Tuesday, Dec 01, 2009

Uh oh.

Spectator: Labour's free for all

There was some concern about UK banks exposure to Dubai, which fortunately seems like sauce on a side dish. The money lent is "$1.2 trillion in the United States, $125 billion in Spain, $183 billion in Ireland, $50 billion to the UAE/Dubai.", all of which have spectacular losses on property speculation. Before we forget, irrespective of how many empty offices Dubai has, Spain managed to build a million properties (yes really, half mill in 2004 alone), more than all of the rest of Europe put together. RBS managed to lend out 2.5 trillion off the back of their Edinburgh offices like a hugely successful Del boy. If we aren't busted, then what exactly do you need to do to manage it, it must be impossible.

Posted by stillthinking @ 10:46 PM (3214 views)
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1. mken said...

"It is unsurprising that some in the City do not welcome the potential arrival of George Osborne and a Conservative government with the ability to distinguish between a free market and a free ride."

I had to read this twice, but really, it says ability not inability ...

Tuesday, December 1, 2009 11:20PM Report Comment

2. hpwatcher said...

From the comments:-
Gordon Brown is the architect of the UK's disastrous economic malaise. Brown designed it, engineered it and ensured that it was built to the colossal height that it was; he's also the demolition contractor who has brought the grotesque structure down upon the heads of us poor bloody serfs - who will paying for it for decades to come.

When will the British people realise that the man is a first order traitor who should be put up against a wall at the Tower, and shot ... ideally, by HM The Queen who must have been fuming at this carry on for years on end.

Gordon Brown will go down in history as the man who broke the UK.

Wednesday, December 2, 2009 06:12AM Report Comment

3. Alfie said...

Gordon Brown will retire in Scotland and probably hope that Scotland get their independance so he can sip cocktails with his mate, the Ex RBS boss who is on three quarters of a million pounds pension, and watch the rest of Britain suffer, while we pay off his ego trip.

Wake up Britain, the man hasnt got a clue, he needs to go,.... yesterday.

Wednesday, December 2, 2009 08:51AM Report Comment

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