Wednesday, October 08, 2008

Loans to Banks

you are getting better. A very speedy new log, timely too.

As we are seeing with the falls in the stock market the banks now do not constitute as much of the index as they used to, there values have been eroded.

A governmnet supported recapitalisation scheme, now if they were to seek this money through the real market then they would offer shares which would have voting rights. Why no votes, why an arms length involvement. Why this preference idea, yes we will get dividends but without any control.

I demand no taxpayers money without representation, an age old call but a serious and real one.

Bold and far reaching solutions, that was what was needed. This is neither bold but it sure is far reaching. It breaks new ground but it will not restore confidence. Jobs and prosperity, nonsense.

A comprehensive restructuring of the banking industry. This is not conventional thinking:

the flows of money between banks, the special liquidity scheme, cough, cough:

suppport the banks through preference shares, only £25 billion, plus £25 billion

plus guarantees, investments, what on earth is this man on.

Families and businesses to help the economy move forward. Ah, revenge for the Cod Wars, we are taking action against Iceland, insist on credit lines, executive remuneration blah, blah blah.

We can look forward to a fairer and more equitable etc...active consultation European wide funding plan.

A gathering, we are being tested, let's have a summit, the right conditions, oh please note the statement was given by Gordon Brown, not the chancellor, Gordon is the Prime Minister not the chancellor, whose plan is this.

Easier for longer time lending rather than overnight. Part of a process,

Where is this money coming from, good point. Borrowing, buying shares, preference shares, not ordinary shares, stability of the banking system, a sound banking system. We expect a return on our investment.

If we didn't do anything... would the world come to an end

Another good question, why not ten years ago, we are putting money into the system, it is not only governments.

Nick, this is appalling, I want a guarantee to my savings. Your questions are getting more incisive, well done. Keep learning, where is Robert Peston, coming up with another story to undermine the system.

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