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Bailout II - The Return of the Insolvent
Comments
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Thrugelmir wrote: »I thought it was down to a weak £ reducing the banks liabilities.
If they have lent money from abroad, the weak £ would make it worse. I think Lloyds has to renew more debt next year, just a stable pound would help most I presume
QE helps support bond prices which helps make bank security look good? Where as Santander if they did have 30bn of Spanish debt must look pretty shabby as it falls in price
Only Standard Chartered has good foreign income making a weak pound in their favour I guess though they report in Dollars so who knows how that trick works out0 -
Do you think Nostradamus was a banker, or a shorter of banking stock ?
2012 is looking like a turbulent year.
Luckily, we have doubled the budget for the Olympics fireworks display to over £80m.
Nothing like getting your priorities right eh?
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1984ReturnsForReal wrote: »Evening Gen.
More carp hitting the fan by Monday morning then.
Fatherland civis are going to love this one...........
Good morning old chap. Feculence is, I agree, heading flabellum-wards.
At least they're getting back to bailing out themselves rather than everyone else which should play slightly better with the voters. To be bailed out once, Mr. ReturnsForReal, may be regarded as a misfortune; to be bailed out twice looks like carelessness.
IMHO however, the contagion continues with the insolvent driving the solvent to the wall. That seems to be an idea that is gaining some popularity right now with the AAA Eurozone members all being put on negative watch and a couple of investment banks putting out research notes to that effect.0 -
Luckily, we have doubled the budget for the Olympics fireworks display to over £80m.
Nothing like getting your priorities right eh?
Speaking of the Olympics (albeit not wanting to stray too far off-topic), the Beeb have a good summary on the history of the funding estimates -
http://www.bbc.co.uk/news/uk-16036435
How 2012 budget has changed- 2003: Consultants Arup put total cost of building and staging the Games at £1.796bn
- 2003: Tessa Jowell launches bid in May telling MPs it will cost £2.375bn - including a 50% contingency
- 2005: Bid succeeds in July with "prudent" estimate of preparing for games of £2.4bn
- 2007: Total budget, including a £2.75bn contingency, reaches £9.325bn
- 2010: In May the new government cuts the budget to £9.298bn and the contingency falls to £1.27bn
- 2011: In December the NAO says after the government's "assessed risks" are met £36m is left in contingency money
:eek:
It still pales in comparison to the bank bailouts though.....0 -
It was quite indicative that China rebuffed the EU when they were scrabbling around with the begging bowl.
China still has global ambitions which include Europe; they are just holding out for the inevitable fire sale.
Germany alone cannot sustain the Euro. It's a train smash in slow motion.Nothing is foolproof, as fools are so ingenious!
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...
IMHO however, the contagion continues with the insolvent driving the solvent to the wall. That seems to be an idea that is gaining some popularity right now with the AAA Eurozone members all being put on negative watch and a couple of investment banks putting out research notes to that effect.
I confess to having sympathy with the views expressed by the likes of Professor Steve Keen. There should have been a solution involving capitalist failure within the banking system.
But then, I am just a lay person, and the prevailing mood poured scorn on those who expressed concerns with the handling of the crisis.
Only future historians will be able to write the history books with the correct interpretation I suspect.0 -
IMHO however, the contagion continues with the insolvent driving the solvent to the wall.
"Bad money drives out good"...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
I quite like this:
US$ 100
US$ 10,000
US$ 1 million
US$ 100 million
US$ 1 billion
US$ 1 trillion :eek:
Source: PageTutor.comThere is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
I am getting bored of this whole long-drawn out "crash".
We can all see that they might as well just accept the inevitable.
I wish they'd just give up and let it all cave in completely!0 -
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