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> Berkshire local taxpayers lose out, RBS Prosecution
gel
post Jan 31 2017, 05:10 PM
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RBS CASE- Fraud; huge cost for Berkshire taxpayer:

http://www.thamesvalley.police.uk/newseven...m.htm?id=348230

Perhaps our Police Commissioner should send the bill for costs to the Scottish Commissar aka Mss Sturgeon,
or Gordon Brown who drove RBS to go on its reckless acquisition (spending spree) some years past.

Have to agree with Stansfield's views on this investigation and the impact on TVP's operations
& financial impact.

Of course besides cost to local council tax payers of this case, UK Taxpayer has been underwriting
RBS's losses for many a year. Thanks Gordon sad.gif
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newres
post Jan 31 2017, 07:20 PM
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Well done on airbrushing Fred Goodwin out. What is it with people blaming government when the issue was greed and poor management?
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Andy Capp
post Jan 31 2017, 08:39 PM
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QUOTE (newres @ Jan 31 2017, 07:20 PM) *
Well done on airbrushing Fred Goodwin out. What is it with people blaming government when the issue was greed and poor management?

...and ineffective regulation.
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blackdog
post Feb 1 2017, 11:14 AM
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QUOTE (newres @ Jan 31 2017, 07:20 PM) *
Well done on airbrushing Fred Goodwin out. What is it with people blaming government when the issue was greed and poor management?

Once upon a time there were rules, rules that ensured banks were run in a manner that protected customers who deposited money in banks. Then came the Blessed Margaret and she said - what rot! Can't have some pettifogging rules preventing our fine bankers for having a flutter with their customers' cash. And so she had the rules removed. And lo! the bankers gambled and lost.

Yes it was greed and may well have been poor management (though few were complaining before the bubble burst), but the root cause was deregulation.
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newres
post Feb 1 2017, 01:49 PM
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QUOTE (blackdog @ Feb 1 2017, 11:14 AM) *
Once upon a time there were rules, rules that ensured banks were run in a manner that protected customers who deposited money in banks. Then came the Blessed Margaret and she said - what rot! Can't have some pettifogging rules preventing our fine bankers for having a flutter with their customers' cash. And so she had the rules removed. And lo! the bankers gambled and lost.

Yes it was greed and may well have been poor management (though few were complaining before the bubble burst), but the root cause was deregulation.

Not Gordon Brown and Nicola Sturgeon then?
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Andy Capp
post Feb 1 2017, 03:39 PM
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QUOTE (newres @ Feb 1 2017, 01:49 PM) *
Not Gordon Brown and Nicola Sturgeon then?

Brown was chancellor for a long time and 'enjoyed' the tax from the profits made.
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blackdog
post Feb 1 2017, 05:08 PM
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QUOTE (newres @ Feb 1 2017, 01:49 PM) *
Not Gordon Brown and Nicola Sturgeon then?


Not Sturgeon, she has never been a position to do anything about it, the problem was in the financial markets, not Scotland.

Brown and all the other prime ministers and chancellors since deregulation are certainly to blame for not re-establishing some sensible ground rules - Thatcherism/Reaganism created a period of growth and affluence, largely based in the UK on the sell off of a large chunk of government assets and freeing the financial market to pretend their assets were worth much more than they were.

Major, Blair and Brown seemed to think it would last forever. Brown found out the hard way that it wouldn't. He did a pretty good job of rescuing the situation, but we are still paying for it.
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