Black Friday - financial crash thread

[Granny Danger]

1 hour ago, ICTChris said:

I see that RBS had a second Scottish independence referendum listed as potentially impacting it's future performance in the annual results.  I assume that RBS would domicile itself in London if it did become independent, considering it's owned by the British government.

It would be terrible if a company that has been performing as well as RBS was impacted by an Independence referendum.

[ICTChris]

15 minutes ago, Granny Danger said:

It would be terrible if a company that has been performing as well as RBS was impacted by an Independence referendum.

Losses could rise to a million billion squillion pounds.

[Granny Danger]

1 hour ago, ICTChris said:

Losses could rise to a million billion squillion pounds.

So not much worse than their recent performance...

[Ross.]

Would make very little difference as to where they are domiciled. Chances of them ever paying Corporation Tax again are slim to none. HQ move would affect minimal numbers of employees and would be done for political reasons only.

More worrying for RBS would be the impact of independence on the value of GBP. If it dropped another sizeable amount, which is entirely plausible, it would see the cost of their commitments across Europe and America go up substantially. This is the main reason they oppose independence.

Edited February 27, 2017 by Ross.

[Bishop Briggs]

On 24/02/2017 at 12:22, Granny Danger said:

I totally agree.  My point was that so called free market capitalism isn't free market at all as the bank bail outs showed.  I am not saying that we should have let the banking system fail, if we had then everyone would have paid a huge price not just the rich.  But it sticks in the craw when right-wing politicians laud the 'risk takers' in the 'free market' economy.

Under free market capitalism, the banks would not have been bailed out.

Bank and big business bailouts are a feature of crony capitalism or corporatism. 

Remember this?

How did that work out?

[git-intae-thum]

^^^

Poor attempt to smear the SNP as culpable for the collapse of a banking system for which they bear no responsibilty.

Regulations which allowed said collapse were enacted entirely by the Westminster mob.

Salmond wrote a cheesy letter. He probably did similar to numerous top execs.

Neither him nor the Scots govt have any culpability

You must try harder imo.

[Cerberus]

Salmond was torture.
40 years of his life spent looking for Scottish Independence only to be rag dolled by Alistair Darling and Gordon Brown at the finish.

Minter.

[Bishop Briggs]

27 minutes ago, git-intae-thum said:

^^^

Poor attempt to smear the SNP as culpable for the collapse of a banking system for which they bear no responsibilty.

Regulations which allowed said collapse were enacted entirely by the Westminster mob.

Salmond wrote a cheesy letter. He probably did similar to numerous top execs.

Neither him nor the Scots govt have any culpability

You must try harder imo.

Fail!

The issue was the RBS bid for ABN-Amro for which Salmond offered "any assistance that my office can provide".

https://www.theguardian.com/business/2011/dec/12/rbs-abn-amro-fsa-report

"The board of Royal Bank of Scotland (RBS) was united in its collective enthusiasm for a £49bn record-breaking bid for the Dutch bank ABN Amro and was naively untroubled by the lack of due diligence that directors were able to conduct before agreeing the deal, according to a report by the Financial Services Authority.

"The City regulator said the size of the deal combined with the lack of visibility on the risks involved made it "a gamble".

"The 452-page report by the FSA into what went wrong at RBS found that the bank conducted inadequate due diligence into ABN, on the basis of just two lever arch files and a CD."

Senior Ministers should not offer support to businesses or their takeover deals.

[Antlion]

31 minutes ago, kilbowie2002 said:

How dare Alec Salmond write to a bank with a head office in Scotland and wish them well on a business venture (which he wasn't to know was ill advised). Shame on him and his old wife.

You know what would really nail the b*****d and the whole wicked party? Copying and pasting articles from the internet and posting them here without a shred of comment or analysis.

Also known as the BB "chuck enough shit at a wall" method.

[git-intae-thum]

11 minutes ago, Antlion said:

You know what would really nail the b*****d and the whole wicked party? Copying and pasting articles from the internet and posting them here without a shred of comment or analysis.

Also known as the BB "chuck enough shit at a wall" method.

Well it is a bot.

"Bishop Bot"

Just no a very good one

[WaffenThinMint]

32 minutes ago, Cerberus said:

Salmond was torture.
40 years of his life spent looking for Scottish Independence only to be rag dolled by Alistair Darling and Gordon Brown at the finish.

Minter.

And for the entire Scottish Labour Party bar the one in Foundation of Hearts to get spread like a squelchy turd under the wheels of the SNP juggernaut a few months later in the General Election after seventy years of uninterrupted domination.

Extra Strong Minter.

[Bishop Briggs]

19 minutes ago, git-intae-thum said:

Well it is a bot.

"Bishop Bot"

Just no a very good one

Is that the best you can do? 

"My Team : Cowdenbeath"

Lost again in Archie's fog? 

 

[git-intae-thum]

15 minutes ago, Bishop Briggs said:

 

"My Team : Cowdenbeath"

Lost again in Archie's fog? 

 

Sorry you have lost me. Was that meant to be a smart comment. 

[The_Kincardine]

2 hours ago, git-intae-thum said:

^^^

Poor attempt to smear the SNP as culpable for the collapse of a banking system for which they bear no responsibilty.

Regulations which allowed said collapse were enacted entirely by the Westminster mob.

Things the Scot Nats regard as 'English' and for which they take no responsibility:

1. The BBC.  English as f**k.  Started by John Reith.
2. Westminster.  English as f**k yet dominated by Scots since John Stuart was PM in 1713.
3. Banking. Dominated by Scottish banks to the extent that England had to make a law limiting the expansion of Scottish banks.
4. Empire.  A thoroughly Scottish enterprise yet eschewed by the Scot Nats and the brain-dead posters on here.

Edited February 28, 2017 by The_Kincardine

[git-intae-thum]

20 minutes ago, The_Kincardine said:

Things the Scot Nats regard as 'English' and for which they take no responsibility:

1. The BBC.  English as f**k.  Started by John Reith.
2. Westminster.  English as f**k yet dominated by Scots since John Stuart was PM in 1713.
3. Banking. Dominated by Scottish banks to the extent that England had to make a law limiting the expansion of Scottish banks.
4. Empire.  A thoroughly Scottish enterprise yet eschewed by the Scot Nats and the brain-dead posters on here.

No. Britnats need to recognise them as British failures. Any faults are faults of unionist Scots in union.

Wots wi the Japanese flag btw?

[The_Kincardine]

16 minutes ago, git-intae-thum said:

No. Britnats need to recognise them as British failures. Any faults are faults of unionist Scots in union.

Tsk.  The Big Boy clause.  Not that I'm surprised.

16 minutes ago, git-intae-thum said:

Wots wi the Japanese flag btw?

Simply my appreciation of sashimi and saki.  Heehaw to do with the recent 'red dot' debate on here.

[git-intae-thum]

51 minutes ago, The_Kincardine said:

Tsk.  The Big Boy clause.  Not that I'm surprised.

simply the truth bigyin. I have accepted it.  Can you?

History is history. Past triumphs and failures are exactly that. In the past.

Sashimi is good.

Cut doon on the saki

 

 

 

 

 

 

[Antlion]

8 hours ago, The_Kincardine said:

Things the Scot Nats regard as 'English' and for which they take no responsibility:

1. The BBC.  English as f**k.  Started by John Reith.
2. Westminster.  English as f**k yet dominated by Scots since John Stuart was PM in 1713.
3. Banking. Dominated by Scottish banks to the extent that England had to make a law limiting the expansion of Scottish banks.
4. Empire.  A thoroughly Scottish enterprise yet eschewed by the Scot Nats and the brain-dead posters on here.

Revealing your ethnic approach to nationalism there, pal.

I'm not sure whether you don't understand or are simply pretending not to, but Scottish nationalism is about objecting to how the system and constitution work with regard to Scotland and its citizens as a nation, not how many native Scots get to work (or have got to work) in the service of the UK state.

To assume that simply being born in Scotland implies that one will work for Scots' advancement and progress is like assuming that the lot of women was de facto improved by Maggie Thatcher's Prime Ministership. In political terms, it's like assuming that Lord Shelbourne should have quelled Irish discontent with the UK by being born in Dublin.

Personally speaking, I reckon an English or French or Spanish resident in an independent Scotland would have a greater care for governing Scotland as FM (or PM, or President, or whatever) than Edinburgh-born Tony Blair did as UK PM.

Edited February 28, 2017 by Antlion

[Baxter Parp]

8 hours ago, The_Kincardine said:

Things the Scot Nats regard as 'English' and for which they take no responsibility:

1. The BBC.  English as f**k.  Started by John Reith.

Started by John Reith my arse, it was started as a commercial enterprise to sell radios.  Reith was a hired hand. 

8 hours ago, The_Kincardine said:

2. Westminster.  English as f**k yet dominated by Scots since John Stuart was PM in 1713.

 Pish. There has never been more than 12% Scottish representation in Westminster.  In 1713 we had 45 MPs out of 486

8 hours ago, The_Kincardine said:

3. Banking. Dominated by Scottish banks to the extent that England had to make a law limiting the expansion of Scottish banks.

Banking: regulated by the FCA directed by Westminster. In any case "Banking in the United Kingdom can be considered to have started in the Kingdom of England in the 17th century."  You seem to be greatly misinformed.

8 hours ago, The_Kincardine said:

4. Empire.  A thoroughly Scottish enterprise yet eschewed by the Scot Nats and the brain-dead posters on here.

How can the British Empire be a Scottish enterprise you dimwit?  An English and later British enterprise directed by Westminster and heavily influenced by the various trading companies that had been set up long before the union.

[Ross.]

When I worked for Barclays I always found it funny when they bummed up Bob Diamond and the fact that Barclays hadn't needed a bail out from the UK Government.

Had it been up to Bob they'd have outbid RBS for ABN and had it not been for the Qatari wealth fund putting their money into Barclays(And all the rumours about the guarantees that were given there....) then Barclays would have been gubbed as well.

ETA: TBF to Kincardine, the Empire was massively beneficial to a lot of Scots and Scotland for a very long time. Glasgow in particular was built off the back of slave labour and the access to the West Indies that the Empire afforded it.

Edited February 28, 2017 by Ross.