Quote:
Originally Posted by Chris
Its a bit more involved than that but the book value is, IIRC, what the asset is currently valued at, not what we paid for it. At the moment, I think those shares are worth quite a lot less than we paid for them.
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Yeah it would certainly be the book value, which is why I said most, since we would have also chucked a load away writing off bad debts we'll never get back. Still my point is the measurements they're using are the most negative you can find. Selling off the banks and seeing growth would paint a much better picture.
They say we're the odd one out when all the other countries with similar finances have collapsed but that's because the underlying fundamentals were healthier in the UK. This isn't just spin, it's the reason borrowing costs are so low for the Government. The simple stats don't show the whole story.