HBOS Fears of Nationalisation?
Posted by stevelowton on November 14, 2008
Fears? What Fears?
The soon to be ousted Lord Stevenson has been up all night penning a letter to shareholders outlining fears for HBOS if it gets nationalised – see BBC story.
I am at a bit of a loss to understand what these fears are? More capital raising by tax payers – well don’t we own 40% anyway? Share price decline is cited as another threat/ Pardon. The shares were £11 two years ago and are now less than £1 – how much more decline does he expect.
Across the pond both Fannie Mae and Freddie Mac were nationalised so why not HBOS here?
No comment as yet from Gordon, though the two rogue ex executive bidders {well not quite bidders because they didnt actaully have any money}, have said that they don’t like the nationalisation route.
I’d quite like to see it nationalised. Far fewer job losses. Borrowers would be guaranteed fair and competitive rates. Sooner or later it will all start making money agin which will be good for the coffers. No big bonuses or bungs to investors.
And we get to keep Howard as well as Gordon.
Perhaps HBOS does need that little ‘xtra’ help?
Tim Ocsko
This entry was posted on November 14, 2008 at 11:44 pm and is filed under stories. Tagged: Banks, Gordon Brown, HBOS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
head honco said
HBOS Fears of Nationalisation? Am glad to hear they have fears about some thing!!!!!
FIRST they came under fire for splashing out on glitzy staff parties while awaiting Government handouts.
Now the Royal Bank of Scotland and HBoS are being accused of wasting thousands of pounds by cancelling events at the last minute.
Hotel sources say that the banks are liable for 100 per cent of the costs of many of the events they have cancelled in recent days.
They say that the two Edinburgh-based companies are calling off pre-arranged parties only because they fear a public backlash about spending – but they’re not actually saving any money.