Sunday, January 18, 2009

Is This The Direction in Which The U.S. is Heading?

Wow, the U.K. itself will supply funds to the borrowing public. I guess it is not a big stretch when you consider that the U.K. government owns 58% of the Royal Bank of Scotland and 30% of Lloyds TSB.

Recall my post from last week regarding the incredibly large number of reserves held in our banking system. The U.S. government is being forced to a corner: pony up funds or look like the bad guy.

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