There have been plenty of comments in these forums about taxpayers having to bail out bankers so is the proposal to give every one on the electoral roll free shares in RBS and LLoyds a good way in rewarding the long suffering taxpayer?
The main points of the proposal are:
About 75% of publicly-owned shares distributed to all British adults on the electoral roll - for free
Recipients get full rights of shareholder
When shares are sold, a fixed "floor price" goes to Treasury to return its investment
The shareholder, who could choose when to sell, would keep any profit
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Public to be given free shares in bailed out banks?
Quote by GnV
Seems a good idea to me. I just hope I wouldn't be disenfranchised :sad:
I look forward to gulson's take on this.
Judging by his reply to my other post, I don't think he's quite got the gist. He thinks it's a ruse to saddle him with the Greek and Irish debt.
If you are disenfranchised, you can have the shares that he has offered me. :wink:
Quote by Andy_Jules
...we had shares in Bradford & Bingley, they offerd us to buy some more at a reduced rate so that they might raise some capital so we did and 6 months later the Govt nationalised it, stripped it of it's assets (cherry picked) selling them to Santander and reduced our share value to £0. An enquiry was raised at a cost of £4million only to conclude 12 months later that it was lawful and tough to our shareholding. B&B were solvent but were unable to raise cash (like most other banks) at a time when it was needed and rather than the GOVT bail them out to the tune of a loan of £250 million they nationalised them. Northern Rock/RBS had how many billions chucked at them?
Shares in the banks? Just another spin from Clegg and would we have any of them? Not a chance, never again will we invest in a bank.
Andy
You're not being asked to invest, the proposal is to give the shares away for FREE. :doh:
Lack of cash is one of the most common reasons for companies failing, many of them are solvent. The shareholders of Northern Rock lost out big time too.
Quote by Andy_Jules
I dont agree, I've already invested in the bailed out banks as a tax-payer, as long as the banks pay back what they were originally loaned and any interest applicable then that's fine by me, but that is where my investment stops. I didn't want the banks to be bailed out by the Govt the first time round, my money as a taxpayer could/should have been used for different things, now they want to give me shome shares in what I didn't want to invest in the first place? I don't think so.
Andy
Have you read the article? 
Sex God
Perhaps a better way to repay the tax-payer would be to seize all the banks' assets (including those offshore) and run them as a national bank offering low or no interest loans and mortgages to those who need them ..... they could even be run as non-profit organisations ....a sort of financial co-operative if you want
I don't want what will end up being a single worthless share in a couple of worthless banks, that will ultimately be used as the reason why we have to bail them out again and again, if they can't find backing to pay us back with interest seize their assets close them down and jail their directors ..... evil parasitic scum all of them
I don't want what will end up being a single worthless share in a couple of worthless banks, that will ultimately be used as the reason why we have to bail them out again and again, if they can't find backing to pay us back with interest seize their assets close them down and jail their directors ..... evil parasitic scum all of them
Quote by Staggerlee_BB
Perhaps a better way to repay the tax-payer would be to seize all the banks' assets (including those offshore) and run them as a national bank offering low or no interest loans and mortgages to those who need them ..... they could even be run as non-profit organisations ....a sort of financial co-operative if you want
I don't want what will end up being a single worthless share in a couple of worthless banks, that will ultimately be used as the reason why we have to bail them out again and again, if they can't find backing to pay us back with interest seize their assets close them down and jail their directors ..... evil parasitic scum all of them
We don't need to seize their assets, we already own a substantial chunk of them.
Quote by Staggerlee_BB
Perhaps a better way to repay the tax-payer would be to seize all the banks' assets (including those offshore) and run them as a national bank offering low or no interest loans and mortgages to those who need them ..... they could even be run as non-profit organisations ....a sort of financial co-operative if you want
i see that you understand very well how banks work.:notes:
the poor sorry old savers though whose money helps the banks make some profit. they might as well put there money under there duvets.
maybe we shud return to the days of savers put money in and get a return and the banks borrow on a slightly biger return.
would that not work for you?:small-print:
maybe that is to simple a plan.
Sex God
Quote by Max777
We don't need to seize their assets, we already own a substantial chunk of them.
I'm greedy Max I think we should get them all
Quote by starlightcouple
i see that you understand very well how banks work.:notes:
the poor sorry old savers though whose money helps the banks make some profit. they might as well put there money under there duvets.
maybe we shud return to the days of savers put money in and get a return and the banks borrow on a slightly biger return.
would that not work for you?:small-print:
maybe that is to simple a plan.
There is no problem with my understanding of how banks work......or in my understanding of what they should do have a point about putting money under the mattress though (sorry duvet)How has your pension performed recently?? I know mine would be worth more if I'd bet on a losing horse....that's why I stopped paying it...the mattress looks like a good option for future investments
Sex God
I'll take the shares if they are free. I'll sell them as soon as they make a decent profit. Can't I just have the money?
