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bloomberg.com - 1/19/2009

Darling Sets Second U.K. Plan to Rescue Banks, Spur Lending

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Jan. 19 (Bloomberg) -- Chancellor of the Exchequer Alistair Darling announced the second British bank rescue in three months, proposing insurance to underwrite mortgage-backed debt and toxic assets and reversing plans to shrink Northern Rock Plc’s lending. The Treasury also said it will ...

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bloomberg.com - 1/22/2009

France’s Lagarde Says BOE Should Do More to Support Pound

— bloomberg.com — Jan. 21 (Bloomberg) -- French Finance Minister Christine Lagarde said the Bank of England should do more... to support the pound after it fell to the lowest since Margaret Thatcher was prime minister. “The Bank of England does what it can, but its ... (more) France’s Lagarde Says BOE Should Do More to Support Pound

Currencies

Anglo Irish Bank

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telegraph.co.uk - 1/19/2009

Bank bailout plan announced by Alistair Darling

— telegraph.co.uk — 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 ... (more) Bank bailout plan announced by Alistair Darling

Government

Anglo Irish Bank

Bailout Plan

Comments vote downundo vote up The Mess That Greenspan Made found this 1/19/2009found this

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Flash!
Macro Man — Another day, another bailout. This time it's on the east side of the Atlantic, where the UK authorities have organized another capital injection/loan guarantee program for (some of) Britain's troubled banks. Last Friday, the feel-good rally in equities and sterling was rudely interrupted by a late-session swoon by some of the UK banks deemed most vulnerable, a turn of events sufficiently troubling that "Flash" Gordon Brown and his Darling sidekick have organized another bailout. Flash Gordon may have saved the world with his earlier bailout, but he didn't manage to save RBS, still reeling from its catastrophic acquisition of ...

The British Pound: 20% Undervalued Against Its European Neighbours
Daily Markets — The British Pound: 20% Undervalued Against Its European Neighbours By Macro Man on January 20, 2009 | More Posts By Macro Man | Author's Website Another day, another bailout. This time it’s on the east side of the Atlantic, where the UK authorities have organized another capital injection/loan guarantee program for (some of) Britain’s troubled banks. Last Friday, the feel-good rally in equities and sterling was rudely interrupted by a late-session swoon by some of the UK banks deemed most vulnerable, a turn of events sufficiently troubling that “Flash” Gordon Brown and his Darling sidekick have organized another bailout . ...