Royal Bank of Scotland Poised for Biggest Loss in UK Banking History
August 4th, 2008Via: Telegraph:
THE Royal Bank of Scotland is poised to unveil the biggest loss in UK banking history after taking a hit of almost £6 billion from the credit crisis.
Britain’s second-largest bank is this week expected to reveal a pre-tax loss of at least £1 billion for the first six months of the year, with analysts warning it could slide to as much as £1.7 billion in the red.
The loss would be roughly five times higher than the deficit racked up by Barclays in 1992 at the height of the last recession.
Research Credit: ltcolonelnemo
Posted in Economy | Top Of Page
Are you ready? Paper and metal accounts in US, NZ, Switzerland. Check. Share in a several hundred acre rice farm. Check. Health. Check. Family, Friends. Check. Pray. Check.
The Last Plane Account
http://www.dollarcollapse.com/iNP/view.asp?ID=69
As Biggs explains: “At least once in every century there has been an episode of great wealth destruction when the Four Horsemen of the Apocalypse…have ridden rough-shod…How do you preserve wealth in times when the Four Horsemen are on the loose?”
Biggs goes on to answer his own question: “Asset diversification helped. Real assets such as land, property, gold, or a business were somewhat better than stocks but far from perfect. A working farm protected both your wealth and your life. The other solution was having money outside the country in a safe haven.”