Panic over

  Grey Goo 16:12 13 Oct 08
Locked

Well according to this person anyway.
click here

  spuds 16:21 13 Oct 08

I think Nostradamus missed that one out :O)

  peter99co 16:23 13 Oct 08

David Jones, 37, who works in the Canary Wharf HQ of Barclays - a bank that has so far rejected the Government bail out - said: 'I think Gordon Brown has the experience no other prime minister has and we are quite lucky to have that level of leadership and I am not even a Labour supporter.'

Not everyone was quite so impressed.

A US banker, who gave his name only as Christopher, sniffily walked past, saying: 'What this means is the Government, which is far less capable of running a business than the businessman, is now in charge of the banks.'


click here

  Forum Editor 18:40 13 Oct 08

which is far less capable of running a business than the businessman"

I think most people with any sense might feel that the government (any government,come to that) isn't likely to make much more of a mess of the banks than the people who have been running them recently.

Banking is all about assessing risks, and if you don't lend any money you don't take any risks. The problem the banks face now - if they take public funding - is that the government will force them into lending money to home-buyers, or at least it will if it has the slightest grain of sense.

And back they go into the risk business.

  peter99co 18:47 13 Oct 08

Some will have had their knuckles rapped and may be less cavalier with the funds. I am glad I am not in need of a home buy.

Maybe the rental market will grow in the short term. Owning a home is a big step for some and this is bound to make others think twice.

  donki 18:48 13 Oct 08

Well lets hope they just lend to the home owners that can actually pay back what they need or we will be in the same position 10 years from now and the £65 billion will have dissappeared. Although the thought of civil servants running a bank is a little scarey.... and I am a civil servant.

The house prices need to drop furher in order for first time buyers to realistically afford to buy and run a house. But as house prices fall furher more money is going to be lost by the people who bought the houses at infated prices. Personally I dont see what giving all this money to the banks is actually going to accomplish. People are finding times tough enough with the cost of living alone.

  laurie53 19:56 13 Oct 08

The latest plan, as I understand it, is that the government is to underwrite these banks by buying shares in them to the tune of several billion pounds.

To do this they are going to have borrow the money.

Who from, pray?

Sorry posted this in the wrong thread originally

  Grey Goo 08:10 16 Oct 08

Seems to have got it seriously wrong, how surprising.

This thread is now locked and can not be replied to.

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