Originally Posted by Astor_Kaine
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.