Tuesday, 4 August 2009

Barclays and the bailouts...

Just thought I'd point you in the direction of my recent post at Liberal Vision questioning the bailout policy...
There is something really rather annoying about Barclay’s and HSBC’s financial results...
Barclays has announced an 8% rise in first-half profits, boosted by its investment banking division.

Pre-tax profits for the first six months came in at £2.98bn ($5bn), although this was slightly below analysts’ forecasts … HSBC reported half-year profits of $5bn, although this was about half what it made in the same period a year ago.

And it’s not that a bunch of cough-bankers are going to get some rather nice bonuses this Christmas. It’s that we actually fell for the Government line that if we didn’t bail out the banks the world would end.

It's triggered off a rather interesting argument with a Vince Cable fan-boy so hopefully it's worth the read.

No comments: