Tuesday, October 7, 2008

You are a bloodthirsty lot!

What's the best way to sort out the banking 'crisis'?

Your chosen option (51%) was "Allow them to fail". Which sends a pretty clear message to all the politicians dreaming up ways to use taxpayers' money on enlarging the powers of The Government. If politicians were gracious enough to pass this message on to the banks, the banks would come to an arrangement with their creditors in next to no time; even if that meant the creditors taking ownership of the bank*. This is what is known as a 'Debt-for-equity-swap", which I am happy to say was the second favourite option (and the one that I wold recommend). *Banks ought to be familiar with this general scheme ...

Posted by mark wadsworth @ 07:25 AM (375 views)
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