Skip to comments.Lloyds and RBS need billions more capital, Bank of England says
Posted on 01/24/2013 1:35:05 PM PST by Lorianne
Britain's bailed-out banks need billions of pounds more capital to shore up their balance sheets and support the economy, senior Bank of England officials have warned.
UK regulators have given Royal Bank of Scotland and Lloyds Banking Group until March to begin dealing with a black hole that Brooks Newmark, a Tory member of the Treasury Select Committee, suggested could be as large as £30bn.
Bank officials refused to quantify the capital shortfall in evidence to the TSC yesterday, but they confirmed it was substantial. Michael Cohrs, a member of the Banks Financial Policy Committee, said it was a big number while Andy Haldane, the Banks executive director for financial stability, agreed it was material.
(Excerpt) Read more at telegraph.co.uk ...
So Americans again, are about to bail out British bankers again. All the while, enduring their assaholic lectures about how London is the savvy financial center of the earth. And how he global economy is more important than our national interest.
Im pretty tired of having to prop up international bankers because they are too big to fail. Let the British fed print up all the pounds they need. But just watch, we will futher debase the dollar to do it FOR them.
Take the same billions they are planning to give the banks as a bail out and instead bail out citizen debt and watch the economy sore upward.
Despite what the article says, bailing out the banks is not the way to save the economy.
Let the banks fail, save the consumer