Sunday, September 16, 2007

Sunday lunch for bears

Fears grow for British economy as panic over Northern Rock spreads

Experts warn that a decade-long borrowing binge has left Britain dangerously exposed to the fallout from the global liquidity crisis US Treasury Secretary Hank Paulson flies in to London tomorrow to discuss the worsening global credit crisis with Chancellor Alistair Darling, as fears intensify that the lending squeeze could be the last straw for Britain's buy-now-pay-later economy.

Posted by bufferbear @ 01:26 AM (572 views)
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One thought on “Sunday lunch for bears

  • One of the most interesting parts of this article is the throwaway comment that Alastair Darling (memorably described by a friend of mine who used to be his constituent as “a smug, dull, c***”) “helped broker the emergency loan from the Bank Of England”

    Isn’t the Treasury supposed to refrain from pressuring the independent BoE?

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