Tuesday, Feb 24, 2009
Taxpayers may become liable for £500 billion worth of bad loans and investments made by RBS and Lloy
ITN via Yahoo: Taxpayers may become liable for £500 billion worth of bad loans and investments made by RBS and Lloyds Banking Group.
Chancellor Alistair Darling is set to wipe away bad assets in the banks to free up cash and encourage them to start lending again.
This means £500 billion worth of bad loans and investments made by the banks will disappear - the burden of which lays firmly in taxpayers' pockets.
Posted by troy @ 03:22 PM (531 views) Add Comment
6 Comments
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1. greytornado said...
The figures are becoming so large that they are meaningless. Any rational person could be forgiven for thinking that this whole edifice of illusion will collapse before much more time has elapsed............................
2. mrmickey said...
I agree, you then see something on tv about this or that being wasted and it costing the tax payer x million and you think to yourself peanuts!
3. inbreda said...
soon it will be £400 for a loaf of bread.
4. 51ck-6-51x said...
Insuring and write downs are different. This is about proposed insurance, yet they use the phrase "£500 billion worth of bad loans and investments made by the banks will disappear" - poor reporting.
Not that I agree with their approach by the way.
5. troy said...
greytornado ~~~ interesting concept - edifice of illusion
nice to see wikipoole hasn't caught up with this one yet
edifice : 'any large, complex system or organization' 'An elaborate conceptual structure'
illusion : Simply described, illusion is the inability to see clearly thus creating a false or deceptive belief. It is a condition we all suffer from in various degrees and is essentially a blockage of the flow of energy connecting soul to man.
edifice of illusion : The edifice of illusion created by our emotions, fears, desires, etc., over thousands of years begins to be removed and we commence to see clearly.
This illusion exceeds all others and remains the most significant for each of us to overcome.
6. troy said...
1. greytornado said...The figures are becoming so large that they are meaningless
~~~~~
that's odd.