Darling announces £50 billion rescue plan
- Thread starter antijoke
- Start date
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I think it is the best option available, also there will now be major restriction on bonuses.
Well, the markets certainly aren't impressed.
FTSE 100 is down by over 6.5% already.
RBS down almost 20%
Barclays down over 15%
Lloyds TSB down over 8%
The only one up is HBOS, presumably as this will make the takeover by Lloyds TSB more likely to go through.
FTSE 100 is down by over 6.5% already.
RBS down almost 20%
Barclays down over 15%
Lloyds TSB down over 8%
The only one up is HBOS, presumably as this will make the takeover by Lloyds TSB more likely to go through.
This is copy cat from the US. The US plan also will not save the banks from all accounts I've read.
What was interesting was that Independent article with the 97 year old financial adviser that saw the US stock market crash in the 20s and the depression that followed.
What was interesting was that Independent article with the 97 year old financial adviser that saw the US stock market crash in the 20s and the depression that followed.
It might not save the banks, but it's about the only thing that can be done. If the banks don't get money, they will never lend to each other and the crisis will worsen. It will get worse anyway, but without a bailout it would be far worse.
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I'm just thrilled at having absolutely no choice in the matter of whether or not my tax goes towards bailing out this bunch of greedy *****.
If they can't run a business properly, let them deal with the consequences - not your average joe on the street.
If they can't run a business properly, let them deal with the consequences - not your average joe on the street.
But can't you see that if this isn't done then it will affect average Joe.
The consequences will be banks collapsing and the economy going into meltdown.
My issue is I hope the people responsible don't get massive payouts for being pushed out of their position like most of them seem to do. But i still believe in the saying the rich get richer and the poor get poorer.Sorry to be a downer but if I get on my soap box I'll be here all day.
I can see both sides - I'm just annoyed that I have to bail out the management of the banks because it's got so bad that it is the only definition.
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Its not a copy cat of the US bailout, the US should have infact done what we have done, the US markets were calling for what we have done but they did not get it, thats why their market continued to free fall.
If we let them deal with the consequences, then it'll affect you.
This is a good solution. Taxpayers will effectively get what will become a profitable investment. Banks will survive, so there will be a reduction of the knock-on effect on consumers and businesses of having a non-existent banking system.
Slightly different to USA's bailout plan though, as I think Darling is considering buying stakes in banks, whilst in USA the $700bn fund is to buy toxic assets to clear the system.
Slightly different to USA's bailout plan though, as I think Darling is considering buying stakes in banks, whilst in USA the $700bn fund is to buy toxic assets to clear the system.
Could someone tell me what exactly triggered all this mess to happen, from what I can tell banks have been doing this for a long time and all of a sudden this **** hits the fan
They're reluctant to lend to each other. I think that's how it all started anyway.
G-MAN why do you know this. You not got nothin better to do
I'm at college right now studying economics.