"The Sunday Times says a £35bn rescue package is about to be requested by the Royal Bank of Scotland (£15bn), HBOS (£10bn), Lloyds TSB (£7bn) and Barclays (£3bn)."
http://news.bbc.co.uk/2/hi/uk_news/politics/7665645.stm
http://business.timesonline.co.uk/to...cle4926316.ece
So UK goverment will buy up 2 to 4 of the largest British banks tommorrow.
The world financial system is teetering on the "brink of systemic meltdown", the head of the International Monetary Fund (IMF) has warned in Washington.
Dominique Strauss-Kahn said rich nations had so far failed to restore confidence, but he endorsed a new action plan by the G7 group.
He also said the IMF was ready to lend to countries in dire need of capital.
http://news.bbc.co.uk/2/hi/business/7665515.stm
Will these NEW bank owners allow porn in the future ? Give merchant accounts ?
What rates will these new massive government banks use to consumers?
Big Brother Bank .com still available ? I can already see the headlines; "We are a one stop shop for all your credit, your house, your car, your insurance, your pension..and it's safe ! We are the world goverments bank. You can trust us!"
Where do all these governments get so much money from to buy all banks? Are they loaning it, from who..?
And North Korea is a new best friend ? Taken of the bad countries list just like that.
Irak financial index goes up 40%....
Warren Buffet made 8 Billion this month
We live in a funny world all of a sudden.
Normally I keep this shit to myself, hoping I am wrong but I just see & read the most unbelievable things lately and I find it scary to see control & rules going lost.