Sunday, January 18, 2009
80% of taxpayer-funded bailout to cover losses on overseas debt!
Futures generations of UK taxpayers will have to foot a huge bill from lending to overseas Ponzi schemes. "Whitehall sources said that they had discovered that some major UK lenders - including RBS, HSBC and Barclays - have had only 20 per cent of their balance sheets made up of "traditional" loans to UK households and firms. Meanwhile, up to 80 per cent is tied up in loans to foreign nationals and companies, bond issues and other investments"