People will wonder how did a massive, proud organisation like the Royal Bank of Scotland succumb to nationalisation. Buying Dutch bank ABN Amro was in retrospect a very bad idea but it was obvious that Fred the Shred wanted to put one over Barclays,
which set the ball rolling. This year's £12bn rights issue was again in retrospect not enough capital but Fred the Shred should have perhaps gone then. However, he should certainly have been replaced in the negotiations with the UK authorities.
It is thought that the UK government taking control at Royal Bank of Scotland (RBS) and at Halifax Bank of Scotland (HBOS) will put a dent in the SNP's ambitions for Scottish independence. Perhaps, the party will make a bit of a comeback asking for representatives on the respective boards.
wwww.searchaccountant.co.uk
Apparently, Gordon Brown and Alistair Darling will say there will be no state interference but if the state holdings are in place for a long time, then there will be government control.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment