Thursday, Sep 18, 2008
Bye bye FSA compensation sceme
The Times: If this fails, it will take down all Britain's banks
Sadly, the events of the past two weeks may be only the prelude, not the climax, of this amazing crisis. Even the apparent rescue of Halifax Bank of Scotland may result in a bigger crisis, if the drowning HBOS drags down its rescuer, Lloyds TSB. If this happens, every big bank in Britain, except possibly HSBC, will have to be nationalised, Northern Rock-style.
This may happen next year when the HPC will really start to happen?
Posted by cheekie charlie @ 09:06 PM (384 views) Add Comment
3 Comments
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1. it_is_going_with_a_bang said...
"Two weeks ago nobody would have imagined that, before the end of the month, the Bush Administration would have ..."
Yeh, I think you can stop righ there. Nobody would have imagined? Hardly the case is it?
2. paul said...
Kaletsky is always playing the "we're all so shocked and surprised" card, when no-one is either, apart from him.
3. last_days_of_disco said...
I have been betting on HSBC to win this for a long time. They are going to wade in and clean up once this is over
and rightly so. They really are the best bank out there. They actually try to be a good bank. Kudos to them.