United Kingdom in the financial times: death by bankers, the bank nationalization _ Guma

United Kingdom in the financial times: death by bankers, bank nationalization author: United Kingdom "financial times" columnist Philip 8226; Stephens (Philip Stephens) this time, Gordon 8226; Brown (GordonBrown) guilty of underestimating the fault. A few days ago, the United Kingdom Prime Minister on the public on the acts of the United Kingdom has become increasingly dissatisfied with the Bank. "Furious" maybe this should be the national mood more accurate portrayal. In a recent visit to Washington, I heard some people said that once you start to settle accounts, some Wall Street big brother will jail. I feel that one side of the Atlantic that many people want to see two United Kingdom bankers this fate. Royal Bank of Scotland (RBS) has announced that the cumulative losses last year, more than 200 million pounds �� this does not lead to more eloquent proof of the financial system collapse of that kind of self-righteousness. Banker friends (I still have some) said that the Bank of Scotland in bid for the Netherlands (ABNAmro) behave extremely sloppy. But unless my memory is wrong, Barclays Bank (Barclays) almost equally steeped in the sticker shock takeover now bankrupt Netherlands Bank. As for the banks balance sheets of toxic loans, each week a new horror story out of the oven. Of course, Brown's speech with a political calculation. He shall no longer take Asian Investment Bank GBP taxpayers to avoid recession. Gordon Brown needs to protect his weak point: once again, Bank bail-out will not be increasing popularity. United Kingdom Prime Minister anger directed at banks do not want to completely frankly what risk assets, while they last fall was the Government's huge relief. This is bad enough. However, business managers, or even just want to preserve the personal funds to most angry, is Bank of nonchalant and accolade �� the two words are intertwined and can usually be described the bank crisis response. We are told that this is a God; or all United States human error; or we should blame regulators. As for nationalisation, it's not heaven. You must allow all bankers business without interference, even when they absorb public funds. Bank of course emphasized that they are still in the enterprise and the solvency of home lending. Fatal crux of their guarantee and customer's everyday experience. Everywhere in the reduction of loan limit. A few days ago, from a letter from Lloyds TSB Bank (LloydsTSB) letter, I see a little Bank. The letter informed me that I have ten years (no use) of overdraft limit will instantly by half. If the Bank admits that it is in the control line of credit, I might not. Instead, it promised to me was "meet your needs, there are plans for overdraft" �� an obvious nonsense angered me. Perhaps it also expect me to give it back to a thank you letter. My conclusion is that cheating is Bank of nature. In discussing the much higher than I was cutting the amount of the overdraft limit, Gordon Brown seems to be the same is not straightforward. Brown had no choice but to pay for it. Stunned that the taxpayer does not have to conclude that can allow the Bank to hold the nose of the national economy. At present, the latest relief programmes appears to determine accurate, although the specific details will be tricky. By underwriting the most problematic Bank loans, the Government eliminated a huge credit shortage. Security for enterprise bond, so that large enterprises have the opportunity to obtain additional funds, but also let Brown won the United Kingdom industry Federation (CBI) praise. It also gives a United Kingdom Bank of England an important weapon, through what is known as quantitative easing monetary policy to fight deflation. Government on mortgage-backed securities collateral may be able to help them return to the market. Brown tried to indicate that it does not mean that the Bank had a blank cheque. Finance Minister Aristides Deir 8226; Darling (AlistairDarling) stressed that the guarantee scheme costs will be for individuals and small businesses new credit of targeted "loan liability agreement". Today, things have come to this point, I do not understand why the Government has not taken the next step of reasonable action gets all those currently rely on public funding agencies of a majority share. It would make things simple. The banking system is in fact already nationalized, the Ministry of finance control with Royal Bank of Scotland, and holder of newly merged Lloyd Bank Group (LloydsBankingGroup) of a large number of shares. Still on government intervention in the hostility of Barclays, Bank can give up all kinds of public aid, to maintain their independence. Whitehall officials tell me that overall there is not a correct choice of nationalization of the various technical reasons �C but they said, this is still likely to occur. Maybe Brown's retreat is because he made it clear that once you start to settle accounts, objects are not only bankers. They will say that their own explanations are leveraging politicians and policy makers by the rules. But now, in addition to shoot the banker, the bank nationalization, I can't think of anything more palatable. Perhaps you could even win a brown. Think about it, we may also use this to get rid of clutter.