Government Connection Kills another Building Society

#1
So now the Dunfermline BS is to be dismantled and the good bits sold off with us the taxpayer keeping the nasty bits.

This has been in the public domain for several weeks now yet once again the treasury has done little but stick it's thumb where it shoudn't. It is not surprising that after weeks of speculation the BS is unrescuable. The big excuse is that they could never pay back a rescue loan, so the so called good bits get sold of on the cheap to some other bank and guess who picks up the bill for the bits that cant be sold.

Perhaps a swifter rescue package in the Frog style might have got things sorted much faster and left us with less risky assets.
 
#3
janner said:
Never mind Peter, the English have bailed you out again :roll: :roll:

http://uk.news.yahoo.com/21/20090330/tuk-nationwide-takes-over-dunfermline-6323e80.html
If this was to be the outcome whay has the bunch of numpties in the treasury taken so long to come up with the answer. Only last week the nationwide said they weren't interested. Not only that the Scottish government offered a signifficant part of the cash to save the Dunfermline because they have a long history of supporting social housing in Scotland and the Scottish government wanted to ensure that continued.

I see in this plan the dead hant of Brown and Darling who would rather see another bank or building society go to the wall than work with the SNP government in Scotland to make a rescue work.

At the end of the day this will mean that we the tax payer will end up carrying the whole can for this rather than trying to get a commercial solution.
 

FlagWagger

GCM
Book Reviewer
#5

Similar threads

Latest Threads

New Posts

Top