Saturday, April 19, 2008

The Debts of the Spenders: British Banks Close to a Bailout Deal

Newton, an Englishman, invented the theory of gravity. What goes up must come down. The same can be said of soaring real estate prices in the UK. Policymakers estimate that 100 billion pounds are necessary to sustain economic viability. This, coming after three consecutive rate cuts AND a bailout of Northern Rock.

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