A secret £165 billion loan and a stock options bonanza

November 8th, 2009 by stacyherbert

Stacy Summary:   Yowza!  £165 billion!!!!!  That’s twice as much as the AIG bailout and is more than 10% of the UK annual GDP (this year at £350 b / quarter)

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29 responses so far ↓

  • Bonn
    Nov 8, 2009 at 2:18 am

    @ Stacey
    Secret £165 billion loan keeping Lloyd’s alive

    Honey the public did’nt do anything when it was done openly what makes you think its gonna make any difference now . Lynching is the only option plus Transperacy , no CIA, no FBI, no whats the UK thingy ? Scotland Yard required.

  • stacyherbert
    Nov 8, 2009 at 2:20 am

    @Bonn – i would guess that it wasn’t kept secret for fear of the people, but for fear of a sell off in the pound or FTSE / banking shares

  • Bonn
    Nov 8, 2009 at 2:20 am

    its no longer one on one, By thier accords its Gang Bang now.ROFL :-)

  • Bonn
    Nov 8, 2009 at 2:23 am

    @ Stacey
    Nope putting myself in thier shoes i wouldnt care a rats ar*e about the shares, or Stock market.
    I would only be woried about my BONUS :-)

  • Bonn
    Nov 8, 2009 at 2:26 am

    That thingy that the Capitain goes down with the Ship is all nonsense. Nowdays the capitian says lets go into an Iceberg and have an Auction of the Lifeboats and Life Jackets .

  • Bonn
    Nov 8, 2009 at 2:29 am

    And i Bet if U or Max got to see the Real Accounts of Lloyds u’d be like “another 165 Billion , you must be crazy look at your Toxic Assets man ” “Go Hug a Tree Lloyds along with Al Gore” ROFL PMSL

  • Freemarkets
    Nov 8, 2009 at 2:35 am

    The BoE has mortgaged the British People by Stealth and subjected to the banking fraudsters wishes! QE money has also gone to the banks by stealth! This system will inevitably collapse! Lloyds Rbs and I expect the other british banks are stressed beyond the limits already and when the US commercial prperty crash hits it will not be possible to hide it any longer. If you bank with these guys – good luck to you! A government guarantee is only good if the government is solvent?

  • TJ
    Nov 8, 2009 at 4:26 am

    There’s a vid floating around Youtube that claims all British subjects were declared “Lost at Sea” in 1666, on the eve of the great fire. I’ll see if I can find the link.

  • The Man from Glad
    Nov 8, 2009 at 4:28 am

    @Freemarkets, The BoE and the Fed are both freebasing QE now.

  • TJ
    Nov 8, 2009 at 4:42 am

    The Great Fire of London a smokescreen?

    http://www.youtube.com/watch?v=Jk_hfAhBzGk

  • Palantíri
    Nov 8, 2009 at 4:56 am

    The first question that pops up in my head is; why would someone lend that amount of money to an unstable bank in the first place? Wikipedia says the operating income (before tax and interest) for 2008 was £3,819 million with a tiny profit of £84 million last year, when Bank of England gives a bank such a gigantic loan, do they actually expect to be paid pack? It feels like the credit card scam on a whole different level, give out free money because the money itself doesn’t cost anything but then you get drawn into the web of interest payment you never get out of. The article says Bank of England will make record profit from fees and interest rates paid by the bankers for emergency funding, is there a difference between earning profits from peoples credit card use beside that the scale is vastly different? Why doesn’t the bank – full of wounds, bleeding to death – realize that it would be better to just die than to be kept artificially alive only to suffer even more?

  • Douglas aka Thunder Preacher
    Nov 8, 2009 at 5:37 am

    Lloyds must be up to their eyeballs in derivatives; like the Twin Towers where in thermite. Now wait for the implosion that will hit the other towers as well sending a worldwide shockwave around the globe that will wipe out billions of bank accounts. It is just a game of who will go first…

  • Troy Ounce
    Nov 8, 2009 at 5:48 am

    This secrecy and bail out is not going to stop; it will get worse.

    Trust in the leaders will be gone soon. Fasten your seat belts.

  • Bonn
    Nov 8, 2009 at 5:52 am

    @ Stacey
    The Other thing is Stacey they have gotten away with it in the past so obviously they gonna continue with thier big Bonuses. And from my experience of 33 years on this planet having met people i have realized they always have a “Whats in it for me? attitude” and “They always never satisfied” .I had a friend who followed me in life till i cut him off last year, ROFL he was a “Freeloader” through out his life he has Scamed People not having once treated anyone save for the Day the scam artist was born and that too was a half treat.

  • Bonn
    Nov 8, 2009 at 5:55 am

    And once your Personality is Set in by your late 30’s only a Jail term is gonna Change it ROFL PMSL

  • Bonn
    Nov 8, 2009 at 5:56 am

    * late 20′s (correction)

  • Bonn
    Nov 8, 2009 at 6:05 am

    Whats in it for me Attitude
    N Call my Personal Lawyer “hey mate can i get caught ?” “well we got away with it the last time ”
    ROFL Plus the Judge is in our Pocket “We’ll just throw some Economics Jargon with fake Math and a little more Calculus , hmmm lets Integrate the whole thing backwards ROFL PMSL,the Judge wont know its all nonsence Because we have a Double PhD guy explaining the nonsence works”

    Oldest Trick in the Book “here look at my left hand People , Stare at it While my right hand reaches into your Wallet”
    ROFL PMSL

  • Devon Hall
    Nov 8, 2009 at 7:16 am

    Hi max I love your analysis. Money is debt and debt is money the present monetary arrangement is like a millstone around the neck of people of the globe. For money to come into existence it has to come through debt. The Central Bank Gangsters are spreading their poisionous tentacle like a giant octopus in every conner of the global economy. This is anarchy amounts to high crimes and misdemeanor. These Wall Street crooks should be tried before the Hague locked up and trhrow away the keys into a bottomless pit and let them rot behind bars.

  • Devon Hall
    Nov 8, 2009 at 7:34 am

    You are right Max. The banks never loose. The the ordinary workers are the scape goat. It is like a chess game and to be successful in this chess game you have to join them in order to play the game successfully or overtrow them by demanding value for money. you cant win in this game the bankers are looking out for their friends and associates and they will do anything necessary to get ahead of the players in the game. They have created a monetary aristocracy for themselves and their partner in crime and, if you are not a part of that syndicate you are absolute loosers

  • Chris
    Nov 8, 2009 at 7:41 am

    By the way, NYT Has 2 interesting headlines, one about the Health Care Bill that just passed the House, and the other about bank bailouts and bonuses. Here’s the cost breakdown.

    Cost of giving all Americans Healthcare: $1 trillion over 10 years with a $500 billion savings to medicare, so only $50 billion per year.

    Cost of ensuring bankers don’t have to pay for their mistakes and keep getting huge salaries and bonuses: $12 trillion in one year.

    At these rates, the US could have given health care to four or five other countries for the cost of the banker bailout!

  • Bonn
    Nov 8, 2009 at 7:46 am

    @ Chris
    At these rates, the US could have given health care to four or five other countries for the cost of the banker bailout

    They dont care about blokes in thier own country.n you think they gonna help out some other country?
    its all about them lining their pockets with $$$$$$$$$$$$$ when the next Bubble bursts its like they go for shoping in a grocery store for companies

  • stacyherbert
    Nov 8, 2009 at 8:10 am

    @Chris – and what is the annual cost of securing oil reserves? they admit to $1 trillion / year

  • FreeMarkets?
    Nov 8, 2009 at 9:23 am

    I guess that the tobin tax will make us all feel that justice has been served on the Ganksters, only for a short while until they realise how to dress it up into a tradeable illusory prodct! We will get a tobin bubble and Golman will issue a special bonus based on future tobin profits. The whole banking system is a crooked mess!

  • merci
    Nov 8, 2009 at 9:31 am

    @Chris

    It’s even worse than this. My husband works in Medicine in a specialty where patients average 65y/o or older. Already his MediCare provider payments are dismal….this new bill will be slashing payments to providers (drastically slashing) and will make it more likely that those who can, will simply retire. We live a very modest life and are middle class.

    He makes a valuable contribution to society….went through years of schooling and he loves his work. The physician he works with is devastated by this new “reform”. It is not about having a lavish lifestyle, that is not the norm among the majority practicing medicine. Most are middle class.

    So the crooks in charge would rather give all that money to other crooks than pay providers a decent salary to provide a valuable service for MediCare patients. This health care bill is going to be a disaster if it goes through.

    The money they say they are “saving” is the money that pays the very providers of needed health care services. Another way to lower the standard of living while enriching the scum who do nothing but push paper and find new ways to extort.

    The system has become completely corrupt.

    Once again, it punishes those who are contributing and are responsible and rewards the moneyed interests and those who want money for nothing.

  • houseofcards
    Nov 8, 2009 at 10:06 am

    Money Quote:
    ‘RBS, meanwhile, faces another potential row over staff bonuses. The bank is offering cash advances to its bankers to by-pass new rules. Cut-price loans are being offered to staff allowing them to instantly release the value of bonuses being paid in shares. The loans would enable them to borrow against up to 25% of the total value of the bonus, at interest rates of 3.75%. The bank claimed the rate represented “commercial terms”, even though it is lower than the mortgage rates offered by RBS to customers’.

    I’d like to know what drugs made HBOS look like a good deal to Lloyds? They must have been on something.

  • barb
    Nov 8, 2009 at 12:07 pm

    Hey Max and Stacey,

    Here’s one to get you going -

    Goldman Sachs boss: ‘bankers do God’s work’: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6524972/Goldman-Sachs-boss-bankers-do-Gods-work.html

    Great to see Ellen Brown on your TV show. Best writer about bank reform I’ve read.

    Just finished Galbraith’s ‘Money’ and liked this from the intro: “Men possessed of money, like men earlier favoured by noble birth and great title, have infallibly imagined that the awe and admiration that money inspires were really owing to their own wisdom or personality. The contrast between their view of themselves,as so enhanced, and the frequently ridiculous, even depraved reality has ever been a source of wonder and rich amusement…Much discussion of money involves a heavy overlay of priestly incantation…cultivating the belief that they are in privileged association with the occult…This too is a well-established form of fraud…”

    Keep ‘em coming guys -

  • Marc Authier
    Nov 8, 2009 at 12:20 pm

    Keep the slaves asleep. That way it’s less painful to bleed them to death.