The British Bank Bailout explained in laymans terms - so s..

The Bank Bailout explained


BANKS TO LEND YOU YOUR OWN MONEY

'I got confused'

THE government is to invest £50bn of your money in British banks so they
can lend it back to you with interest. The historic move is being hailed as
a lifeline for the financial system as long as nobody asks too many
questions.

Julian Cook, chief economist at Corbett and Barker, said: "The government
will give your money to the banks so the banks can start lending you that
money, probably at around 7% APR.

"Thanks to all the interest you're paying on your own money, the banks will
make billions of pounds again and normality will be restored.

"After a few years of this the government will cash in the bank shares it
bought with your money and use the profits to build a huge f**king dome
somewhere."

He added: "In case you hadn't already worked it out - the entire global
financial system is predicated on the assumption that you're an idiot."

Chancellor Alistair Darling said the decision had been taken in tandem with
the banking industry, adding: "They used a lot of dirty words I'd never
heard before and one of them had an angry looking dog."

Meanwhile, Emma Bradford, a sales manager from Bath, said: "Why doesn't the
government just give my money to me so I can buy stuff from businesses who
will then make a profit and put it in a bank?"

But Mr Darling insisted: "Shut up."

--

Sir Hugh of Bognor

The difference between men and boys is the price of their toys.

Intelligence is not knowing the answer but knowing where and how to find it!

Hugh Gundersen
hsg.TakeThisOut@h-gee.co.uk
Bognor Regis, W.Sussex, England, UK

Some people -- incl BBC 2 Newsnight participants the other night -- added a
zero and are speaking of 500bn quid, which makes it bigger than the US
bail-out.

And today in the Sunday Times they mention GBP 400bn in one article.

Well, as it's all silly money anyway, who cares...?...

I note that Our Dear Leader decided to invoke anti-terrorist legislation to
squeeze the Icelandic government. Doesn't it make you feel great to be
British?

DAS

To send an e-mail directly replace "spam" with "schmetterling"
---
<hsg RemoveThis @h-gee.co.uk> wrote in message
news:5ense49p4slscn4h2o2aob092kq75j1k4v@4ax.com...
>
>
> The Bank Bailout explained
>
>
> BANKS TO LEND YOU YOUR OWN MONEY
>
> 'I got confused'
>
> THE government is to invest £50bn of your money in British banks so they
> can lend it back to you with interest. The historic move is being hailed
> as
> a lifeline for the financial system as long as nobody asks too many
> questions.
>
> Julian Cook, chief economist at Corbett and Barker, said: "The government
> will give your money to the banks so the banks can start lending you that
> money, probably at around 7% APR.
>
> "Thanks to all the interest you're paying on your own money, the banks
> will
> make billions of pounds again and normality will be restored.
>
> "After a few years of this the government will cash in the bank shares it
> bought with your money and use the profits to build a huge f**king dome
> somewhere."
>
> He added: "In case you hadn't already worked it out - the entire global
> financial system is predicated on the assumption that you're an idiot."
>
> Chancellor Alistair Darling said the decision had been taken in tandem
> with
> the banking industry, adding: "They used a lot of dirty words I'd never
> heard before and one of them had an angry looking dog."
>
> Meanwhile, Emma Bradford, a sales manager from Bath, said: "Why doesn't
> the
> government just give my money to me so I can buy stuff from businesses who
> will then make a profit and put it in a bank?"
>
> But Mr Darling insisted: "Shut up."
>
> --
>
> Sir Hugh of Bognor
>
> The difference between men and boys is the price of their toys.
>
> Intelligence is not knowing the answer but knowing where and how to find
> it!
>
> Hugh Gundersen
> hsg RemoveThis @h-gee.co.uk
> Bognor Regis, W.Sussex, England, UK