Royal Bank of Scotland to be 84% nationalised


	Royal Bank of Scotland to be 84% nationalised

JICWyllie

11-1-2009 8:02 AM

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tags:

1-bailouts, 1-nationalisation, 1-policy, 2-change, 3-reported, 4-uk

JICWyllie says:

More public debt! First money spent on nationalised banks. What next? British Airways? It's all piling more and more debt on the future. I suspect that the future won't pay up.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/78fa33a6-908f-43bc-8b03-f70c2ade5479/FEE00594-0610-48DC-9C48-5037371253F9/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6898097.ece" href="http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6898097.ece" style="font-size: 11px;">business.timesonline.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6898097.ece"><P>
Alistair Darling is preparing to plough billions more of taxpayers’ money into 
Royal Bank of Scotland to take the government stake in the bank from 70% to 
as high as 84%.
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A Treasury announcement this week will confirm RBS is signing up to a 
controversial deal to pump £270 billion of problematic loans into a 
state-backed insurance scheme.
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As part of the deal, the government will pour up to £19 billion of additional 
capital into RBS by taking up an issue of “B” shares. The subsequent 
increase in the taxpayers’ stake will leave the bank virtually nationalised, 
with a small portion of shares left in the hands of private investors.
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The scale of the state aid at RBS has also prompted a savage response from 
Brussels, which is imposing penalties on all European banks bailed out 
during the financial crisis.
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