U.K. first mover … forced … again
The U.K. was the first to nationalize a bank … Northern Rock …
NOW they step in to “nationalize” at least partly the “former big” banks.
Market talk is, that tomorrow BEFORE markets open, an announcement from Mr Darling will be made.
Talk is, that the UK Govt. will take stakes in RBS, Barclays and TSB totalling around 45bln GBP
To stem the SLIDE …
Good bye to free markets …
Expect more to come …
This planet is about to change !!!
Tags: Banks, nationalization, U.K.
Oktober 8th, 2008 at 10:43
i think what we got to know this morning on the 8th of October 2008 is an EXTREMLY bright plan of the british government;
the provisions will get the LIBOR market on foot again … as the UK acts in a way as CCP for all money markets transactions …
this is innovative and much more effective than just granting guarantees for individual banks…
Im not sure whether Germany needs a similar thing
[because LIBOR is at London and is the main source of interbank liquidity],
but Im very much of the opinion that the GERMAN GOVERNMENT should participate in the new CCP funktion of the UK!!!
Oktober 8th, 2008 at 20:47
Yes … right you are!