Saturday, Jan 26, 2008
Banks should be allowed to fail say select commitee!
Yahoo/sky: Northern Rock Plans Criticised By Treasury Committee
Nothern Rock on the agenda in front of the select commitee today. They are calling for a "A special resolution regime for failing banks - to ensure they can be either rescued or allowed to fail in an orderly fashion"
Why should the UK taxpayer subsidise a PLC? Banks go bust on a regular basis in the US!
Posted by doomberger @ 08:36 AM (226 views) Add Comment
2 Comments
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1. justwatching said...
Yes, it should heve been allowed to go bust. 'failed business model', Bruwn's own words.
2. drewster said...
What about the ordinary people who have money in the failed bank - should they be rescued by a government backed insurer (as happens in the states)? How is that different to the current BoE bail-out, the taxpayer is liable either way!