The American banking bailout....
27 December 2008, 10:30 AM
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The American banking bailout....
The one we heard so much about over summer, $700 Billion?
At the time, there was big talk that some UK banks would get large sums, as they were heavily into the American sub-prime markets. Did they? I can't find evidence of one cent being given to UK banks.
Does anyone know if tyhey got any, and if not, why not?
At the time, there was big talk that some UK banks would get large sums, as they were heavily into the American sub-prime markets. Did they? I can't find evidence of one cent being given to UK banks.
Does anyone know if tyhey got any, and if not, why not?
27 December 2008, 12:05 PM
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The UK banks got billions from the UK government! Hence it now owning Northern Rock, Bradford & Bingley, most of RBS, and 40% of Halifax/Llloyds - at a cost to the taxpayer of something like 16k for every man, woman and child in the UK 
27 December 2008, 04:30 PM
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27 December 2008, 06:58 PM
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I think I'm right in saying that Congress turned down GM's request for cash to keep them going. That left the treasury with a problem so they looked towards the company that arranged and organised GM's loans and finances and decided to call them a "bank", thus making them eligible for the Congress agreed multi-million bail out package!! dl
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