Sunday, August 19, 2012

No need to worry about Hp’s, may still happen!

Bank of England deputy governor Paul Tucker warned banks they could collapse 'before Christmas'

Bank of England officials were so concerned about the potential for a financial crisis late last year they took the extra­ordinary step of warning the entire banking system could collapse “before Christmas”.

Posted by happy mondays @ 08:04 AM (1374 views)
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2 thoughts on “No need to worry about Hp’s, may still happen!

  • I agree with one of the comments that says the reasons for a complete collapse last year have not gone away. There could be a collapse this year. The Eurozone and UK economies are being run as if they are a big casino. The only losers of this game are the taxpayers.

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  • People forget that the US sub prime collapse did not cause the credit crunch it was merely the trigger in 2008. What caused the credit crunch was banks lending more cash than they had on deposit, making them beholden to the markets who froze them out. This remains the case with most UK and a large part of the EZ Banks lending over at 100% loans to deposits ratios. The trigger in November was the Euro Crisis, that has not been solved and LTD’s are still too high therefore it can happen again and again and again.

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