Royal Bank of Scotland will get 'billions' in US bail-out of economy

The Sunday Herald reports today:

THE ROYAL Bank of Scotland is to be one of the biggest beneficiaries of the planned $700 billion bail-out that comes courtesy of the American tax-payer if the US Congress gives the financial rescue package the go-ahead this weekend.

The bank's share of the bail-out will enable RBS to offload billions of dollars of questionable assets.

The bank's shares closed last Friday at 205p, a 71% fall from their pre-credit-crunch peak. However, analysts and investors predict that the shares will rebound sharply when markets open on Monday morning if the bail-out is approved over the weekend.

The Edinburgh-based bank will be able to write off a significant portion of its dodgy assets thanks to the bail-out, also known as into Tarp, the Troubled Asset Relief Programme as a result of the bank's significant presence in the US.

Oh, the expensive irony . . .

For reasons I won't go into, I receive, almost daily, McCain snail spam. Sometimes I open it for kicks.

The most recent plea is for contributions to the "John McCain General Election Compliance Fund" to, in part, pay for "federal election law legal and accounting activities."

Rock Star

Like a rock. Solid.