Dan Glazebrook
27th February, 2016
Anyone following David Cameron’s negotiations with the EU, or the subsequent ‘in-out’ referendum debate in Britain, would perhaps forgiven for believing that migration is the cause of all Britain’s woes.
Posts Tagged ‘no more bailouts-put banks into receivership’
Who are the real culprits behind UK’s collapsing public services?
Posted by seumasach on February 29, 2016
Posted in UK economy | Tagged: bail out swindle, Bail-in not bail-out!, Cancel PFI debt!, no more bailouts-put banks into receivership, private finance initiative(PFI) | Leave a Comment »
“Blunter approach” for too-big-to-fail banks
Posted by seumasach on February 18, 2016
“We cannot tolerate a financial system in which some firms are too big to fail—at least not ones that operate in any form other than that of a very tightly regulated utility.”
19th November, 2012
It was kind of a big deal coming from the Federal Reserve Bank of New York’s influential president William Dudley. The former Goldman Sachs partner and chief economist has offered a fig leaf to those who say the problem of banks considered too-big-to-fail must be dealt with more aggressively. Some regional Fed presidents have advocated breaking up these institutions. But Dudley and other powerful figures at the central bank have maintained recent financial reforms have already laid the groundwork for resolving the issue.
Posted in Financial crisis | Tagged: Bail in the banks!, no more bailouts-put banks into receivership | Leave a Comment »
US banks still pose ‘nuclear’ threat to economy
Posted by seumasach on February 17, 2016
Another solution, he said, was to turn the big banks into public utilities by “forcing them to hold so much capital that they virtually can’t fail”.
Architect of 2008 bailout says US banks still pose ‘nuclear’ threat to economy
16th February, 2016
America’s biggest banks present a “nuclear” threat to the US economy and should be broken up, a Federal Reserve policymaker and architect of the 2008 banking bailout said Tuesday.
Posted in Financial crisis | Tagged: Bail in the banks!, no more bailouts-put banks into receivership | Leave a Comment »
UK banks vulnerable to global shock, economist warns
Posted by seumasach on February 15, 2016
“There is still a heck of a gap, as you rightly point out, between 13% and the Vickers commission’s 18%, but the Vickers commission was operating on the assumption that there would not be bail-in-able debt, if I can put it that way, which we now have or shall shortly have.”
This is very interesting – he seems to be suggesting that this time round the creditors and, presumably, the shareholders will take the hit. When the banks go under again, as they inevitably must, they will be “bailed-in” rather than bailed -out following, perhaps, the template established by Michel Barnier at the European Commision. This implies the end of the City of London as we know. We shall see.
14th February, 2016
Britain’s banks are vulnerable to a global financial shock despite efforts to shore up their finances, according to the official who led the inquiry into the safety of UK banks following the 2008 crash.
Posted in UK economy, Uncategorized | Tagged: Bail in the banks!, no more bailouts-put banks into receivership, no more bombing!-no more bailouts! | Leave a Comment »
UK banks ‘still vulnerable to global shocks’
Posted by seumasach on June 13, 2014
The idea of bailing out the banks in perpetuity is totally devoid of realism. Neither the pound sterling nor the British people would survive such a policy. The only answer is to allow the banks to fail, to put them through bankruptcy.
Britain’s financial sector remains vulnerable to further global shocks and the Bank of England must be ready to rescue banks that run short of funds, Threadneedle Street warned on Thursday.
Posted in UK economy | Tagged: bankrupt Britain, failing banks, no more bailouts-put banks into receivership, no more bombing!-no more bailouts! | Leave a Comment »
EU lawmakers reach agreement on bank rescue rules
Posted by seumasach on December 12, 2013
“Shareholders and bondholders would be first in line, with savers last in the queue, while tapping public money to prevent a bank collapse would only be done as a last resort.”
This is an important step towards ending the hegemony of finance capital in Europe.
12th December, 2013
BRUSSELS – MEPs and ministers have agreed new rules to rescue insolvent banks that would target bondholders not savers, following the final round of talks in Strasbourg.
Posted in Battle for Europe, Financial crisis | Tagged: bailout industry not finance, no more bailouts-put banks into receivership, no more bombing!-no more bailouts! | Leave a Comment »
US banks no longer ‘too big to fail’
Posted by seumasach on October 13, 2013
America’s biggest banks are now in a position to go bust without state intervention, the Bank of England’s deputy governor declares
12th October, 2013
The deputy governor of the Bank of England has declared an end to the era of taxpayer bail-outs for the world’s giant lenders.
Posted in Financial crisis | Tagged: bankrupt Britain, End of empire, failing banks, no more bailouts-put banks into receivership, no more bombing!-no more bailouts! | Leave a Comment »
Bank shortfall looms
Posted by seumasach on March 24, 2013
“For the Government, these sorts of figures are terrifying, implying some form of additional taxpayer support for either Lloyds Banking Group, or more particularly, the Royal Bank of Scotland, in which it has major stakes.”
23rd March, 2013
Britain’s banks are under-capitalised. Not just by a little bit, but a lot. Under the Bank of England’s worst-case estimate, lenders need to raise something in the order of £60bn, more than three times the amount required to bail out Cyprus, which gives some idea of the scale of the problems officials think the industry faces.
Posted in Uncategorized | Tagged: no more bailouts-put banks into receivership, no more bombing!-no more bailouts!, stop the bailout, UK bank bailout | Leave a Comment »
‘Too big to fail’ banks must be broken up – Fed official
Posted by seumasach on January 18, 2013
17th January, 2013
US “megabanks” with large toxic assets accumulated during the crisis should be split into smaller units, according to a senior Fed official. Thus they won’t be able to use the “too big to fail” excuse to get another government bailout.
Posted in Financial crisis | Tagged: failing banks, no more bailouts-put banks into receivership, no more bombing!-no more bailouts! | Leave a Comment »
Revealed: why Gordon Brown sold Britain’s gold at a knock-down price
Posted by seumasach on July 13, 2012
5th July, 2012
A great deal of Gordon Brown’s economic strategy would strike a sane man as troubling. Not a great deal was mysterious. The orgy of consumption spending, frequent extensions of the cycle over which he would “borrow to invest”, proclamations of the “end of boom and bust”: these are part of the armoury of modern politicians, of all political hues.
Posted in Uncategorized | Tagged: gold short-selling, no more bailouts-put banks into receivership | Leave a Comment »
