Dr Plokta (drplokta) wrote,
Dr Plokta
drplokta

Today's Casualty List

Bradford & Bingley: retail operations sold to Abbey (owned by Santander), mortgage book nationalised
Wachovia: taken over by Citigroup with an FDIC cap on losses
Fortis: 49% nationalised by the governments of Belgium, the Netherlands and Luxembourg.
Glitnir: 75% nationalised by the government of Iceland

One suspects that the US bailout is too little too late -- with Northern Rock and B&B, the UK government has already acquired more duff mortgages as a proportion of GDP than the US bailout calls for, and lending practices were nothing like as bad in the UK as in the US.
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  • Rogue One

    Is it just me, or is the end of Rogue One pretty depressing? The last half hour or so of the film is basically the entire Rogue One team getting…

  • What Next?

    I want your predictions for where we'll be in ten years' time, June 2026, by which time there should have been at least two general elections (unless…

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    It now seems clear that the governance of the Iron Islands derives from a mis-reading of Monty Python and the Holy Grail. They got the bit about…