RBS shares marginally less popular than Gary Glitter

! This post hasn't been updated in over a year. A lot can change in a year including my opinion and the amount of naughty words I use. There's a good chance that there's something in what's written below that someone will find objectionable. That's fine, if I tried to please everybody all of the time then I'd be a Lib Dem (remember them?) and I'm certainly not one of those. The point is, I'm not the kind of person to try and alter history in case I said something in the past that someone can use against me in the future but just remember that the person I was then isn't the person I am now nor the person I'll be in a year's time.

I know it’s hard to believe but it appears that being a Scottish bank hasn’t, as previously thought, been a good enough reason for investors to plough their life savings into a bankrupt Royal bank of Scotland. Go figure.

RBS had another bumper rights issue as part of the deal with the devil Alistair Darling to get their hands on a few billion more of our hard earned cash. The idea was that they’d get loads of money of the taxpayer and then issue a few million shares to dilute the taxpayers stake in the bank to make sure the UK Treasury was a minority shareholder. Which would have been quite clever if it wasn’t for the fact that the bank is insolvent and the shares quite obviously so high risk as to be worthless as evidenced by the fact that hardly anybody has bought any of the new shares.

The upshot of this is that the UK Treasury now owns 57.9% of “oor bank”. That should please Alex Salmond.

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  1. axel (1214 comments) says:

    Wee Al is not the devil, he is just a cock smoker

  2. axel (1214 comments) says:

    I wonder, did Paul Gadd choose his stage name because it ryhmed with bottom or did the wags make it rhyme after finding out what he was like?

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