Bank bailout plan announced by Alistair Darling

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TeamPlayer

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Alistair Darling has admitted he has no idea how much money the Government will need to pour into failing banks to stave off a collapse in the sector that could bring down the entire economy.

The Treasury has formally announced a scheme to allow banks to exchange cash or shares for a Government guarantee on their "toxic" debts, transferring any losses they suffer from the banks to the taxpayer.

However, the Chancellor admitted he can't estimate how much taxpayers' money will needed in the latest bailout.

"We need to talk to the banks - we will then decide how much risk we are prepared to take on," Mr Darling told the BBC Radio 4's Today programme.

Telegraph
 

ms2134

Yellow Belt
I find it quite upsetting to see that Bank Bosses still get very large salaries despite the Bank being in trouble and its clients loosing money.

Why?? - The bank should be sorting itself out and not spending more money.

~ Mike
 

odls

Yellow Belt
I totally agree with you about the salaries and bonuses some of the top brass earn.

They are quick to say they deserve it when they are doing well, so, on that basis, if the bank is performing poorly they should lose their bonuses and forego any increases in pay.

Trouble is of course that we can do without a lot of institutions, but we can't do without banks - and they know it!
 
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