September 26, 2008
Five UK banks may qualify for US bailout package: Report
Posted by: admin : Category: Current affairs
According to Business Standard,
UK’s five leading banks own around 95.3 billion pounds of distressed assets that may qualify for the US government’s proposed $700-billion bailout package, a media report said today.
“Britain’s five leading high street banks have as much as 95.3 billion pounds ($175 billion) of distressed assets on their books that may qualify for the American bailout scheme,” The Times reported.
Though the customers get their money, the IT firms to which these banks had outsourced their job will not be paid a penny. US bail out for creditors and investors only will happen. This is my personal opinion.
