Wednesday, Nov 25, 2009
More clips & update of key story
BBC: HBOS and RBS secret bank rescue loans
What a time to break the story...just when Jordan comes back from the jungle for Pete!
Posted by alan @ 05:11 AM (1091 views) Add Comment
9 Comments
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1. devo said...
Has the £62 billion pound loan been paid back?
2. paul said...
How much more public money is being secretly expropriated under our noses for reasons of 'financial stability'?
Britain's corruption index is steadily climbing.
3. devo said...
The Bank of England only felt it was safe to reveal this covert support now, once the ink was dry on longer-term bailout deals agreed with the banks a couple of weeks ago.
Hugh Pym, chief economics correspondent
4. Crunchy said...
2. paul said...Britain's corruption index is steadily climbing.
Climbing or becoming more obvious?
5. a saver said...
Just makes it all the more obvious that HBOS should have been allowed to go under, but we couldn't have that with an election coming could we?
6. alan said...
If we accept that secrecy was necessary to prevent a run on all banks, how come they couldn't tell us when the money was paid back - say 6 months back? Was it because the expenses story was running amok and another instance of ignoring the electorate would have gone too far?
It also looks as if HBOS was recommended to LLoyds by Darling while knowing that HBOS was close to sinking.
I could go on asking questions - there are loads to be asked.
7. jack c said...
@alan - from yesterdays BBC article - "The Bank of England has revealed for the first time that it lent Royal Bank of Scotland (RBS) and HBOS £61.6bn in emergency funding last autumn.Bank governor Mervyn King told a committee of MPs it "was to prevent a loss of confidence spreading through the financial system as a whole". The money was repaid in full by January this year, he added"
A major question over why they did not do the same for N Rock
8. letthemfall said...
UK public spending is pushing £700bn. Compare this against the money used to support the banks. How much of this will eventually be a permanent part of the national debt - ie. what taxpayers have to meet?
9. mr g said...
"What a time to break the story...just when Jordan comes back from the jungle for Pete!"
Sums up the priorities of a large percentage of the population of the UK.