...to the amount of public money they are willing to use to bail out the banks? What sort of message are they sending out? If they are not bailing out the banks with our money, what are they doing exactly???
http://www.telegraph.co.uk /money/main.jhtml?xml=/money/2008/04/21/ ndarling321.xml
The Bank of England has announced an unprecedented cash injection for banks in an effort to revive the declining housing market - but warned that taxpayers could be hit with a bill higher than the initial £50bn estimate.
Under the "one-off" scheme, the Bank will loan money to banks and building societies in return for potentially risky mortgage and credit card debts.
Mervyn King, the Bank's governor, said the offer was intended to "increase the liquidity of the banking system", and insisted it was not a bail-out or a reward for irresponsible lending.
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