U.K. Rescue Plan Going the Right Way

This is going the right way, it addresses directly the tier1 capital problem, better than TARP and will dilute stockholders.

Britain’s largest banks are to be part-nationalised after Gordon Brown took the momentous decision to pump tens of billions of pounds of public money into the sector to avert a banking collapse.

5 times the amount expected, would be north of $2 trillion U.S. economy size equivalent:.

The government is to put up to £250bn into the banking system in an effort to keep banks lending.

More details:
Darling unveils bank rescue
Rescue plan for UK banks unveiled

Comments

[venividivici:]

I dare say they will all be going down to the most expensive club in London to have a wild celebration costing, God knows, I suppose millions of pounds. I mean these suckers are going to keep supporting us forever. Until there is some form of punishment, these absurdly incompetent miscreats will just keep on doing exactly what they are doing now and who would blame them. I GIVE UP!!!!!

2008 Oct 08 09:48 AM

[venividivici:]

I should add that it was reported that some merchant banker guy in London spend 20 thousand pounds on afternoon drinks in one London club. Little wonder that this Sodom and Gomorrah market is heading down the toilet where it belongs.

2008 Oct 08 11:04 AM