Reply to: If banks are too important to go bust.....

[HairyArsedBloke]

If the UK govt end up having to bail out HBOS then I think it's time for a run on sterling and 15% interest rates again

Maybe they'd be better letting them all go bust after all.

people

'time for a run on sterling' - underway now: down 2% this morning.

'Maybe they'd be better letting them all go bust after all' - YES

[Cyberman]

If the UK govt end up having to bail out HBOS then I think it's time for a run on sterling and 15% interest rates again

Maybe they'd be better letting them all go bust after all.

They won't let them go bust. They will be nationalised as per the Masterplan. I just heard this morning that losses on B&B are underwritten by the other private banks and they are getting a multi-billion payment from Bank of Santander for the assets that they want. Thus HMG are making a profit on this nationalisation, just as they are attempting to do with Northern Rock.

Me, a cynic ??!!

[rootsnall]

They are not.

However, some of them are so large that for them to go bust it would cause too much damage.

If the UK govt end up having to bail out HBOS then I think it's time for a run on sterling and 15% interest rates again

Maybe they'd be better letting them all go bust after all.

[HairyArsedBloke]

If banks are too important to go bust.....

They are not.

However, some of them are so large that for them to go bust it would cause too much damage.

[Cyberman]

The banks are being nationalised. They belong to us! We are paying!

It's obviously government policy to build a portfolio of property via repossessions. Labour policy implementation at the stroke of a pen, and the public are being suckered.

[ace00]

Where does all the money to buy up the failing banks come from? does the BoE just ratchet up the printing presses over the weekend?

If so, is that not inflationary?

Yes & Yes.

[Churchill]

Where does all the money to buy up the failing banks come from? does the BoE just ratchet up the printing presses over the weekend?

If so, is that not inflationary?

The banks are being nationalised. They belong to us! We are paying!

[Troll]

Where does all the money to buy up the failing banks come from? does the BoE just ratchet up the printing presses over the weekend?

If so, is that not inflationary?

[DimPrawn]

I see a whole new market emerging... I could supply dossers to the soup kitchens.

Someones got to make the soup. More swan roasting Albanians needed.

[Another Dodgy Agent]

Soup kitchens and doss houses !?

I see a whole new market emerging... I could supply dossers to the soup kitchens.

[rootsnall]

Is that what a depression is?

If a recession is two consecutive periods of negative growth - what is a depression?

Soup kitchens and doss houses !?

[BrilloPad]

I think the Yanks have avoided 3 recessions by pumping in cheap money, just means we are now going to have a triple whammy recession to pay for it all.

Is that what a depression is?

If a recession is two consecutive periods of negative growth - what is a depression?

[rootsnall]

Well the police are not even allowed to even go on strike!

I reckon they should either be nationalized (and run inefficiently) or allowed to operate in a proper free market. i.e. LTCM should have gone to wall in 1998 and no dropping of interest rates at first sign of a wobble.

This US bailout - suppose it was to happen in Eurloand? Imaging trying to get all those governments together!

I think the Yanks have avoided 3 recessions by pumping in cheap money, just means we are now going to have a triple whammy recession to pay for it all.

[BrilloPad]

Because it's all a big swindle?

Well the police are not even allowed to even go on strike!

I reckon they should either be nationalized (and run inefficiently) or allowed to operate in a proper free market. i.e. LTCM should have gone to wall in 1998 and no dropping of interest rates at first sign of a wobble.

This US bailout - suppose it was to happen in Eurloand? Imaging trying to get all those governments together!

[TimberWolf]

.... then why are they allowed to be run privately?

Because it's all a big swindle?