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avocetocelot

Listed below are comments made by avocetocelot between Friday, 3rd October 2008 and Tuesday, 14th October 2008.

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How to stop bank nationalisation 9:40pm on 14 Oct 2008 I don't understand why the prefs have to yield 12% - a terrible penalty especially as not tax deductible and it's not as if they are risky given the massive equity injections. The Americans are using 5% plus warrants which seems much less penal and allows the equity tier one to build up faster to the benefit of all.
Momentous Monday 11:00am on 13 Oct 2008 This is beginning to look like a bad deal for the taxpayer because the market has worked out the deal is no panacea. As RBS and HBOS are now below the open offer price, the govt would be better off buying shares in the market. The problem seems to me that the govt is penalising the banks too much as the loan guarantee terms are quite harsh and the management interference is signicant. I bet European banks get let off more lightly.
British banks bailed out 12:12pm on 03 Oct 2008 I can understand why HBOS is struggling but, as the biggest mortgage lender in the UK and being partly financed by retail deposits, surely it has enough AAA mortgages left to use as collateral without having to use other assets.

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