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| *The Commerce Journal>>>United Kingdom Taxes |
Should UK taxpayers be propping up the lending to banks? |
http://news.bbc.co.uk/1/hi/business/7351... It isn't necessarily happening. I presume that the British treasury, like the US treasury in similar circumstances, has provided liquidity to banks (such as Northern Rock) in exchange for presumably adequate collateral. Of course, it could happen that the collateral might be inadequate, but the odds are good that it will suffice -- and in the process, keep a bank from failing that might cause unpleasant ripples throughout the economy. |
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