A Rosy View Of RBS Troubled Assets
We were right.
Yet again.
I’m sure you will all remember the voodoo accounting measures pushed through the EU by banking lobbyists and panicking pols; we were very rude about the likely consequences of banks taking a rosier view of their Troubled Assets than fair open market values provide. Investors really don’t like that sort of thing.
The Royal Bank of Scotland decided to use those provisions, and today announced it had taken a hit of £206 million, instead of the £1.4 billion it would have reported under the old rules.
Somehow I don’t think that Anorakers are going to be terribly surprised to hear that RBS shares tanked…
- Chenier
Posted: 4th, November 2008 | In: Money Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
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November 5th, 2008 at 12:02 am
I wonder how much they will feel able to lend?
Gordie Bruney! You had better bloody well force them to start lending!
Today!
And tell Mandy that he’s a tosser from me.
Fancy saying that customers will be ’surprised’ if the bank rates aren’t cut!
What a twat! The customers will be fucking livid - not surprised!
Oh and Gordie - Get Mandy to register all his interests by the end of the week!
I keep finding bits he has missed out! Slimy bastard!