Tag Archives: alistair darling

British Bank Rescue

From Australia: Hank Paulson’s a wimp. Alistair Darling, Britain’s Chancellor of the Exchequer, has shown him what a real bailout looks like, throwing £500 billion worth of support, including up to £50 billion of taxpayer-sourced equity, at the UK banking … Continue reading

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No Quick Solution To Britain’s Mortgage Woes

From FT.com: The British government was told yesterday that there was no quick solution for the country’s mortgage crisis and that the long-term funding of mortgages should be left to the market. A report commissioned by Alistair Darling, chancellor, from … Continue reading

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British Mortgage Troubles

From the Independent: The increase was partly due to the shrinking size of the balance sheet as the bank encourages customers to redeem their mortgages and go elsewhere. Mr Sandler wants to roughly halve the size of Northern Rock’s loan … Continue reading

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UK Interest Rates Not Falling Any Time Soon

So the UK Chancellor Alistair Darling met with the big lenders today and tried to talk them into lowering their interest rates. That ain’t happening soon. The banks see the country is headed for recession. That means more defaults on … Continue reading

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Expect A UK Mortgage Rescue Plan Next Week

Reuters has an inside source and says to expect specifics next week. Britain’s mortgage crisis has ended economic growth and threatens jobs. Here’s more: LONDON (Reuters) – British authorities are working on a plan to break a lending squeeze gripping … Continue reading

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British Chancellor Meets With Leading Mortgage Lenders

The Times of London reports on Alistair Darling’s attempts to halt the credit crisis. Lenders and the Labor government have become increasingly hostile over the past few weeks. The prime minister has criticized lenders for not passing on interest rate … Continue reading

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What’s The Solution to the Mortgage Mess?

The Times of London reports that central banks, led by the US Federal Reserve and including the Bank of England, announced more than £100 billion worth of joint action to free up wholesale funding markets by pumping liquidity at the … Continue reading

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