The Banking Crisis Still Looms Large

[Sukerkin]

As has been noted before, it could well be that the depressive economic cycle we have been plunged into by the reckless actions of some of us, some of whom should have known better (in fact some of whom were paid to know better), could be with us for a generation.

I was listening to a business programme today with some serious senior fiscal figures saying that even now banks are dangerously over-geared (not keeping enough real capital on hand) - they are teetering on the brink still, despite being given decades worth of cash for free and all it would take is for some bigger deals to under-perform by one percent and down tumble the balance sheets once more.

This statement from a Bank of England official lends still more weight to that view:

http://www.bbc.co.uk/news/business-20585549

 

[Sukerkin]

http://www.bbc.co.uk/news/business-20613528

Some interesting choices in the budget I have to say. The incentives to invest in smaller businesses is a move to be applauded I think, as is the planned infrastructure money.

Spending billions anticipated from the telecoms companies before we have it tho' is a touch on the risky side.

 

[Tez3]

We really need to stop giving the EU so much money! Perhaps if we did my colleagues and I could keep our jobs.