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https://www.thetimes.co.uk/article/new-chancellor-rishi-sunak-cashed-in-on-fund-that-helped-break-banks-rb7zgfqkz

Rishi Sunak was part of a small team of hedge fund bosses who shared nearly £100m after an audacious stock market bet that lit the touchpaper on the 2008 financial crisis.

The new chancellor was a partner at the hedge fund TCI when it launched an activist campaign against the Dutch bank ABN Amro in 2007, resulting in its sale to the Royal Bank of Scotland (RBS).

The deal loaded RBS, at the time led by Sir Fred Goodwin, who was stripped of his knighthood in 2012, with crippling debt and led to a £45.5bn government bailout.

Sunak’s time at TCI between 2006 and 2009 made him a multimillionaire in his mid-twenties and, according to fund managers who worked with him at the time, set...

(that's as much as The Times will show you without payment)

It's enough to show that the claim is nonsense though. Similar to saying I legally clamped your car, and you got a replacement car and crashed it while driving dangerously, therefore I'm responsible for you having a car crash.

 

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1 hour ago, HolyCow said:

Any truth in this tweet?

 

Theres a very good book on RBS

https://www.theguardian.com/books/2013/sep/16/making-happen-goodwin-martin-review

I can assure you TCI does not get a mention.

RBS was entirely a lunatic CEO supported by the lunatic Brown.

Not sure how you can get from activists trying to split up ABN , to the idiots at RbS who decided to buy ABN

RBS took over ABN in 2007. Hed been at TCI for a year.

https://www.theguardian.com/business/nils-pratley-on-finance/2011/dec/12/what-rbs-board-thinking-abn-amro

The ' bet that lit the touchpaper on the 2008 financial crisis.'  was started in 2002 with cretin Brown lax control, leading to this speech in June 2006

https://www.ft.com/content/00a235ba-015d-11db-af16-0000779e2340

Finance blew up1 or 2 later. I'd didnt start in America. It was all in the UK.

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It sounds like the beginning of an attempt at a rewriting of history to try to sway people who don't know any better.

It's on a par with

Quote

 

Liam Young

For a decade my generation has been told to stop buying avocado on toast in order to get on the housing ladder. And now they’re telling us to buy as much avocado on toast as possible to keep the economy afloat. They’ll just tell us whatever sh*t they need to, wont they?

 

His last sentence is correct except that it looks like he's doing a good impersonation of being one of the "they".

Edited by twocents
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I read something about him being involved during GFC.

Had to explain to my sister that the £4 she got off her meal yesterday wasn’t free, it was paid for with our taxes. She then starts saying that she can never afford a house and it’s the boomers fault, so who cares.

I asked her if she thinks that the problem is that there are too many people in the U.K. and she agreed. I then asked why she votes for parties that continually increase the population, and pays money in to charities like Amnesty International.. silence..

She’ll come around.. 

If it wasn’t for the boomer parents, I’m not sure where she would be living. I am having difficulty trying to explain to her that if the hand she is dealt with is so bad, only she can improve it.. 

Sunak is popular - but his fiscal policies are disturbing. Perhaps the Tories realised there’s no incentive in balancing the books anymore. Labour can’t take credit when/if they get in power at least.. 

 

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33 minutes ago, sam1994 said:

I read something about him being involved during GFC.

Had to explain to my sister that the £4 she got off her meal yesterday wasn’t free, it was paid for with our taxes. She then starts saying that she can never afford a house and it’s the boomers fault, so who cares.

I asked her if she thinks that the problem is that there are too many people in the U.K. and she agreed. I then asked why she votes for parties that continually increase the population, and pays money in to charities like Amnesty International.. silence..

She’ll come around.. 

If it wasn’t for the boomer parents, I’m not sure where she would be living. I am having difficulty trying to explain to her that if the hand she is dealt with is so bad, only she can improve it.. 

Sunak is popular - but his fiscal policies are disturbing. Perhaps the Tories realised there’s no incentive in balancing the books anymore. Labour can’t take credit when/if they get in power at least.. 

 

In 20 years the boomers will all be dead and she will still be paying off that meal.

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1 hour ago, sam1994 said:

I read something about him being involved during GFC.

Had to explain to my sister that the £4 she got off her meal yesterday wasn’t free, it was paid for with our taxes. She then starts saying that she can never afford a house and it’s the boomers fault, so who cares.

I asked her if she thinks that the problem is that there are too many people in the U.K. and she agreed. I then asked why she votes for parties that continually increase the population, and pays money in to charities like Amnesty International.. silence..

She’ll come around.. 

If it wasn’t for the boomer parents, I’m not sure where she would be living. I am having difficulty trying to explain to her that if the hand she is dealt with is so bad, only she can improve it.. 

Sunak is popular - but his fiscal policies are disturbing. Perhaps the Tories realised there’s no incentive in balancing the books anymore. Labour can’t take credit when/if they get in power at least.. 

 

She is in for a rude awakening how old is she 

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18 minutes ago, stokiescum said:

She is in for a rude awakening how old is she 

32..

she is wasting her time with the most beta geezer you can imagine and she loves working with kids and being around them but this is not going to be the guy to have kids with, as sad as that sounds. I’ve tried to sit her down and tell her she is wasting her time. My old man agrees but my Mum says if she’s happy.. problem is she doesn’t appear to be particularly happy and I think this shit could drag on for years. By the end of it she will blame all of us for this crap.

I would like the best for her and this probably deserves its own topic, but it’s a tough one to approach. 

Edited by sam1994
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6 minutes ago, stokiescum said:

Keep out of it is my advice betas make the best mates for most women anyway alphas are just that alphas but ironicly I’m not one they are my natural opponents .id realy keep out of giveing your sister advice your mums correct 

Stokie, I agree to an extent. I don’t want my sister pumped and dumped by an alpha. The guy can’t open a can of beans.. I had to show him how to open them. 

He has no aspirations and works in a supermarket. He is 28. I asked him what his aspirations were and he said he hopes the government recognise his true merit one day and start taxing people to pay a true wage.. 

 

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2 minutes ago, sam1994 said:

Stokie, I agree to an extent. I don’t want my sister pumped and dumped by an alpha. The guy can’t open a can of beans.. I had to show him how to open them. 

He has no aspirations and works in a supermarket. He is 28. I asked him what his aspirations were and he said he hopes the government recognise his true merit one day and start taxing people to pay a true wage.. 

 

I’ve never had aspirations until recently he’ll i only bought my first hovel until 8 years ago .im a low paid wanker basicly lol .id still keep out of it . Even though I’ve got aspirations now it does not mean I can decide or do anything with them .if I buy another terrace I’m a parisite aciarding to most on this forum but no one moans if I take a lodger why I don’t understand has your still makeing cash from a house .id keep out of it mate if they are both happy 

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1 hour ago, stokiescum said:

I’ve never had aspirations until recently he’ll i only bought my first hovel until 8 years ago .im a low paid wanker basicly lol .id still keep out of it . Even though I’ve got aspirations now it does not mean I can decide or do anything with them .if I buy another terrace I’m a parisite aciarding to most on this forum but no one moans if I take a lodger why I don’t understand has your still makeing cash from a house .id keep out of it mate if they are both happy 

I'll keep an eye on it. I don't think my sister is happy.. and to an extent this other bloke.

Not expecting her to marry some city bloke but the bloke genuinely cannot open a tinned can. I do not know how that can happen.

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