News

**Max Powers**

Royal Bank of Scotland has signed the final agreement to enter the government's asset protection scheme, paving the way for £240bn of toxic assets to be insured.

Earlier this month the bank announced that the European Commission was forcing it to sell more than 300 branches, including the RBS network in England and Wales and NatWest in Scotland, and give up its direct small business customers. It will also have to dispose of its insurance businesses, Direct Line, Churchill and Greenflag, as well as a commodities trading business.

http://www.ft.com/cms/s/0/4f6067ce-dbbd-...abdc0.html

LONDON - THE Royal Bank of Scotland PLC said Friday it has signed an access agreement to the British government's asset protection scheme on terms that will formally increase the government stake in the bank from 70 per cent to 84 per cent.
http://www.straitstimes.com/BreakingNews...59850.html

User ID: 163 11-28-2009 07:16 PM **Posts: 17,775**

They be toast over the Dubai fiasco.

doomed

**Max Powers**

Omega Wrote:

They be toast over the Dubai fiasco.

Dubai debt fears threaten credit crunch 2 — and RBS is exposed
http://business.timesonline.co.uk/tol/bu...935620.ece

User ID: 163 11-28-2009 07:21 PM **Posts: 17,775**

And last I checked here in the States Citi is all in to the tune of 8 billion-ouch-that's gonna leave a mark. Might wanna put some ice on that.

Lmao

**Max Powers**

Omega Wrote:

And last I checked here in the States Citi is all in to the tune of 8 billion-ouch-that's gonna leave a mark. Might wanna put some ice on that.

With questions about Dubai's looming debt obligations swirling, Citigroup Inc. said it had raised $8 billion for the Persian Gulf city-state over the course of the past year and still had a positive outlook on its economy.

Citigroup Chairman Win Bischoff was quoted in the bank's statement Monday as saying Citigroup continues to see Dubai as among its "most significant markets."
http://online.wsj.com/article/SB12293886...outset-box

this was from December of last year.