Reply to post: Re: gambling

Cryptocurrencies to end in tears, says investor wizard Warren Buffett

I ain't Spartacus Gold badge

Re: gambling

When did anyone ever bail out the Lloyds names?

As for the bankers, you do realise they weren't given any cash. All the banks were given huge loans (in exchange for collaterol), but had paid them back within 2 years. With interest. We took shares in the 2 banks that didn't have enough collaterol - and have sold the shares in one of those at a profit. IN the case of RBS, the government owns 70% of it - so as long as its share price can recover above the level needed to cover the money it was given - we'll make a profit on that as well.

Not that they didn't screw up the economy. But the taxpayers loaned the banks money, and got a return on it - and/or took shares (i.e. partial ownership) in exchange.

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