As predicted on this very 'blog*, once you net off all the debits and credits, the ultimate source of finance for our cheap loans was China, Japan etc, and seeing as we can't repay them in cash, we'll let them gradually take over our banks.
One story I missed from July was Barclays issuing more shares to The China Development Bank and other SFW's. Which is mighty chucklesome; the self same bank invested £1.5 billion in Barclays just over a year ago, and has, presumably, lost one third of its money, even after the recent upward tick.
See also Nomura to buy Lehman's Asia business.
* See here or here.
A grim document
12 hours ago
0 comments:
Post a Comment