Discover and read the best of Twitter Threads about #loboloans
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The #BBC's @Hoskea10 digs into #LOBOloan bank debt at Sheffield City Council (from 27mins) bbc.co.uk/sounds/play/m0… #Sheffield had to pay a £12.3m "breakage loan" to the Royal Bank of Scotland #RBS to escape a £20m loan.
Clive Betts, Chair of @CommonsCLG and a Sheffield MP said: "that the bank #RBS actually gets a double benefit, once for fiddling the #LIBOR interest rate, a second time when their council #LOBOloan interest rates go up" bbc.co.uk/sounds/play/m0… #localgov #fraud
#Newham resident @rachel_shares said: "this country has to stand up to the financial institutions that made hundreds of millions of pounds out of them over the last decade. Who has the most power in this situation, #Barclays and #RBS, or Newham Council?" bbc.co.uk/sounds/play/m0…
