david mcgee Posted October 3, 2008 Share Posted October 3, 2008 " There were reports from dealing floors this morning that a big British Bank was having difficulty renewing credit lines, which took it too close-for-comfort to the brink." This has been taken from the BBCs, Robert Pestons report on their website. It has however not made it onto BBC news24. Mervyn King, Bank of England Governer has buckled to the Banks and is now lending them money in exchange for risky investments. All we are hearing about is the US bail out, yet Britain has just sanctioned its own bail out with no debate and no vote. Britains own greedy Bankers are now being bailed out by the tax payer and its not worthy of a mention? Link to comment Share on other sites More sharing options...
Boris Posted October 3, 2008 Share Posted October 3, 2008 " There were reports from dealing floors this morning that a big British Bank was having difficulty renewing credit lines, which took it too close-for-comfort to the brink." This has been taken from the BBCs, Robert Pestons report on their website. It has however not made it onto BBC news24. Mervyn King, Bank of England Governer has buckled to the Banks and is now lending them money in exchange for risky investments. All we are hearing about is the US bail out, yet Britain has just sanctioned its own bail out with no debate and no vote. Britains own greedy Bankers are now being bailed out by the tax payer and its not worthy of a mention? Is the Bank of England not an independent organisation? E.g. when Northern Rock was bailed out, it was the Govt that did this NOT the BofE. May be well off the mark though. Link to comment Share on other sites More sharing options...
Gavsy Van Gaverson Posted October 3, 2008 Share Posted October 3, 2008 Is the Bank of England not an independent organisation? E.g. when Northern Rock was bailed out, it was the Govt that did this NOT the BofE. May be well off the mark though. The Bank of England is a state-owned institution and the central bank of the United Kingdom. It still acts as the banker for the UK Government. Link to comment Share on other sites More sharing options...
Boris Posted October 3, 2008 Share Posted October 3, 2008 But didn't Brown "disestablish" it at the very start of the New Labour project i.e. it is the Bank that sets interest rates, not the Chancellor? Having read this article on the BBC site I don't think it sounds as serious as the OP perhaps first thought. http://news.bbc.co.uk/1/hi/business/7650550.stm Link to comment Share on other sites More sharing options...
Rab Posted October 3, 2008 Share Posted October 3, 2008 But didn't Brown "disestablish" it at the very start of the New Labour project i.e. it is the Bank that sets interest rates, not the Chancellor? Having read this article on the BBC site I don't think it sounds as serious as the OP perhaps first thought. http://news.bbc.co.uk/1/hi/business/7650550.stm :rolleyes: Link to comment Share on other sites More sharing options...
david mcgee Posted October 3, 2008 Author Share Posted October 3, 2008 But didn't Brown "disestablish" it at the very start of the New Labour project i.e. it is the Bank that sets interest rates, not the Chancellor? Having read this article on the BBC site I don't think it sounds as serious as the OP perhaps first thought. http://news.bbc.co.uk/1/hi/business/7650550.stm I think it is unbelievably serious, and the fact its been brushed under the carpet astounds me. It also appears everybody in Britain is past caring, well its your money they are playing monopoly with, so i suggest you read into it. The report you quote touches on the deal but better detail can be found on the same website by Robert Peston. Link to comment Share on other sites More sharing options...
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