Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Banks To Get £37bn From Taxpayer

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Sky News
Monday, Oct 13, 2008

The Government says it has agreed to bail out three high street banks – RBS, HBOS and Lloyds TSB – to the tune of £37bn.

The announcement came after Royal Bank of Scotland said it would be raising £20bn of new capital including £5bn in cash from the Government.

As part of the deal the bank’s under-fire chief executive Sir Fred Goodwin is to stand down.

Lloyds TSB is also to raise £5.5bn of new capital, and is also revising the terms of its takever of rival HBOS.

(Article continues below)

Barclays has confirmed it plans to raise more than £6.5bn of extra capital from investors to strengthen its balance sheet.

  • A d v e r t i s e m e n t

The group also said it will not be paying a £2bn dividend for the 2008 financial year.

The huge bail-out will leave foreign-owned HSBC as the UK’s only major, fully independent High Street bank.

Full article here

This article was posted: Monday, October 13, 2008 at 4:05 am

Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

Raheem Kassam: Sh*thole London See the rest on the Alex Jones YouTube channel.

Germans Being Mass Brainwashed by TV to Submit to Islam See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/bcPVfa76Qig https://www.youtube.com/embed/kYmTFL9nbRQ

© 2018 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.