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28 November 2008

Royal Bank of Scotland/Natwest falls into public ownership

Today, 28 November, was the day when RBS was essentially nationalised. Virtually no private investors took up the 20 billion of shares offered for sale and they ended up in the government's hands. We, the taxpayers, now own 57% of RBS.

So it will be interesting to see if RBS continues to fight the test case appeal and hearing on 9 December. Can we look forward to one set of highly paid lawyers from the OFT (funded by the taxpayer) battling it out with another set of highly paid lawyers from RBS (also now funded by the taxpayer).

See BBC website story and Bob the Bankbuster press release on the subject – did not get any interest from the media – they have virtually lost interest in this issue.

Published and promoted by Bob Egerton, TR2 4RS