BRITAIN: Osborne Set to sell-off RBS & the loss to taxpayers this time – around £14-billion – Reports ‘

#AceNewsReport – Featured Report:June.10: According to reports a decision to be announced at the Mansion House was being made to sell-off, RBS that the UK taxpayer took a huge stake in back in 2008.

This was of course after bankers risked all on sub-prime mortgage market in the USA. Now the time has come to sell-off the stake. As with Lloyds and TSB banks. Of course the institutional investors will get lions share. These are amongst the ones that helped put us in the global crisis in the first place, including Wall Street bankers.

Anyway this time it will be a loss to the taxpayer of £14-billion. This of course is a drop in the ocean said one investment CEO today to the BBC almost justifying grand larceny under the guise of good business.

Today this was Reuters take by two writers on our chancellors deficit credentials, see what you think and let me know?

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' Supreme Court Will Not Permit Trustee Working to Recover Money to Sue Major Financial Institutions '

#AceWorldNews – UNITED STATES (Washington) – June 30 – The Supreme Court will not let the trustee working to recover money for Bernard Madoff’s investors sue major financial institutions for their role in Madoff’s massive fraud.

The court refused Monday to hear an appeal from trustee Irving Picard, who wants to pursue tens of billions of dollars from UBS AG, HSBC Bank PLC and other institutions.

Picard, as trustee for the Securities Investor Protection Corporation, has brought claims in bankruptcy court alleging that the institutions were complicit in Madoff’s vast Ponzi scheme because they provided him with financial services while ignoring obvious signs he was a con artist.
A federal appeals court ruled that Picard doesn’t have legal standing to make claims against the financial institutions that Madoff’s burned customers could make themselves. (AP)

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