Tuesday, 24 November 2009
The secret £62billion for banks. Who else has been paid money?
"Royal Bank of Scotland (RBS) and HBOS were kept afloat with £61.6 billion of 'secret' loans at the height of the financial crisis, the Bank of England said today. The Bank revealed for the first time the details of its Emergency Liquidity Assistance (ELA) to both banks in a submission to the Treasury Select Committee. Details of the loan were kept secret at the time to avoid panicking the markets any further."
Why wasn't this told to the shareholders and why has it taken a year to come out about this secret loan?
Yellow streak Brown told Lloyds bank the HBOS deal was a good move knowing HBOS couldn't pay their next salary bill, and the suckers who bought Lloyds shares during the takeover thinking they were going to make a killing, when in fact all they were buying was a dung heap.