more for those shares!'"
It Makes No Difference
2 hours ago
6 comments:
Why they never blame Brown for over-paying (or paying anything at all) for the damn things just defeats me.
L, he had to look after Poor Widows With Large Bank Shareholdings, didn't he?
MW - Yes. leaves you speechless doesn't it?
L, the £100 billon-odd which he tipped into Lloyds and RBS is only a small part of the recurring annual subsidies which the banks are getting with tax breaks, low interest funding, QE mark-up and so on.
"Why they never blame Brown for over-paying (or paying anything at all) for the damn things just defeats me".
I think there may be some careful and clever thinking at play here .. if they make a big noise just before a sell off about "he paid too much" might not encourage the hoi-polloi to shell out for them if they are being touted at "purchase price". Which is going to be a hard sell any way, seeing as the "value" was immediately marked down for "government accounting purposes" and a few, may have been tipped the wink, commentators have already opined that the Oik might be happy to defend a "so long as we get the price they are valued at for accounting purposes when we flog 'em of, we've effectively broken even and defended the taxpayer stake" line. If these strategies fail, and the shares don't even hit that "high" then the "It is all George Brown's fault" chuntering will begin, in earnest.
"All George Brown's fault?" Oh dear, I've reached an age where I am having "flashbacks" - it wasn't that "You dance beautifully Bishop*" person, it was his moral compass owning namesake Gordon, of course ..
*http://www.guardian.co.uk/notesandqueries/query/0,5753,-19231,00.html
What is the most embarrassing incident to have occurred in diplomatic or political circles?
"Response to (drunk) Labour Foreign Secretary (1966-68) George Brown at diplomatic reception: I shall not dance with you for three reasons. First because you are drunk, second, because this is not a waltz but the Peruvian national anthem and third, because I am not a beautiful lady in red; I am the Cardinal Bishop of Lima".
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