Wednesday, Nov 25, 2009

More clips & update of key story

BBC: HBOS and RBS secret bank rescue loans

What a time to break the story...just when Jordan comes back from the jungle for Pete!

Posted by alan @ 05:11 AM (1447 views)
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9 Comments

1. devo said...

Has the £62 billion pound loan been paid back?

Wednesday, November 25, 2009 06:41AM Report Comment
 

2. paul said...

How much more public money is being secretly expropriated under our noses for reasons of 'financial stability'?

Britain's corruption index is steadily climbing.

Wednesday, November 25, 2009 06:54AM Report Comment
 

3. devo said...

The Bank of England only felt it was safe to reveal this covert support now, once the ink was dry on longer-term bailout deals agreed with the banks a couple of weeks ago.

Hugh Pym, chief economics correspondent

Wednesday, November 25, 2009 07:06AM Report Comment
 

4. Crunchy said...

2. paul said...Britain's corruption index is steadily climbing.

Climbing or becoming more obvious?

Wednesday, November 25, 2009 08:40AM Report Comment
 

5. a saver said...

Just makes it all the more obvious that HBOS should have been allowed to go under, but we couldn't have that with an election coming could we?

Wednesday, November 25, 2009 08:47AM Report Comment
 

6. alan said...

If we accept that secrecy was necessary to prevent a run on all banks, how come they couldn't tell us when the money was paid back - say 6 months back? Was it because the expenses story was running amok and another instance of ignoring the electorate would have gone too far?

It also looks as if HBOS was recommended to LLoyds by Darling while knowing that HBOS was close to sinking.

I could go on asking questions - there are loads to be asked.

Wednesday, November 25, 2009 09:22AM Report Comment
 

7. jack c said...

@alan - from yesterdays BBC article - "The Bank of England has revealed for the first time that it lent Royal Bank of Scotland (RBS) and HBOS £61.6bn in emergency funding last autumn.Bank governor Mervyn King told a committee of MPs it "was to prevent a loss of confidence spreading through the financial system as a whole". The money was repaid in full by January this year, he added"

A major question over why they did not do the same for N Rock

Wednesday, November 25, 2009 09:32AM Report Comment
 

8. letthemfall said...

UK public spending is pushing £700bn. Compare this against the money used to support the banks. How much of this will eventually be a permanent part of the national debt - ie. what taxpayers have to meet?

Wednesday, November 25, 2009 10:19AM Report Comment
 

9. mr g said...

"What a time to break the story...just when Jordan comes back from the jungle for Pete!"

Sums up the priorities of a large percentage of the population of the UK.

Wednesday, November 25, 2009 07:02PM Report Comment
 

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