Oct

8

A Similarity, from Riz Din

October 8, 2008 |

I quite like the UK deal. The banks have agreed to raise £25bn between them - they'll probably be passing the begging bowls around current shareholders, hedge funds etc, as they don't have to accept funds from the government, which would dilute ownership . The government option is there but I imagine it will only be used as a desperate last resort. Better to have diluted ownership than nothing, I guess.

'Brown's bailout' has quite a nice ring to it, but from what I've read there are many more references to deal as a 'rescue' rather than 'bailout'.


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