Is it the banks or Goverment appealing to The House of Lords??

[helpmeclaim]

Hello,

Just a quick qestion to EXC, Amethyst etc.

As the banks are now pretty much goverment owned am i correct in thinking that it is the goverment that is appealing to the house of lords?

and it will be us the tax payers paying for it?

Its crazy in my view it is the govermant who is appealing as they are the majority sharehoulders.

Has the OFT etc even thought about this. It would be nice to hear all your views or if i am completley wrong

Thanks

[EXC]

Re: Is it the banks or Goverment appealing to The House of Lords??

Although the government have major shareholdings in some banks, they don't run them as such and don't have anyone on the board so their status is essentially that of any other shareholder. So it's not really the government appealing as they aren't calling the shots.

Although it will take some time the government's shares will be sold at a profit it shouldn't cost the taxpayer anything in the long run.

And we're not talking much in the way of the cost. In refunding £20b odd (less than RBS alone lost last year) spread over a dozen banks - most of which don't have government shareholding - is no big deal really.