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While Repo 105 may have been a uniquely Lehman trick, it gives a broader clue to one of the mysteries of the credit crunch. Top executives at Bear Stearns, Washington Mutual, Royal Bank of Scotland and Northern Rock were adept at rattling off impressive figures on healthy debt ratios in the run-up to financial collapse.

 

While Lehman fiddled the books with "Repo 105". The Royal Bank Of Scotland has created its own internal tricks, "Router Accounts" and "Transitioned Accounts" :D. The end result is the same, artificially inflated balance sheets, money that doesn't really exist, profit that isn't really there....lies on top of lies.

 

Debbie

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While Lehman fiddled the books with "Repo 105"

 

No suprise they got an English firm of solicitors to give an opinion that this was above board.

 

Notably, they couldn't get a US firm, (of any repute) to do so.

 

David

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i am beggining to wonder if NASTY WEST and RBOS are involved in this as well,since these router accounts must have been used as possible securites ...what other use could they make of inflated accounts apart from offering as collateral...we now know that MOVE OVER DARLING had to make a secret loan to them in the region of 183billion..so he must be aware of these accounts...darling did not even tell the select committe for finance about the loan the head of the nationa audit office kept it secret perhaps a FOI to him might reveal what we want to know mmm i wonder ?

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No suprise they got an English firm of solicitors to give an opinion that this was above board.

 

Notably, they couldn't get a US firm, (of any repute) to do so.

 

David

 

I beg to differ they could NOT get ANY firm at all to sanction their behaviour

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Just a reminder to my RBS buddies who regularly peruse the thread....the clock Is ticking! :):):)

 

 

CLOCK.gif

Edited by paulwlton

An appeaser is one who feeds a crocodile, hoping it will eat him last. <br />

Winston Churchill

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Just a reminder to my RBS buddies who regularly peruse the thread....the clock Is ticking! :):):)

 

 

CLOCK.gif

 

I think you are understating matters by saying the "clock" is ticking ...based on the information you have allowed me privy to ...I would say that the "explosive charge clock" is ticking;):)

 

sparkie

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FinacialMailSnippet-1.jpg

Couldn't make this much bigger cos I'm a dumbo at enlarging it ....this is out of todays Financial Mail by Richard Dyson...it tells about the RBS calling the police while I was handing out my DVD's trying to get them to move me.:):D

 

sparkie

Edited by Sparkie1723
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Yesterday RBS said Mr Pell's pension was not just for his ten years at RBS, but also included his 29 years working for Lloyds before he joined the Scottish bank in 2000.

Oh, that's all right then.:rolleyes:

Els

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The RBS boss walking off with a £13m pension pot

 

 

 

 

 

Thats nearly in a week what a lot of the people RBS have squashed into the ground earn in a year.

 

How much longer can the people stand for this ............Enoch POwell was right they will be riots in the streets and they will not be race riots.

Sometime somewhere things will explode unless the "Govt of the People" ( That's one hell of a laugh isnt it?) do something about it soon

 

 

sparkie

 

sparkie

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