Sunday, October 5, 2008
Financial – Hair of the dog
Brown: Banks will beat crunch
Gordon Brown last night pledged that no major bank across Europe would be allowed to go out of business because of the international financial crisis.
Posted by matt_the_hat @ 09:42 AM (586 views)
3 thoughts on “Financial – Hair of the dog”
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alan says:
If trading is falling, business is looking tricky or a bad business plan is submitted, the banks won’t lend money.
Now there is a new lender for weak schemes – yes, it’s Gordon Brown. Determined to be a saviour of middle England. No point worrying about getting the cash back – Gordon won’t be around then!
I wonder if failing Buy to Let property schemes are included? Lots of MPs have “small businesses” like this.
renting2 says:
But ordinary people can if it suits, and they will through no fault of their own!
str 2007 says:
‘I want the message to go out of this meeting today that no sound, solvent bank should be allowed to fail for lack of liquidity’.
Aren’t all banks effectively insolvent but for the ‘behind closed doors’ lending from the bank of England.
The article goes on to say GB wants all the money released straight away – he would wouldn’t he.
How this man doesn’t get linched when he turns up in Europe cap in hand is beyond me.
I don’t know how he can look the others in the eye. I accept I’m not fully aware of foreign lending practices, but GB has sat and bragged to them all about his miracle economy for the last 10 years while they (most) have all been careful with their economies to the point of facing short periods of recession during the last 10 years.
I’ve said before though that GB is in a position to and will push through anything to save his skin at our expense – and he will.
Dangerous times.