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Breaking news: Britiain about to partly nationalise British banks
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Anonymous Coward
User ID: 518001
10/7/2008 5:06 PM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
This just takes the piss. First time in ages I have a job, and the world economy decides to go tits up. |
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Anonymous Coward
User ID: 487016 (OP)
10/7/2008 5:35 PM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
Sorry to hear it. Companies are going bankrupt because they cannot get loans to cover their rising fuel bills, etc. I hope your job remains safe until this recession is over. |
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Witness_ 
User ID: 352356
10/7/2008 5:39 PM
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They just fucked the pensions and the equity holders by diluting the stock. |
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Witness_
User ID: 352356
10/7/2008 5:46 PM
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You'll have to forgive me I am part of the dumbed down generation. Is this a good thing or not?
What a great site! |
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i cant remember my name
User ID: 519999
10/7/2008 6:02 PM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
you do realise that shite like this just fuels all the mess that is going on in the markets, but just so you know all the top bosses everywhere, will be making a killing with all the panic in the stock market! it makes me laugh cause i couldnt give a shit, let the world fall to pices all around me, i will just blame it all on bush and blair. one of the most underestimated relationship this world has seen.
all you have to do is sit back and watch the US poke there noses in where its not wanted, just stiring up shit and placing it in the fan with a note on the switch saying "turn me on, you chicken", im not just digging at the US the UK had blair who was like bush fucked with shit he shouldnt be messin with, then got out of there quick and let a big brown turd to deal with all the mess, who just falls asleep juring parlemnt talks! he should have a sign on his head saying "please insert brain here"
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Anonymous Coward
User ID: 520003
10/7/2008 7:06 PM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
So They Bailout The Banks With Our Money OK...
So when we goto the bank and ask for a loan they are just going to loan us money that we already paid for in taxes and ask us for interest on it right? HELLO WAKE UP |
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Anonymous Coward
User ID: 517212
10/7/2008 7:21 PM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
great, now we'll all be bankers
UK has twice the derivatives exposure of the US.
Perhaps you meant that you'll all be paupers. Quoting: Anonymous Coward 519643
The UK is in trouble because of the US, so look there first before posting fool. |
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richyrichard
User ID: 520159
10/7/2008 9:41 PM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
Buying shares of stock in the banks isn't exactly nationalizing. If the government seizes the property and assets of the banks, THAT would be nationalizing. Then, the government could eliminate interest charges (usury), issue debt-free currency in proportion to the increase in the GNP, and "gather" the Jews to their ancient Biblical homeland.
[link to www.richard-t-osborne.com]
[link to www.lonewolfsurvivalist.com] |
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Anonymous Coward
User ID: 519300
10/7/2008 9:53 PM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
BBC News just revealed that up to £50 billion will be spent in a rescue package to buy shares in the major banks. Quoting: Anonymous Coward 487016
Ahahaha well the U.S.A tried that but with $700 Billion and look what good things happened. Im still waiting to count to 1! |
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Kat Mama
User ID: 502623
10/8/2008 12:29 AM
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This whole story looks like a big big money laundering to me... Govs around the world spending mountains of money to save banks and bank toxic assets/investments/practices will be purified! Peace and prosperity for all ;p Quoting: oxygen 300487
Why is it ok for governments to launder money and no one else can get away with it? Oh! That's right. They're the government so they can commit any kind of fraud and crime and still go on as if their shit don't stink.
CONDEMNATION without INVESTIGATION is the HIGHEST form of IGNORANCE |
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Anonymous Coward
User ID: 508028
10/8/2008 2:55 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
This whole story looks like a big big money laundering to me... Govs around the world spending mountains of money to save banks and bank toxic assets/investments/practices will be purified! Peace and prosperity for all ;p
Why is it ok for governments to launder money and no one else can get away with it? Oh! That's right. They're the government so they can commit any kind of fraud and crime and still go on as if their shit don't stink. Quoting: Kat Mama
AGREED! |
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UK
User ID: 217874
10/8/2008 3:31 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
All this talk of billions of pounds, dollas or what ever. Think, what and where is this money going????? its going back to the people that have created the problem in the first place.
They should let them go down, all they are doing is protecting the people that created the problem in the first place. Politicians are going to inject the money to only save their own assets and not ours and they are going to use more of the tax payer money to do this.
How long and how much are we going to tolarate these criminals that reduce the well being of every individual in this country due to there own parasitcal existance.
Next will come war and they will justify why we need to sacrifice our lives to protect theirs.
Look at the historical data of financial callapse, next comes war.
Do not give your one and only life to politicans or religious parasites that only exist throught taking what does not belong to them. SUpport them no longer.
Queen and country, the royal family and all associated with them are parasites and have been for 100s if not thousands of years. they drain your life and the life of your family.
The financial situation at the moments a the start of the parasites now starting to feed of each other becasue there they have consummed everythign else.
Be prepeared if not, you and your family will be in the food lines like everyone else. And they will demand the sacrifice of your life and the life of your loved ones to protect them.
Make the choice--------take responsibility for your own life.-----------------no longer tolarate parasites that feed and exist of others...this includes....royalty, politicians, religous leaders, media, councils. think about what objective value DO THEY PRODUCE, NOTHING THEY JUST TALK......And this is what the parasite does to exist..
IF YOU DO NOT START TO MAKE ARRANGEMENTS TO PROTECT YOUR FAMILY "NOW" YOU WILL BE VERY VERY SORRY IN THE COMING FUTURE....
Derek |
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Anonymous Coward
User ID: 520399
10/8/2008 5:05 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
Isthe U.S.A. going to invade the U.K. now because its socialist? |
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Anonymous Coward
User ID: 408521
10/8/2008 5:09 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
Just heard the news on Channel 4 News. The buy-in share amount will be announced before the markets open tomorrow morning.
[ link to www.ft.com]
Read the Masonic Document at the core of the Satanic NWO entitled:
UN AGENDA 21
It clearly states and calls for the end of the banking and financial systems of Europe, Britain and America, beginning with Private Property Ownership (PPO) and the destruction of the White Middle Class once and for all.
Therefore it will be like V For Vendetta in Britain under eventually some kind of NAZI Socialist Communist Regime and the end of Britain will be final. The White British Middle Class are SO bloody naive and for their naivety they will lose their property ownership rights by 2013-2014 because the UK Government and then the massive inner city rioting and mass genocide will begin. |
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LSD
User ID: 518753
10/8/2008 5:12 AM
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GBPUSD 1.8 by the end of October. |
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Anonymous Coward
User ID: 520399
10/8/2008 5:16 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
WHY THE FUCK IS BUSH ALLOWING THE ENGLISH TO DO THIS?
THEY ARE COMMUNISTS!
THEY HAVE GOVERNMENT SUPPLIED HEALTHCARE, WELFARE AND ARE NOW NATIONALISING BANKS!
SOCIALISM IS ALIVE AND WELL IN EUROPE!
THE RED MENNACE IS HERE!
WHY ARE WE ALLOWING EUROPE TO GO COMMUNIST UNDER OUR NOSE?
WHY ARNT WE DOING ANYTHING?
IF EUROPE CONTINUES DOWN THIS SOCIALIST APPROACH THEN OTHER COUNTRIES WILL FOLLOW LIKE A DOMINO EFFECT AND FREEDOM WILL BE DESTROYED!
DEATH TO SOCIALISM!
LONG LIVE AMERICA! |
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Anonymous Coward
User ID: 318980
10/8/2008 5:24 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
WHY THE FUCK IS BUSH ALLOWING THE ENGLISH TO DO THIS?
THEY ARE COMMUNISTS!
THEY HAVE GOVERNMENT SUPPLIED HEALTHCARE, WELFARE AND ARE NOW NATIONALISING BANKS!
SOCIALISM IS ALIVE AND WELL IN EUROPE!
THE RED MENNACE IS HERE!
WHY ARE WE ALLOWING EUROPE TO GO COMMUNIST UNDER OUR NOSE?
WHY ARNT WE DOING ANYTHING?
IF EUROPE CONTINUES DOWN THIS SOCIALIST APPROACH THEN OTHER COUNTRIES WILL FOLLOW LIKE A DOMINO EFFECT AND FREEDOM WILL BE DESTROYED!
DEATH TO SOCIALISM!
LONG LIVE AMERICA! Quoting: Anonymous Coward 520399
 |
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Anonymous Coward
User ID: 520415
10/8/2008 5:34 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
WHY THE FUCK IS BUSH ALLOWING THE ENGLISH TO DO THIS?
THEY ARE COMMUNISTS!
THEY HAVE GOVERNMENT SUPPLIED HEALTHCARE, WELFARE AND ARE NOW NATIONALISING BANKS!
SOCIALISM IS ALIVE AND WELL IN EUROPE!
THE RED MENNACE IS HERE!
WHY ARE WE ALLOWING EUROPE TO GO COMMUNIST UNDER OUR NOSE?
WHY ARNT WE DOING ANYTHING?
IF EUROPE CONTINUES DOWN THIS SOCIALIST APPROACH THEN OTHER COUNTRIES WILL FOLLOW LIKE A DOMINO EFFECT AND FREEDOM WILL BE DESTROYED!
DEATH TO SOCIALISM!
LONG LIVE AMERICA! Quoting: Anonymous Coward 520399
 |
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Anonymous Coward
User ID: 487016 (OP)
10/8/2008 5:37 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
Rescue plan for UK banks unveiled
BBC News
Page last updated at 08:49 GMT, Wednesday, 8 October 2008 09:49 UK
The UK government has announced details of a rescue package for the banking system worth up to £50bn ($88bn).
It will initially make the extra capital available to eight of the UK's largest banks and building societies in return for preference shares in them.
It is "designed to put the British banking system on a sounder footing", said Prime Minister Gordon Brown.
But the FTSE 100 in London fell 5%. HBOS shares rose 26% but Barclays fell 11% and Standard Chartered dropped 13%.
Taking taxpayers' money will not be a licence to trade as normal
The key points of the plan are:
* Banks will have to increase their capital by at least £25bn and can borrow from the government to do so.
* An additional £25bn in extra capital will be available in exchange for preference shares.
* £200bn will be available in short-term loans from the Bank of England, up from £100bn.
* Up to £250bn in loan guarantees will be available at commercial rates to encourage banks to lend to each other.
* To participate in the scheme banks will have to sign up to an FSA agreement on executive pay and dividends.
Special company
Much of the current crisis has been caused by the banks' unwillingness to lend to each other, so the government hopes that if those loans can be guaranteed then lending will resume.
BANKS SIGNED UP
Abbey
Barclays
HBOS
HSBC
Lloyds TSB
Nationwide Building Society
Royal Bank of Scotland
Standard Chartered
"This is beginning a process of un-bunging a big problem where banks won't lend to each other for long periods," Mr Darling said.
The lenders that have confirmed they will take part in aspects of the scheme are Abbey, Barclays, HBOS, HSBC, Lloyds TSB, Nationwide Building Society, Royal Bank of Scotland and Standard Chartered.
The Treasury said that other banks and building societies would be able to apply for inclusion in the plan.
Possible profit
Preference shares pay a fixed rate of interest instead of a dividend, which has to be paid before other shareholders receive anything, but they do not carry voting rights.
Taxpayers may even end up making a profit from the shares, but that is by no means guaranteed.
BBC business editor Robert Peston said there would be strings attached for banks that take the government money.
"Taking taxpayers' money will not be a licence to trade as normal," he said.
Negotiations will take place with each participating institution that will require them to extend normal credit lines to homeowners and small businesses, in addition to rules on executive pay and dividends to other shareholders.
'Stop the panic'
It is hoped that the deal will get the money markets going again and assure the future of the banking system.
"They've got additional capital now if they want it, they've got an unlimited source of liquidity," said Terry Smith, chief executive of the money brokers, Tullett Prebon.
"That certainly should stop the panic in terms of people wondering whether or not the banks are safe."
The deal has also been welcomed by the banks.
"The government's announcement represents a very real and serious intention on the part of the authorities, following consultation with the banking industry, to bring stability and certainty to the UK banking system," HBOS said in a statement.
Barclays, Lloyds TSB and RBS also issued statement welcoming it.
HSBC also welcomed the plan but said it did not intend to use the recapitalisation scheme.
**************************************************
[link to news.bbc.co.uk] |
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Anonymous Coward
User ID: 518806
10/8/2008 6:26 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
£250billion we could put men on mars for that sort of money.
Hell we cold mine asteroids for minerals for that sort of damn money. We could build a nuclear fusion plant and offer clean electricity to the country and they could still make their precious profits by selling it to us from that one source. |
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Anonymous Coward
User ID: 518806
10/8/2008 6:28 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
Hey have any of you ever thought about this stupid carbon foot print thing. If your electrity gets supplied by one of the Nuclear reactors in the UK, THEN USING THAT ELECTROCITY IS NOT PRODUCING CARBON! Yet they insist that you are!!
Not inffering that carbon or CO2 is bad in anyway. |
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Anonymous Coward
User ID: 487016 (OP)
10/8/2008 6:59 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
£250billion we could put men on mars for that sort of money.
Hell we cold mine asteroids for minerals for that sort of damn money. We could build a nuclear fusion plant and offer clean electricity to the country and they could still make their precious profits by selling it to us from that one source. Quoting: Anonymous Coward 518806
Yes. The amount of taxpayers' money being considered to save the banks is frightening. It is difficult to know whether to laugh or to cry about what is happening. |
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Anonymous Coward
User ID: 518806
10/8/2008 7:00 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
Tax payers money!!! shit i thought it was just coming out of the vaults, like the gold reserves or somthing! WTF! |
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Anonymous Coward
User ID: 318980
10/8/2008 7:06 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
Tax payers money!!! shit i thought it was just coming out of the vaults, like the gold reserves or somthing! WTF! Quoting: Anonymous Coward 518806
Where on earth did you think the money in the vaults came from? |
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Anonymous Coward
User ID: 318980
10/8/2008 7:18 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
£250billion we could put men on mars for that sort of money.
Hell we cold mine asteroids for minerals for that sort of damn money. We could build a nuclear fusion plant and offer clean electricity to the country and they could still make their precious profits by selling it to us from that one source.
Yes. The amount of taxpayers' money being considered to save the banks is frightening. It is difficult to know whether to laugh or to cry about what is happening. Quoting: Anonymous Coward 487016
Although its money only spent if the Banks choose to use it, and in return the taxpayer gets shares in the Bank -whether those shares turn a profit remains to be seen. |
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Anonymous Coward
User ID: 487016 (OP)
10/8/2008 7:24 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
True. HSBC has said it does not intend to use the recapitalisation scheme. It may, of course, start to think differently if its shares start to fall like those of the other banks. The question is: where is this money coming from? The Government already had no spare cash to spend. Borrowing it at this time is going to create inflation problems..... |
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Anonymous Coward
User ID: 357529
10/8/2008 7:25 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
WTF WTF WTF WTFFF
GLOBAL EMERGENCY RATE CUT * UNPRECEDENTED
EFFECTS: UNKNOWN |
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Anonymous Coward
User ID: 318980
10/8/2008 7:27 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
True. HSBC has said it does not intend to use the recapitalisation scheme. It may, of course, start to think differently if its shares start to fall like those of the other banks. The question is: where is this money coming from? The Government already had no spare cash to spend. Borrowing it at this time is going to create inflation problems..... Quoting: Anonymous Coward 487016
That is exactly the question I was asking myself - who does the Government borrow money from? |
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Anonymous Coward
User ID: 357529
10/8/2008 7:28 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
0.50% GLOBAL RATE CUT: FED, ECB, CANADA, CHINA, UK, JAPAN etc |
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Jeanne
User ID: 520129
10/8/2008 8:12 AM | | Re: Breaking news: Britiain about to partly nationalise British banks | Quote |
WHY THE FUCK IS BUSH ALLOWING THE ENGLISH TO DO THIS?
THEY ARE COMMUNISTS!
THEY HAVE GOVERNMENT SUPPLIED HEALTHCARE, WELFARE AND ARE NOW NATIONALISING BANKS!
SOCIALISM IS ALIVE AND WELL IN EUROPE!
THE RED MENNACE IS HERE!
WHY ARE WE ALLOWING EUROPE TO GO COMMUNIST UNDER OUR NOSE?
WHY ARNT WE DOING ANYTHING?
IF EUROPE CONTINUES DOWN THIS SOCIALIST APPROACH THEN OTHER COUNTRIES WILL FOLLOW LIKE A DOMINO EFFECT AND FREEDOM WILL BE DESTROYED!
DEATH TO SOCIALISM!
LONG LIVE AMERICA! Quoting: Anonymous Coward 520399
If the banks are nationalized, than you as co-owner must demand more responsibility of the your employees of the bank, to care more about your money.
Is this not a good idea. They can not do what they want anymore, working only for their own profit? |
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