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Re: ...........Mean while over in England
Originally posted by Mega View PostLOL. A sop for the taxpayers.Alistair Darling is to offer guarantees worth £600 billion against toxic assets to give two of Britain’s biggest but ailing banks a final chance to survive the credit crunch...
...In return the two banks — in which the taxpayer has already taken a £37 billion stake — will provide extra loans to homebuyers and business worth a combined £40 billion...
...Sources suggested last night that the commitments for new lending to be made by the banks in return for the guarantees would be legally binding...
So what's the remedy in the event of breach? They take away the guarantees? Not bloody likely.
The FIRE economy interests have the upper hand. And they know it. The "legally binding" obligation is unenforcable.
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Re: ...........Mean while over in England
Greg, I see that the bunker's garage is progressing well...
Is that for all the food supplies? Or perhaps for the in-laws?Comment
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Re: ...........Mean while over in England
Join Date: May 2007Originally posted by LargoWinch View Post
Location: Bunker Ag Centre: dairy below; poultry above...
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Re: ...........Mean while over in England
does anyone else see the irony here...banks must promise to start lending again to create more toxic debt to require more taxpayer bailout to require more lending.....round and round we go.Taxpayer to guarantee £600 billion of toxic debt in effort to save ailing banks
Banks must promise to start lending again
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Re: ...........Mean while over in England
Originally posted by pescamaaan View Post
I don't think it's irony. That's all they know how to do. They are like rats on a sinking ship. It would be good if a big name asked the same question you did.Comment
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Re: ...........Mean while over in England
Taxpayers forking up the final bricks into the ponzi scheme. This helps a few more criminals pop off the top of the pyramid.
Same as Paulson and Bernake in the USA.Comment
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