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Byron

Who Owes What

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As title,

Presumably Northern Rock owes shed loads,

Trustyhaliscotbosh?

Santander?

Barclays?

Any other Banks?

The reason I am asking is that an acquaintance thought that the Banks were 'OK now' and everything was set for recovery. Others seem to have the same view. When I countered that the Banks were in a poor state, I found that I could not prove it as I didn't have any figures.

The recent blip in house prices, together with the announcement that 'we are out of recession' appears to have caused normal, intelligent people to take it at face value and expect that all will be back to normal next year (ie HPI). Some of them I suspect have got debts which are troubling them and the only way out is HPI followed by MEW, so they only look for what they think is'good news'

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There should be figures for direct investment (NR, RBS, LTSBHOS), but that won't tell you the whole story.

The liquidity schemes were secret. The totals in hundreds of billions.

Going forward there's now an implied state backing of banks which could be trillions.

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