Monday, April 11, 2011

Independent Commission on Banking report means more debt and cuts

Mervyn King in a devastating speech argued that British banks are too big to fail.If a bank collapses like dominoes it knocks over the banking system and crashs the economy.Because they know this banks have a hidden subsidy, they can afford to take risks because if it all goes tits up, the government has to bail them out.The bank bailout is part of the reason why we have a fast appraoching £1

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