Every household in the country is sitting on paper losses
of almost pounds 1,000 so far on bail-outs for Royal Bank of Scotland and Lloyds Banking Group.
2 billion shares to settle their loans amounting to Sh17 billion.The shares were acquired at a price of Sh7.78 each but the airline's stock price has since dropped 51.7 percent to close at S.75 on Friday, resulting in the lenders' paper loss
of Sh8.6 billion.
On reports that RM2 billion had been wiped out from Bursa Malaysia, Dr Mahathir asserted the amount of paper loss
was nothing compared to the burden of a RM1 trillion debt that had been inherited and is now being shouldered by the current government.
RBS's share price slumped more than 5% yesterday, leaving City investors that bought the stake sitting on a paper loss
Big investors who bought the shares were sitting on an initial paper loss
after the price fell to 448p yesterday.
New figures released by the central bank show that it recorded a paper loss
of EUR75m on its gold deposits.
Mechel has released US GAAP financial results for Q2 2012 reporting paper loss
of almost 1 billion dollars.
Drahi was identified as the single biggest loser over that period, having incurred a paper loss
of some 243 million new shekels ($62 million) through his stock ownership of HOT cable company.
But the pounds 34.5bn currently invested had shrunk to pounds 23.6bn as of June 30 - a 32% paper loss
of pounds 10.9bn, equal to about pounds 950 per household.
By that reckoning, the paper loss
of pounds 1,000 must be offset against the benefit to average household finances resulting from the decision to save the banking system.
The fi rm's chairman Rupert Mucklow described the figure as a "paper loss
" and said the firm still had a good balance sheet but warned that the company would face a tough year ahead as fewer firms invested in new premises.