A billion pounds + giveaway to some and yet at the same time we have the Red Cross setting up emergency food help (for the first time since the second world war) for the starving in this country.
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Well i do not like to compare the two but what could the government have done with the extra billion.
This is nicely embarrassing for the government. Still I would rather the government be embarrassed through something other than giving away millions of assets owned by hard working families.
What didn't you get any shares? How awful for you. It's always annoying other people getting something for nothing if you missed out on the trough isn't it?
Another British asset owned by the people sold off cheap to foreigners.
No doubt various Tory ministers will benefit in the next few years when they are rewarded by getting well paid sinecures in "the City" as a thank you from the vermin that infest the place.
Is it a triumph or a scandal? It turns out Royal Mail was worth rather more than its price tag - and investors are set for a bonanza. Small investors will have already made a couple of hundred pounds on their shares. Big ones, such as the sovereign wealth funds who've been busy buying, stand to make rather more. The government's remaining shares will also of course go up in value, but taxpayers could have had rather more than the amount we've taken in. Labour and the unions remain opposed to the sell off - and some union bosses have said postal workers who've been given over £2,000 worth of stock should bank the money and then go on strike. Labour would not however renationalise. Culture and Digital Editor Paul Mason will be examining what happened today and we'll be debating whether this is an example of good capitalism or bad privatisation.
Another British asset owned by the people sold off cheap to foreigners.
No doubt various Tory ministers will benefit in the next few years when they are rewarded by getting well paid sinecures in "the City" as a thank you from the vermin that infest the place.
Such cynicism! This is for our own good. Master knows best.
I can really see flogging off state assets really cheap to those in the city, and to those in the south east who can afford the money to get shares, going down really well in those northern and midlands marginals the Tories need to win in 2015 can't you?
What didn't you get any shares? How awful for you. It's always annoying other people getting something for nothing if you missed out on the trough isn't it?
Its only a few quid anyway. No doubt easy come, easy go with little, if anything to show for it in 6 months time.
What didn't you get any shares? How awful for you. It's always annoying other people getting something for nothing if you missed out on the trough isn't it?
Huh? I just didn't understand Biffo's comment.
I couldn't be bothered to get head of dept and compliance approval for something where the upside was a few hundred pounds.
The scandal is that Osbourne could have got an extra £0.7 billion for the treasury if he had any nounce or in fact any people in the city who could have told him they were worth well in excess of £5 per share.
Course no one in the City would dare say they were worth more than being sold £3.33.
that would mean they could not make a killing.
It is Price rigging on a monumental scale.
They need brought to account. Banks, Bankers, the city are all criminals involved in very big criminal activities, which are very hard to pin anyone down to.
Wonder what Max Keiser has to say.
We in the UK are being robbed and shafted and all we do is TUT Tut and bend over again.
People out in the country still get gas, electricity and telephone lines, don't they? Even though the companies are privatised and it is more expensive for the companies to maintain, because they are obliged to.
I wonder what the naysayers would have said about the decline in collections, the end of second post and the exorbitant rise in stamp prices if they had happened under privatisation? If it's a declining service whether nationalised or privatised, surely better to privatise, generate the cash for the Exchequer and give people the choice whether to own a share?
Btw it is common for IPOs to be undervalued to attract the investment, not restricted to government selloffs.
Yep that's entirely right, services to unprofitable areas will be maintained as long as the government stumps up the cash to subsidise the loss making parts.
Exactly the same happened on the railways with more subsidies paid to rail companies than there ever was to BR even accounting for inflation.
Btw if I had sold off part of my former company at such an undervalued price I would have had my OH castigating me for being a naive fool and wondering why the new owners have sold it on within a matter of days at a third as much again.
Its funny though i have spent the evening listening to LBC radio phone ins where people of a certain age have been bemoaning energy companies,saying they should be bought back into public hands i thought to myself i wonder who bought the shares in the first place for a quick buck.!!!!!!!!
Well that buck has certainly been paid for many times.;)
It will be - If it becomes unprofitable, once the prime land the RM occupies in cities is sold off and it's under attack from low wage competitors the buck will pass back to the State.
Same happened with Railtrack and all its lucrative land assets.
people are saying by next Tuesday evening they will be 6-7 pounds a share?
Correct BBC economics reporter just said they have gone up to £5.99, Govt sold them off at £3.30, huge undervalue and sold on the cheap. Undervalued by 37% so far..
Correct BBC economics reporter just said they have gone up to £5.99, Govt sold them off at £3.30, huge undervalue and sold on the cheap. Undervalued by 37% so far..
Comments
Well i do not like to compare the two but what could the government have done with the extra billion.
city sources say shares easily £6 when government started at £3.30
Incompetatnce or Arch Villians and crooks, either way they are a bunch of robbing cheating and lying rich boyz.
Cameron ......you need to be HUNG for treason.
Even NOW .Osborne cant get the figures close to what they should be.
Rich kids who know eff all about money, only how to spend it.
Cuts Cuts Cuts, we all suffered........and a half decent salesman could have got £0.7 billion more for POst Office.
They need shooting before they ROB the country dry again.
The city smirkingly knew they were worth £6 at least last week.
Proof?
I don't get it
What didn't you get any shares? How awful for you. It's always annoying other people getting something for nothing if you missed out on the trough isn't it?
No doubt various Tory ministers will benefit in the next few years when they are rewarded by getting well paid sinecures in "the City" as a thank you from the vermin that infest the place.
On Channel 4 news tonight just watching.
Such cynicism! This is for our own good. Master knows best.
Its only a few quid anyway. No doubt easy come, easy go with little, if anything to show for it in 6 months time.
One billion is only a few quid.:eek::eek:
I should have said for the majority of individuals, not collectively.
Individuals may not have lost much indeed they have generally made large gains.
Collectively though people have lost out.
Welcome to popular capitalism.:)
Huh? I just didn't understand Biffo's comment.
I couldn't be bothered to get head of dept and compliance approval for something where the upside was a few hundred pounds.
Course no one in the City would dare say they were worth more than being sold £3.33.
that would mean they could not make a killing.
It is Price rigging on a monumental scale.
They need brought to account. Banks, Bankers, the city are all criminals involved in very big criminal activities, which are very hard to pin anyone down to.
Wonder what Max Keiser has to say.
We in the UK are being robbed and shafted and all we do is TUT Tut and bend over again.
Yep that's entirely right, services to unprofitable areas will be maintained as long as the government stumps up the cash to subsidise the loss making parts.
Exactly the same happened on the railways with more subsidies paid to rail companies than there ever was to BR even accounting for inflation.
Btw if I had sold off part of my former company at such an undervalued price I would have had my OH castigating me for being a naive fool and wondering why the new owners have sold it on within a matter of days at a third as much again.
It will be - If it becomes unprofitable, once the prime land the RM occupies in cities is sold off and it's under attack from low wage competitors the buck will pass back to the State.
Same happened with Railtrack and all its lucrative land assets.
Correct BBC economics reporter just said they have gone up to £5.99, Govt sold them off at £3.30, huge undervalue and sold on the cheap. Undervalued by 37% so far..
http://blogs.marketwatch.com/thetell/2013/10/11/royal-mail-ipo-delivers-1-3-billion-blooper/?mod=sfmw - Great article 'Govt's £1.3billion blooper...'
They closed at 455p a nice profit for a days work.
£4.30 would have been a more reasonable price and a few more bob in the governments kitty.