U.K. Banks Get Unprecedented Government Bailout

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http://www.bloomberg.com/apps/news?p...hk0&refer=home

more details at
http://newsvote.bbc.co.uk/2/hi/business/7658277.stm

This addresses a multitude of short, medium and long term
UK banking and economic issues. Seems an eminently sensible
way forward in my view for the UK, its economy and its citizens.

There were some heavy hints on TV that the US is regarded as
the prime culprit for the crisis. These new UK measures and policies
go a considerable way to discourage and prevent any future toxic
free market and related unregulated practices from threatening the
UK economy. At least some other EU countries are in discussions
about adopting the same or similar policies.

Especially in an election year, the ingrained US antipathy towards
anything which threatens to restrict or regulate their free market
dogma plus a knee-jerk opposition to the slightest whiff of socialism
or even part-nationalisation of banks and similar corporations, may
well prohibit the US from really considering or adopting similar solutions.
That could well be a serious mistake for the future of the US economy.

Its the "Hare and the Tortoise" situation essentially. Do you want to
grow slowly in a secure regulated economy .... or do you want to
make a fast buck in a wild west environment and risk everything?

Lots more stuff going on in the next week with EU, G8, G20 and
the US. Stay tuned
  • Profile picture of the author derekwong28
    The US, UK and European central banks have just cut rates by 0.5%
    The Feds are going to lend money directly to companies, bypassing banks
    Iceland just pegged its collapsing currency and is seeking a 4B loan from Russia
    Asian stockmarkets were in free fall today
    Australia cut its rate earlier by 1%
    Russia suspends its stock market for the nth time again

    The whole financial crisis is unraveling so quickly as if a large meteor has just struck earth.

    -Derek
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    Do not get between a wombat and a chocolate biscuit; you will regret it dearly!

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