Zoomerang96
ONE love, blood, life
yes, that's right.
50 billion pound payout.
http://news.bbc.co.uk/2/hi/business/7357880.stm
he later says the uk financial system remains "fundamentally sound".
i suppose the best part of all this, is that this programme is only for mortgage debts on banks' books at the end of 2007, and the swaps cannot be used to finance new lending.
that's what most curious to me. housing debts are not really a new thing anymore, but what i rarely hear anything about is whether banks are actually correcting themselves in this regard. one is led to assume that they have no choice... but their obscene lending practices (the united states in particular, and canada perhaps as well) were bad enough to begin with, so who knows if they even have the capacity to correct their wrong-doings.
what you reckon financeguy?
50 billion pound payout.
http://news.bbc.co.uk/2/hi/business/7357880.stm
Under the scheme, banks will be able to swap potentially risky mortgage debts for secure government bonds to help them operate during the credit squeeze.
Mr (Alistair) Darling said it would "help resolve" problems in credit markets and make life easier for would-be borrowers.
he later says the uk financial system remains "fundamentally sound".
i suppose the best part of all this, is that this programme is only for mortgage debts on banks' books at the end of 2007, and the swaps cannot be used to finance new lending.
that's what most curious to me. housing debts are not really a new thing anymore, but what i rarely hear anything about is whether banks are actually correcting themselves in this regard. one is led to assume that they have no choice... but their obscene lending practices (the united states in particular, and canada perhaps as well) were bad enough to begin with, so who knows if they even have the capacity to correct their wrong-doings.
what you reckon financeguy?