Sunday, Apr 20, 2008
Why U.K. Banks Need $200 Billion Aid From Bank of England
SOTT.net comments on Bloomberg article: Buiter Says U.K. Banks Need $200 Billion Aid From Bank of England
Former Bank of England policy maker Willem Buiter said the central bank will need to offer loan swaps to financial institutions of at least 100 billion pounds ($200 billion) to kick-start the U.K. mortgage market.-bloomberg. SOTT comments:The UK is about to copy the US and have taxpayers bail out the banks. It's being dressed up as a means of helping the borrowers but the reality is it's a desperate move to keep the banking system propped up.
Posted by cybervigilantes @ 03:59 PM (203 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.