Article

2008-10-08 Europe

Gordon Brown hails £500 billion bank rescue plan

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Posted by GolfBravoUSMC 2008-10-08 10:31|| || Front Page|| [2 views ] Top

#1 Note that Britain has a population approximately 1/6th ours. Then compare this $500 billion against our $700 billion .....

Of course we're taking other measures in addition to the Paulson intervention. But the size stands out to me ...

Posted by lotp 2008-10-08 10:45|| 2008-10-08 10:45|| Front Page Top

#2 1/5 the population and they are bailing in Pounds. At today's exchange rate their bailout equals $865 Billion.

Based on a ratio of population to bailout amount, we would have to put up $4,330,000,000,000 ($4.33 Trillion).

Posted by GolfBravoUSMC 2008-10-08 11:50|| 2008-10-08 11:50|| Front Page Top

#3 I just saw on Fox that the British Parliment is going to nationalize the major British banks.

Posted by Deacon Blues">Deacon Blues 2008-10-08 11:59|| 2008-10-08 11:59|| Front Page Top

#4 LMAO! And people where crying about the money the US is spending.

Posted by Mike N. 2008-10-08 12:17|| 2008-10-08 12:17|| Front Page Top

#5 Nothing to laugh about here. Also note that during the Great Depression, very very few banks failed in the UK, unlike the USA. Things are quite different in the UK this time around. Keep your seat belts fastened.

Posted by Anguper Hupomosing9418 2008-10-08 12:25|| 2008-10-08 12:25|| Front Page Top

#6 The $700B bailout is only part of the adding liquidity to markets. The US gov has pledged to add $1.5-2.0 trillion in capital.

With all this new money coming in, I am optimistic the worst is over and businesses will be able to function. The open question is how much will individuals and businesses cut back on spending and how deep will the recession be.

Posted by ed 2008-10-08 13:23|| 2008-10-08 13:23|| Front Page Top

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