Sunday, February 22, 2009

"Your questions answered"

Okay. That took two minutes and, no, your questions are definitely not answered. Not unless one of your questions is, "How are Anglo’s Tier 1 capital requirements going to be affected by the nationalisation?" Basically, all these question pages can be summed up as follows:
  • if you're a shareholder - ordinary or preference - you lose
  • if you're a depositor, don't worry the taxpayer has your back
  • if you owed us money, you still owe it
  • if we borrowed from you, don't worry - again - the taxpayer's on hand
There are no answers to questions like, "Who owes you money and how much?"; "How many people at Anglo knew what was going on?"; "What politicians (if any) were involved?".