that would be because you agreed to those overdraft conditions when you opened the account.
In any case, the two things are hardly comparable. Unless you are suggesting you want to have your overdraft reduced by selling shares in yourself?
( the mighty badger Aphrodite, on a bar stool, by your side, Mon 14 Jun 2010, 12:10, 1 reply)

Well, yes. So, erm ... how come the banks don't have to pay overdraft fees to us since we've had to bail them out?
Oh yes. Because those conditions don't apply to the banks.

Because, er ... because the bankers are rich enough to pay off the politicians.
( Je suis un vagabond is an unfunny, up your own arse middle class knob, Mon 14 Jun 2010, 12:14, closed)

They don't have to pay overdraft fees because it's not an overdraft.
Or anything even vaguely like an overdraft. Do pay attention, and take off the tinfoil hat, there's a good chap.
( the mighty badger Aphrodite, on a bar stool, by your side, Mon 14 Jun 2010, 12:20, closed)

Really? Only it seems to me that they didn't have the money to pay off the debts they'd created, so the government paid them off ...
using the taxpayers' money ...
( Je suis un vagabond is an unfunny, up your own arse middle class knob, Mon 14 Jun 2010, 12:23, closed)

Yeah, and now we own or part own them.
If they paid us overdraft charges it would be idiotic. Like paying them to ourselves.
( TFD is sporting this season's finest necropants, Mon 14 Jun 2010, 12:27, closed)

fuuny that. so - how do i go about selling my shares?
oh - oh I can't. Because I don't really own or part-own them at all.

But I'll be paying for them, mind.
( Je suis un vagabond is an unfunny, up your own arse middle class knob, Mon 14 Jun 2010, 12:28, closed)

They're held on your behalf by a representative that you elected.
You don't need me to explain democracy to you right?
( TFD is sporting this season's finest necropants, Mon 14 Jun 2010, 12:31, closed)

No, not at all.
So ... how come I don't get a share of their profits, then?

Oh yes. Silly me. The profits are privatised. It's the debt that's nationalised.
( Je suis un vagabond is an unfunny, up your own arse middle class knob, Mon 14 Jun 2010, 12:33, closed)

The government gets a share of the profits - they get a dividend on the preference shares they own.
£600Million per year - as stated above. In fact, they get this even if the bank makes a loss.
( The Teviot Moose major 5th., Mon 14 Jun 2010, 12:35, closed)

Just like any shareholder we will make our money when we choose to sell our shares.
This will most probably be at a substantial profit and the money from that does go to you. Both the cost and the profit are nationalised.
( TFD is sporting this season's finest necropants, Mon 14 Jun 2010, 12:36, closed)

You elect a government who's policy is to sell the government's holding in the banks.
citywire.co.uk/money/election-2010-tories-plan-to-sell-lloyds-and-rbs-shares-next-year/a393188
( The Teviot Moose major 5th., Mon 14 Jun 2010, 12:33, closed)

No...
The debts still exist, the government did not pay them off, they took an investment in the bank(s) to ensure that they had the liquidity to maintain payments on these debts whilst they were restructured, and to give the market back the confidence to lend the banks money at less dislocated rates.

Remember, all that money that the government has put in is either a) due to be paid back, b) pays a significant dividend (see above) or c) can be sold by the government to the private sector at any time on the open market. Potentially for a huge profit - if the banks become successful again.
( The Teviot Moose major 5th., Mon 14 Jun 2010, 12:33, closed)

That would be the politicians profiting from it, then.
Oh yes.

What was it I was saying about the bankers paying off politicians?

Silly me!
( Je suis un vagabond is an unfunny, up your own arse middle class knob, Mon 14 Jun 2010, 12:36, closed)

Do you think that the government's holdings in RBS and Lloyds are actually owned by your MP?
They are owned by the State. The UK Treasury - en.wikipedia.org/wiki/UK_Financial_Investments_Limited

In fact, if you're so inclined, you can get a job with them : www.ukfi.co.uk/job-opportunities/

Edit : If you're interested, the price at which the government make a profit on their investments are 63.2p per share in Lloyds, and 49.9p per share in RBS. Both banks have been over this price in the past year.
( The Teviot Moose major 5th., Mon 14 Jun 2010, 12:43, closed)

The government haven't bailed out the banks
They've bought some shares. If you get too deep into your overdraft, you can sell some I'd your stuff too.
(Vlad the Inhaler forgot his password, Wed 16 Jun 2010, 14:59, closed)