Is it time to nationalise Royal Bank of Scotland?
The UK government appears intent on throwing billions upon billions of pounds towards the Royal Bank of Scotland with other financial operations such as Lloyds Bank apparently been left in the lurch. For some reason the Royal Bank of Scotland seems to be taken precedence over everything else in sector and there are serious concerns that too much focus is being placed upon the once leading Scottish bank.
The fact is that Royal Bank of Scotland, more than any other UK bank, is now suffering because of riskier transactions which were undertaken over the last few years. UK taxpayers are being exploited to the tune of billions upon billions of pounds while Royal Bank of Scotland shareholders still retain a minority stake in the business. Many are questioning why the Royal Bank of Scotland's has not been nationalised with a suggestion that potential political problems in Scotland may well be holding back what many see as an inevitable outcome.
The longer this alleged bias towards the Royal Bank of Scotland continues the more damage it will do to the general UK banking sector and the more questions will be asked of the PM and the Chancellor of the Exchequer.
Share this..
Related stories
Thomas Cook is the centre of attention
Tour giant Thomas Cook will this week be the centre of attention after UK research outfit Morgan Stanley sounded the alarm bells over the company's increased debt. Citing adverse currency movements, higher than expected exceptional costs, a weakness in working capital and a significant expansion programme over the last few years, the broker believes that the company may find it difficult to refina...
Read MoreSales improve at Marks & Spencer
While Sir Stuart Rose, the chief executive and executive chairman of Marks & Spencer, has been targeted by investors with regards to his overall control of the group today he finally received some good news with details of an increase in recent sales reported. The 13 weeks to 27th June saw a 1.4% increase in like-for-like sales which is a significant increase on the 4.2% reduction in the previous...
Read MoreUK minister calls for more radical reforms
Paul Myners, the UK Treasury Minister, has this evening called for a more radical approach to bank reform amid signs that the pressure is growing on the UK government. One of the recommendations which Paul Myners makes covers the subject of remuneration packages for non-board members of financial institutions. The UK government appears to be determined to reveal the highest earners in the city and...
Read MoreUK new car sales fall 21.9% in February
As the UK authorities continue to hold off supporting the UK car manufacturing and car retail sectors the Society of Motor Manufacturers and Traders has reported a reduction of 21.9% in new car sales in February. This is a bitter blow for an industry which is literally in the last chance saloon and attempting to place severe pressure on the UK authorities to bail them out. So far the authorities h...
Read MoreWhy is the price of gold rising?
As we covered yesterday, the price of gold has now moved to well over $1000 which is an all-time high for the precious metal. It would appear that various factors have come into play to push the gold price to these levels, which is a culmination of an upward trend which has now lasted a total of eight years. So what exactly is pushing the price of gold higher and higher?
A general w...