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@NickCJ
I don't understand the first part of this. The restriction to £750 was designed so that individuals could get a subscription, rather than the whole issue being taken up by large orders from pension funds / asset managers who like defensive stocks.
On the second point, it is almost impossible to guess exactly what the market will settle upon as a fair price beforehand. Lazard (gov't's financial adviser) was under instruction to get the whole issue sold - no-one likes a hung rights issue (e.g. Manpower / County Natwest / Blue Arrow) - at the best price. They stuffed it up, but then could you predict what Royal Mail shares were worth before they were ever traded publicly?
It is extremely tiresome when people criticise an industry from the outside with no specific understanding of the processes involved.
There are problems with the financial services sector, but I'm afraid that your scattergun 'i hate bankers' approach isn't identifying them particularly successfully.