Friday, July 11, 2008

After years of obscene profits, the *ankers have the begging bowl out again

Bankers want more help from Bank of England

Senior figures from the UK's biggest banks will today lobby the Bank of England to widen the terms of the special funding scheme launched in April to bring liquidity back to the financial sector. The bankers will argue that the Special Liquidity Scheme (SLS) has not done enough to restore confidence among banks, leading to them to remain cautious about lending money to each other and to customers. As a result, Libor - the main lending rate between banks - has remained high, as have mortgage rates charged to home buyers.

Posted by uncle chris @ 09:40 PM (975 views)
Please complete the required fields.



3 thoughts on “After years of obscene profits, the *ankers have the begging bowl out again

  • The begging bowl is all that’s left. Everybody knows how badly they need equity to repair their balance sheets and nobody’s keen to shovel money down a hole the size of which is unknown, except that it’s a f*ing big one. Let’s see – $300 bn raised, maybe another $800 bn to go for the west’s financial sector. And European banks are exposed to their own markets as well being as exposed to the American market as American ones.

    Reply
    Please complete the required fields.



  • The worst thing that the BoE or indeed anyone can do in response to this is to listen to them.

    Reply
    Please complete the required fields.



  • I see the Special Liquidity Scheme has alarmingly exploded from £50bn to £70bn (or maybe even £100bn!).

    To put that kind of money into perspective, it would build more than 140 Millenium Domes, and is nearly an extra tax burden of £1,700 for every man, woman and child in the UK.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>