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What would you have done?



glasfryn

cleaning up cat sick
Nov 29, 2005
20,261
somewhere in Eastbourne
Darling and the Labour government had 2 hours to save the RBS
what would you have done?
 

sparkie

Well-known member
Jul 17, 2003
12,453
Hove
Stop it going bust and prevent peoples savings account balances being instantly set to zero, and cash points shutting down.
 


Beach Hut

Brighton Bhuna Boy
Jul 5, 2003
71,891
Living In a Box
He made a very good choice had the banking system collapsed the country could have descended into a lawless anarchy
 

Mellor 3 Ward 4

Well-known member
Jul 27, 2004
9,748
saaf of the water
Clearly he did the right thing.

However the question surely has to be how on earth did the situation get to point that it did.
 

happypig

Staring at the rude boys
May 23, 2009
7,928
Eastbourne
Nationalised it then drawn up a raft of legislation making such irresponsible profligacy a criminal offence.
 


dazzer6666

Well-known member
NSC Licker Extraordinaire
Mar 27, 2013
51,892
Burgess Hill
Letting RBS go bust would have been a disaster - would have caused a domino effect in the industry (and not just in the uk) due to the fragility of other banks at the time. He didn't have much of a choice.

Fair point from Mellor 3 Ward 4 about how things were allowed to get that state.


Sent from my iPad using Tapatalk
 

Harry Wilson's tackle

Harry Wilson's Tackle
NSC Licker Extraordinaire
Oct 8, 2003
49,051
Faversham
Should of let it go bust then maybe the house prices would now be affordable and not out of reach for many.

Crikey, you really are a 'dangerous idiot' :lolol:

The problem with a house price crash is that anyone who has bought in the 5 years prior is hit by massive negative equity. And interest rates go up. The mortgage does not fall in parallel. I nearly lost my house in 91 because of Lawson's house boom (and bust).
 

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