What a difference in a day. More banking sector turmoil almost joining the dots from the last couple of days. Some banks still seem to be sidestepping the problems, whilst others are disappearing in flames.
The US Government has effectively nationalized AIG to stop it from sinking. That means they've put around $300bn into rescuing a variety of financial organizations over the last few weeks. I make that somewhere around $2,400 for every citizen of the USA.
And it looks as if a well known horse logoed bank is about to rescue the ailing singing bank. Based upon a recent friendly lunch between Gordon and some senior bankers, it appears that all of the normal monopoly investigations can be bypassed.
Could there soon be a UK superbank with 1/3 of all UK financial arrangements held within it?
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