Monday, Apr 21, 2008
at least 100 billion for it to really actually make a difference to the solvency position of banks,
Bloomberg: Buiter Says U.K. Banks Need $200 Billion Aid From Bank of England
``The mortgage market has to shrink,'' Buiter said. ``We've had an unsustainable housing boom. If we get 50 billion pounds of net mortgage lending this year, that would be ample to sustain mortgage financing at a reasonable level.''
more here: http://www.sott.net/articles/show/154071-Buiter-Says-U-K-Banks-Need-200-Billion-Aid-From-Bank-of-England
Posted by malct @ 12:01 PM (358 views) Add Comment
3 Comments
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1. taffee said...
staggering how government are playing this....next they will be giving us mortgages interest free.
Japan tried this and the economy collapsed...
High house prices are a disaster for the next generation thats why they will collapse anyway
2. Rental John said...
What is a billion?
http://www.askoxford.com/asktheexperts/faq/aboutwords/billion?view=uk
says USA billion is 1,000 million and UK is 1,000,000 million.....either way its a wedge of cash!!!!
Donald Rumsfeld is giving the president his daily briefing. He concludes by saying: "Yesterday, 3 Brazilian soldiers were killed."
"Jesus!" the President exclaims. "That's terrible!"
His staff sits stunned at this display of emotion, nervously watching as the President sits, head in hands.
Finally, the President looks up and asks, "How many is a brazillion?"
3. Planning4acrash said...
I'm sorry, but are we in affect saying that UK Plc. is bankrupt?