End of british banking as we know it!

Looks like natwest will now be part nationalised as will most uk banks (the only exception at this stage being hsbc!)


Of course what we should be doing is nationalising the lot not just the failed parts and flogging the assets.

Why should we pay for their crisis!

Anyway here's a press release from LEAP
 
FOR IMMEDIATE RELEASE:
 
Shares tumble, the market in crisis, the government dithering - Labour MP demands statement from Chancellor today!
 
John McDonnell, Chair of the Left Economic Advisory Panel, said
 
"The Chancellor's delay in coming up with a plan is being interpreted as dithering"
 
"I am now calling for the Chancellor to return to the House of Commons today in order to make a statement to the House setting out an effective plan to deal with this crisis."
 
"My view is clear – the key question is who should pay for this crisis?  Pouring taxpayers money into bailing out the banks by recapitalisation without nationalisation will mean that ordinary taxpayers pay for the crisis caused by the mistakes and greed of the bankers. Nationalisation to control the banks, prevent repossessions and halt company closures is the only way to provide the security needed."
-Ends-
 
For further comment or interview 020 7219 1626
 
MarshaJane
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