The BBC has gathered reactions from across Scotland to news of the government's $51.2 billion purchase of the Royal Bank of Scotland Group plc. - Maria Woehr
RBS,£10 Billions profits PA, was6th most profitable bank on the planet.Apr08 interims showed £ 5 B profits ,write downs derived from US Sub primes of £5.7 B , and rapidly improving ratios following 2 disposals.Either Directors have not made full W/Down disclosures, the auditors have failed in their job, or the underlying profits ( set to rise to £11B acording to the directors once the ABN Ambro profit centres kick in) are largely still there. Lets assume £ 9B underlying profits over the next 3 years. If Bush/Paulson plan to remove toxic loans had allowed RBS to write back the write downs then this mega bank could have traded through with less UK Govt support. Say another New Capital £12B only - half in Prefs.Repay 3B.pa. At £2/share it was a false market created in part by Paulson & Co Inc ( New York Hedge Fund) shorting 0.87% of the RBS share capital.)
I had 50% of my retirement funds in RBS Ord shs.
I was a loyal shareholder forced into overnight 65% capital loss and 7K p.a. income loss. recently I sent £12K for the recent Rights issue. It had taken me 28 years to build this. The treatment of RBS ord. shareholders is unfair. Each shareholder is no doubt prepared to take a hit. More than 30% (dilution) in this false market is surely not nescessary.
RBS,£10 Billions profits PA, was6th most profitable bank on the planet.Apr08 interims showed £ 5 B profits ,write downs derived from US Sub primes of £5.7 B , and rapidly improving ratios following 2 disposals.Either Directors have not made full W/Down disclosures, the auditors have failed in their job, or the underlying profits ( set to rise to £11B acording to the directors once the ABN Ambro profit centres kick in) are largely still there. Lets assume £ 9B underlying profits over the next 3 years. If Bush/Paulson plan to remove toxic loans had allowed RBS to write back the write downs then this mega bank could have traded through with less UK Govt support. Say another New Capital £12B only - half in Prefs.Repay 3B.pa. At £2/share it was a false market created in part by Paulson & Co Inc ( New York Hedge Fund) shorting 0.87% of the RBS share capital.)
I had 50% of my retirement funds in RBS Ord shs.
I was a loyal shareholder forced into overnight 65% capital loss and 7K p.a. income loss. recently I sent £12K for the recent Rights issue. It had taken me 28 years to build this. The treatment of RBS ord. shareholders is unfair. Each shareholder is no doubt prepared to take a hit. More than 30% (dilution) in this false market is surely not nescessary.