Great business idea and investment plan for investors!
Posted by admin on 26 February, 2009 under Business news | 
8 Comments to Read
The business has just made the biggest loss in UK history of £24.1 billion is the headline!
On top of making such a spectacular loss it has £325 billion of toxic assets, but all is not lost as the Government has just bailed the business out to the tune of £13 billion of taxpayer’s money, having already paid in £20 billion last year.
The great news about the toxic assets is that the business is only responsible for £19.5 billion of the total £325 billion, and that the business has been trading for some 282 years, so it is a well established company!
The business is looking to restructure, sell off parts and make up to 20,000 redundancies over the coming year to reduce costs by around £2.5 billion per annum.
The company trades as the Royal Bank of Scotland or (RBS) and also owns another large UK bank National Westminster Bank and recently purchased ABN Amro an American bank.
Obviously this post has been done with a bit of “Tongue and Cheek”, but it just goes to show the extent to which the UK Government is having to go in order to avert a bigger banking crisis than we already have.
I have also written it in this format to help demonstrate how obviously absurd it is that a business is able to make things go so spectacularly wrong and yet be allowed to survive in what is supposed to be a “Capitalist” economy!
No more “Boom and Bust” Gordon Brown said, what a joker. This Government needs to take stock and needs to call an election sooner rather than later.
Not only is it the bank chairman’s, like in this case Sir Philip Hampton, that should have their heads on the block, so too should the Government. The Government should accept their part of the problem and take responsibility for what has happened and stop passing on blame to the US.
Week ended 28 February 2009 | in business blog for successful entrepreneurs said,
[...] took over in January 2009. However, this huge loss is not as high as the record loss suffered by The Royal Bank of Scotland (RBS) earlier this week amounting to £24.1 billion! There are some huge numbers being banned about [...]
almir said,
unbelievable either way how such banks are suffering huge losses. But yet this business idea might be a great thing after all.
SEO guy Leeds said,
I like to think of it this way – as more and more big businesses get into trouble it creates a vaccuum that smaller businesses can get in there and fill. I haven’t heard of any Indian micro-banks going bust yet.
Request for Proposal said,
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It is scary how much damage one sector can cause in the markets. Much more than the standard 15-20% correction …
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