RBS Profit

[uncleglen]

About time

https://www.edinburghnews.scotsman.com/our-region/edinburgh/rbs-announce-first-profit-in-10-years-1-4695057

the only reason it was rescued was because Alistair Darling rescued Northern Rock...because his own investments were there -or so I was led to believe- so he HAD to rescue RBS. (and it is in Scotland after all!!)

[flocker spotter]

cool story bro'

[JohnL]

Thursday September 13

News breaks that Northern Rock has sought emergency funding from the Bank of England in its capacity as "lender of last resort".

Friday September 14

Northern Rock confirms that it has agreed emergency funding from the Bank of England. Customers in their thousands rush to Northern Rock branches to empty their accounts. The bank's share price plummets by more than 31% in one day.

Monday September 17

Northern Rock shares slide further, with the stock opening 31% lower after tumbling by a similar amount in the immediate wake of the crisis. Meanwhile, savers continue to queue at Northern Rock branches across the UK. Darling intervenes, pledging that the government will guarantee all deposits lodged with Northern Rock.

>>>>>>Wednesday September 19

Alistair Darling's wife tells him all their money is invested in Northern Rock and he's basically f**d - says he'll be sleeping on the sofa until he sorts it

Thursday September 20

The Bank of England makes a dramatic U-turn in its handling of the credit crisis by agreeing to pump at least ?10bn into longer-term money markets.

Monday October 1

The government announces a new regime guaranteeing 100% of an individual's bank and building society savings up to 35,000.

https://www.theguardian.com/business/2008/mar/26/northernrock

[DuncanW]

yeah maybe....