The UK Government today announced that it would make £50bn available to take stakes in UK banks. It also committed a further £350 in support of liquidity and lending in the money markets to free up the “plumbing of the banking system”.
Total cost £400bn.
I am very supportive of a wholesale nationalisation of the banking system however only as a last resort and for all banks.
By “a last resort” this means only when Read the rest of this entry »