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Realistbear

" U. K. Banks Are Less Than Half Way Through"

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http://www.bloomberg.com/apps/news?pid=206...id=ai1lUy.ywZc0

U.K. Banks to Post $215 Billion Losses, Moody’s Says (Update2)

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By Jon "Jonathan" Menon

Sept. 14 (Bloomberg) -- U.K. banks are less than half way through posting 240 billion pounds ($398 billion) of losses on loans and securities, a reflection of the country’s economic weakness, according to Moody’s Investors Service Ltd.

British banks are likely to record losses of at least 130 billion pounds, in addition to 110 billion pounds lost since the beginning of the credit crisis in 2007, Moody’s said in a report today.

The company “expects the sustained weakness of the U.K. macroeconomic environment to feed through into higher loan arrears with ensuing pressure on profitability and capital,†it said.

British taxpayers have provided about 1.4 trillion pounds of support to banks,

Recovery? Such crass bovine excreta. Nulabour need to admit that things are not anywhere near recovery and that there are years of austerity and falling houses prices ahead. Years and years of it.

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.....the company’s “base case scenario†anticipates a 40 percent peak-to-trough decline in British house prices.../

VI optimism springs eternal. 40% is just for starters.

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So says Moodys Investors Services. Were they not the people that said here is a package of NINJA loans and it is is the best AAA rated investment in the world, buy truckloads you can not go wrong.

Oh yeah they really know what they are talking about.

edit: buys to buy

Edited by ralphmalph

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If you factored in QE and the magic that is fractional reserve banking isn't £1.4tr a slightly undervaluing the money pumped into the system. Unless of course QE has merely been a £1 for £1 swap on bad debt.

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wait a mo....surely not reporting losses is the same as HIDING losses?

where are the CID?

why can we not hear the jangle of handcuffs?

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See, Darling should have let Barclays buy Lehmans after all :blink:

Ha, ha! Barclays only wanted LB with Fed or HMG guarantees. They were trying to swallow a bank "too big to fail" so then they'd be too big to fail. (When no guarantees were forthcoming they had to sell out to the arabs

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