RBS Shares sold at a loss

[London_Manila]

Osborne sells off 2.1 billions worth of shares and makes a 1 billion loss

Typical Tory lining the pockets of his mates in the city

Of course sold to City institutions so no one else can get their hands on them

Purchased with taxpayers' money :cwm23:

[les_taxi]

The predicted outcome for the shares was not good as RBS are still awaiting possible penalties for past dodgy dealings of this bank. He has taken a hit yes but it's a bit like someone borrowing £50 quid off you and offering to pay back £30 or do you gamble that your mate will get his finances sorted. I'd take the money every time .Labour paid too much for the shares to the tune of £18 billion!

[London_Manila]

The predicted outcome for the shares was not good as RBS are still awaiting possible penalties for past dodgy dealings of this bank. He has taken a hit yes but it's a bit like someone borrowing £50 quid off you and offering to pay back £30 or do you gamble that your mate will get his finances sorted. I'd take the money every time. Labour paid too much for the shares to the tune of £18 billion!

It amazes me how you can even try and defend Osborne losing 1 billion pounds of the public's money :doh

I would imagine Les that this equates to a lot of benefit scroungers :wink:

They introduce unfair taxes like the bedroom tax and then without the bat of an eyelid they can write off 1 billion

[les_taxi]

They introduce unfair taxes like the bedroom tax
Unopposed by Labour, remember :biggrin:

I'm not defending him, I have read a lot about the reasons why he has sold them off as I thought it was wrong myself, but it seems there is no Guarantee the shares would go higher with impending lawsuits from across the pond.

Only time will tell as if we knew the answer I'm sure we would all be into buying and selling shares :xxgrinning--00xx3:

[les_taxi]

This was an interesting read :xxgrinning--00xx3:

http://www.thisismoney.co.uk/money/comment/article-3185389/ALEX-BRUMMER-Criticism-George-Osborne-s-sale-RBS-stake-1bn-loss-misplaced.html

[London_Manila]

It probably goes along with Gordon Brown's great idea to sell off the UK's gold when the price of gold was at a very low price :doh