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  1. #1
    Thailand Expat jandajoy's Avatar
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    Mar 2008
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    02-11-2016 @ 08:50 AM

    Britain to launch $90b bank rescue:

    Britain to launch $90b bank rescue: report

    Posted 41 minutes ago
    Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a 35 billion sterling ($91 billion) lifeline, the Sunday Times reported.
    The unprecedented move would make the Government the biggest shareholder in at least two banks, HBOS and Royal Bank of Scotland, the newspaper said on its website. It did not give a named source for its information.
    The Sunday Times said Royal Bank of Scotland, which has seen its market value fall to below 12 billion sterling, was to ask ministers to underwrite a 15 billion sterling cash call.
    It said HBOS, Britain's biggest provider of mortgages, was seeking up to 10 billion sterling, Lloyds TSB, in the process of acquiring HBOS in a rescue merger, wanted 7 billion sterling, and Barclays needed 3 billion sterling.
    - Reuters

    This is the Times article.

    State to save HBOS and RBS - Times Online

  2. #2
    Mid is offline
    Thailand Expat
    Mid's Avatar
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    Aug 2007
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    postponing the inevitable ................

  3. #3
    Tax Consultant
    Thormaturge's Avatar
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    Jul 2007
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    Treating the symptom and not the cause. There is going to be far worse trouble than this in future as the banks gobble their way through the taxpayer's money.

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