Is CyberTory really called Robin Bruce?
http://www.bbc.co.uk/blogs/thereporters/robertpeston/2007/11/rocks_wholesale_run.html
http://www.bbc.co.uk/blogs/thereporters/robertpeston/2007/11/rocks_wholesale_run.html
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Originally posted by Cyberman View PostBagpuss, you show your ignorance of the duty of the BofE as Lender of the Last Resort. If you ran the Treasury, all banks would now be bust.
Purpose
The lender of last resort serves to protect depositors, prevent widespread panic withdrawal, and otherwise avoid damage to the economy caused by the collapse of an institution. Borrowing from the lender of last resort by commercial banks is usually not done except in times of crisis. This is because borrowing from the lender of last resort indicates that the institution in question has taken on too much risk, or that the institution is experiencing financial difficulties (since it is often only possible when the borrower is near collapse).The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Of course they were in crisis due to bad lending practices and business model!Originally posted by Cyberman View Post... and of course we were not in a CRISIS were we ?The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Guess who had all his savings in Icesave...Originally posted by Cyberman View Post... and of course we were not in a CRISIS were we ?Comment
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*dargs thread back on subject*
Well I said it once before on here without getting a stoning - I only get to read Peston on the BBC website as i can't pick up the beeb on my telly over here.
I enjoy reading his column. He rocks...Comment
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