way2go 0 Posted January 14, 2010 Share Posted January 14, 2010 Copied from a thread on another site Here's what Kane of Lloyds had to say about Rangers House of COMMONS MINUTES OF EVIDENCE TAKEN BEFORE SCOTTISH AFFAIRS COMMITTEE. BANKING IN SCOTLAND. Wednesday 9 December 2009 MR ARCHIE KANE Mr Davidson: Can I just seek confirmation that Lloyds is not run by Celtic supporters who are trying to do in Glasgow Rangers based in my constituency? Mr McGovern: Can I just ask, when are you actually going to pull the plug on Rangers? It would make me happy. Q300 Chairman: I think these are the most difficult questions! Mr Kane: Do you want me to respond? Q301 Mr Davidson: Yes. Mr Kane: Normally we do not discuss individual client relationships. The Rangers Football Club is clearly high profile, high media coverage and we understand the importance that Rangers has, not only in Glasgow, but right across the whole of Scotland, and internationally it is an iconic brand. We have a facility with Rangers and, clearly, we are working with them to try to ensure that Rangers gets through the issues that it is facing at the moment and comes out and is successful in the future, but we do not interfere in the management of Rangers, we have nothing to do with the management of Rangers, we do not appoint people to the board of Rangers and we want to try and make sure Rangers comes out of the position it is in, the same way we would treat any one of our clients. Q302 Chairman: Thank you, Mr Kane, for your attendance. Once again, I am sorry that we started late. Because of this, there are some questions we were unable to ask. The Clerk of the Committee will put those questions to you in writing and we would be very grateful if you could give us written answers to those questions. Thank you once again. Your evidence was very helpful for the Committee. Mr Kane: Thank you, Chairman. I would be happy to respond to any written questions. Chairman: Thank you. http://www.publications.parliament.u...iii/uc7002.htm 0 Quote Link to post Share on other sites More sharing options...
Totti 0 Posted January 15, 2010 Author Share Posted January 15, 2010 I am no economist but the fact we're in debt to the tune of 31M or so to Lloyds means they own us. They run us because if you own or buy an organisation's debt, you own the organisation as such. Like Abramovich immediately owned Chelsea because he instantly paid the 150M debt they owed. Or are my sums off here? There's football clubs in far greater debt to banks who have very little input from the bank. 0 Quote Link to post Share on other sites More sharing options...
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