Monday, May 18, 2009
Do these profits belong to the tax payer?
Telegraph: Bank of England makes £1bn profit thanks to crisis measures
Despite the worst financial crisis in modern history, one City bank has managed to turn the biggest profits in its 300-year history.
Posted by flintster1994 @ 09:37 PM (594 views) Add Comment
4 Comments
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1. Joe Public said...
The Government have gone way too far. What can we do about it? Absolutely nothing.............
2. devo said...
Those who caused our suffering ( if you're not yet, you will) are the ones laughing, quite literally, all the way to the bank.
We are being taken for a ride, people.
3. devo said...
Beijing has been disposing USD exchange reserves since the fourth quarter of 2008, at the rate of USD 50 billion per month(swap agreements included). In addition, they have nearly put a complete end to their purchase of US Treasuries.
Buy the end of summer of 2009, China will have disposed of nearly 600 billion worth of USD denominated assets AND it will have failed to purchase between USD 500 and USD 1,000 billion worth of US Treasuries. These two amounts added together give a clear idea of Beijing's impact on the 'USD'. This represents a shortfall of between USD 1,100 billion and 1,600 billion in United States financial needs...perhaps the US should put the IMF on speed dial.
Dr. Gary L. Glum
on May 18, 2009
at 08:58 PM
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5339435/Asia-will-author-its-own-destruction-if-it-triggers-a-crisis-over-US-bonds.html
4. refusetobuy said...
So now they only need to print £149bn.