Sunday, Oct 12, 2008
Banks Get Nationalised Tomorrow
Bloomberg.com: Brown Says Euro Region May Pursue `Comprehensive Plan' on Banks
Prime Minister Gordon Brown said he discussed a ``comprehensive plan'' of measures with European leaders to help stem the financial crisis and the British premier believes they will press ahead with the proposals.
Brown, speaking to reporters in Paris after an emergency summit, said the discussions involved measures to recapitalize banks, add funds to the financial system and guarantee lending.
Was unable to transfer funds electronically from HBOS tomorrow. Next available date 14th October 2008.
Posted by plato @ 06:10 PM (282 views) Add Comment
6 Comments
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1. Renting2 said...
The G/Ments 'official' spokesman speaks - http://www.bbc.co.uk/blogs/thereporters/robertpeston/
"The City of London has never seen anything like it in its long and illustrious history.
A quartet of our biggest banks have been negotiating all day today - and will continue to do so all through the night - with the Treasury, the Bank of England and the Financial Services Authority about how much capital we as taxpayers need to invest in them.
Right now it looks as though first thing tomorrow Royal Bank of Scotland, HBOS, Lloyds TSB and Barclays will announce they're raising up to £40bn in total.
In the case of Royal Bank of Scotland, the sum of capital it's being forced to raise is mindboggling - at least £15bn (and rising).
Which is the kind of disaster that no chief executive can survive - which is why Sir Fred Goodwin's resignation will be announced tomorrow, to be replaced by British Land's Stephen Hester (as I mentioned in yesterday's note)."
2. Renting2 said...
The G/ments 'official' spokesman speaks - http://www.bbc.co.uk/blogs/thereporters/robertpeston/
"The City of London has never seen anything like it in its long and illustrious history. A quartet of our biggest banks have been negotiating all day today - and will continue to do so all through the night - with the Treasury, the Bank of England and the Financial Services Authority about how much capital we as taxpayers need to invest in them. Right now it looks as though first thing tomorrow Royal Bank of Scotland, HBOS, Lloyds TSB and Barclays will announce they're raising up to £40bn in total. In the case of Royal Bank of Scotland, the sum of capital it's being forced to raise is mindboggling - at least £15bn (and rising). Which is the kind of disaster that no chief executive can survive - which is why Sir Fred Goodwin's resignation will be announced tomorrow, to be replaced by British Land's Stephen Hester (as I mentioned in yesterday's note)."
3. malct said...
forgot to mention that google
are aware that many people email or post when they are pissed and regret it later
so they have come up with and addon which is a sort of self test
,,,,,,,,,,,
may be of some help to our younger element - me, I wouldn't see it floating by.
4. p. doff said...
Breaking News - Japan Credit Crunch
Following the huge financial problems rocking the very foundations of the U.S. economy and the run on Northern Rock and Bradford & Bingley in the UK, and the spectacular failures of Fortis and Hypo in Europe, uncertainty has now hit Japan hard. In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches.
Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived.
While Samurai Bank is soldiering on following sharp cutbacks, Ninja Bank is reported to have taken a hit, but they remain in the black.
Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal...
5. renting2 said...
You owe me a new keyboard p. doff!! I was just taking a slug of a rather nice claret when I read that last post, qwerty no longer working properly as its full of high class redders. Had to dig a substitute out of the garage. lol.
6. icarus said...
renting2 - where'd you get the claret, an Oxbridge college cellar? The high street stuff is all sugar and flavour-injected.