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The Bailouts – Brother, Can You Spare a Dime?
I read somewhere that the Federal Bailout will put every man women and child in our country in debt to the amount of $10,000. Here is my question.
Are We in the Worst Financial Mess Seen in 100 Years?What a mess! The Royal Bank of Scotland bosses Sir Tom McKillop and Sir Fred Goodwin said that the purchase of ABN at the start of the credit crunch with all its toxic debts was a bad mistake. They bought the Dutch Bank ABN at the top of the market and this one deal could have bankrupted the RBS if the government had not stepped in with taxpayer’s money to bail them out to the tune of £38 billion. The HBOS bosses Lord Stevenson and Andy Hornby admitted that their bank had become to dependent on unreliable finance from the wholesale markets and they had been irresponsible when lending money to property and construction firms.