We're in the money!!

[jake-the-peg]

It looks as if the Governments investment in bailing out Lloyds has turned a small profit.

http://www.thefirstpo...crisis-recession-over

Perhaps if this continues the Government can give up taxing us and raise money by speculating on the stock exchange!

Like they did in the South Seas bubble - how did that turn out?

[Gromit]

That was always the theory and this £10bn is a step in the right direction, but it will be a long time yet before we see all our money back.

// The commitments include buying £76bn of shares in Royal Bank of Scotland and the Lloyds Banking Group; indemnifying the Bank of England against losses incurred in providing more than £200bn of liquidity support; guaranteeing up to £250bn of wholesale borrowing by banks to strengthen liquidity; providing £40bn of loans and other funding to Bradford & Bingley and the Financial Services compensation Scheme; and insurance cover of over £280bn for bank assets. //

The secret will be wait to get our money back. However, the Tories have a crazy plan (though it hasn't been mentioned at all this the day it was revealed) to privatise these state owned banks and sell the shares at a huge discount (ie. at a loss).

http://www.dailymail....tate-owned-banks.html

[jake-the-peg]

Well I don't think anyone will argue about re-privatising the banks.

Banks aren't really the sort of things that need to be in public ownership.

I guess selling at a loss might make sense for them if they can blame the last government and cut losses for short term advantage.

But I can't see them getting that past Vince Cable

[Gromit]

jake-the-peg

That would be funny if Vince gets to be Gatekeeper. It could work and rein in the more bonkers policies.

Hung Parliament - bring it on.

[BertiWooster]

How gutting it will be for Gordon Brown, eh

He was criticise by many people , including the tories for pumping billions into these banks . Now they are about to turn a profit , it's looking like Cameron will be at the reins , to claim the credits, unjustifiably .

By the way what post will Nick Clegg be given in the con/lib alliance , given that he could work with the Labour party , but not with Brown ?

[jake-the-peg]

Cameron will be at the reins?

Do you seriously think a con/lib alliance would work Bertie?

Cameron opposes electoral reform
Liberals want to redistribute wealth through the tax system
Liberals are pro Europe


How's that going to work then?

[BertiWooster]

I agree Jake , it does seem an unlikely alliance , on the face of it .

Given however that the polls ( if they are to be believed ) are constantly indicating
a hung parliament with the tories just in front ; and additionally Clegg stating that he wouldn't be able to work with Brown - I can see Cameron doing whatever it takes, in order to get into Number 10 .

[youngmafbog]

Are we now going to stop bashing bankers then ?

[jake-the-peg]

Can I wait for the outcome of the Golmann Sachs case before answering that?