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01-20-2009, 02:52 AM #1
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Hundreds Of Billions Of Bailout to the Banks Again
From The Times
January 19, 2009
Hundreds of billions of taxpayer money to bail out the banks again
Sam Coates, Chief Political Correspondent, and Helen Power
The taxpayer will be asked to gamble hundreds of billions of pounds today in a second bank bailout.
The Government will offer a massive package to guarantee lending and insure banks' bad debts.
Barclays may have to accept government stakes to take part in the £200 billion scheme under which the taxpayer could foot a potentially unlimited bill for bad debts such as sub-prime lending in America.
High street lenders were locked in negotiations last night over the terms of the insurance plan, which will provide payouts from the public purse if the value of a bank's “toxic assetsâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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