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Old 10-08-2008, 03:39 PM   #5
Pavlos
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Join Date: Sep 2005
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Quote:
Originally Posted by Astor_Kaine View Post
What did they work out the cost for us all was? £1600?

I'm glad that the Government is now actually doing something about it, but it's worrying if they have NO backup plan whatsoever.
Because it's a preference share the holder (i.e. the state and in theory the taxpayer) will receive money before the company pays share dividends. Provided the banks do not collapse (which is unlikely -- never say never! -- with such massive recapitalisation plan) then the taxpayer should see a return. Although it will mean the bankers will wake up to a very different Canary Wharf the morning after, this absurd Zen-mix of capitalism and socialism could well be a better, if more surreal, solution than the buying of toxic debts.

Put it this way: At least we have a stake in the profits as well as the losses.


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