He does have a habit of just throwing everything including the kitchen sink into his arguments, doesn’t he?
RBS is to begin its return to the private sector. Way back in October 2008 I suggested it should be fully nationalised instead. I stick to that view.
Well, OK, it’s an idiot view but, one of the justifications is:
What is more, if they had been done so many of the massive mis-selling and other abuse issues that still hang around the neck of RBS (and so the government) would not have happened.
PPI started in 1990 and ended in 2010. The interest rate swaps would actually have been just fine if it hadn’t been for the collapse of interest rates in 2008. All of the stories and compensation come from contracts entered into before that date.
So, quite how RBS being nationalised in 2008 would have meant that these things wouldn’t have happened I’m not sure.
Unless he’s just insinuating that a nationalised bank wouldn’t have to answer for these things, being able to tell customers to just fuck off?