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Goldman GB-UK-EU Sacked At Long Last, Now In The USA |
America's biggest banks are now in a position to go bust without state intervention, the Bank of England's deputy governor declares
The deputy governor of the Bank of England has declared an end to the era of
taxpayer bail-outs for the world's giant lenders.
Almost five years to the day since the collapse of Lehman Brothers triggered the worst financial crisis since the 1930s, Paul Tucker claimed that America's biggest banks are now in a position to go bust without state intervention.
Britain and the rest of Europe are "not far behind" but draft laws still need
to be ratified. In future, the cost of a bank bail out will be borne by its
investors rather than nurses and teachers, Mr Tucker said.
Five years ago this month, Britain rescued its biggest lenders with a series of cash injections and state guarantees worth a total of more than £1 trillion at the peak of the crisis.Some £65bn was ploughed directly into Royal Bank of Scotland and Lloyds Banking Group to ensure Britain's payment systems stayed open and the country's vital financial infrastructure continued to work.
"I cannot see how the US administration could persuade Congress to provide taxpayer support to some of the biggest US banks," he said. "I don‟t mean it would be completely smooth right now; it would be smoother in a year or so as more progress is made. But in extremis, it could be done now.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10374998/US-banks-no-longer-too-big-to-fail-says-Tucker.html
Gov USA Shutdown ~ Paul Tucker Shutdown Goldman Sachs, Wall Street, Global Mafioso Financial Paedophilia Metzitzah b'peh Cultists? As Above So Below, Shutdown Gov Handouts To ALL Criminally Insane GS Global
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