Tradefair & Financials
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Is this also bad news for the taxpayer?
[i]THE Bank of England is on track to make record profits this year after reaping enormous fees from its bailout of the financial system.
Emergency loans to Britains banks and building societies have yielded hundreds of millions of pounds in interest payments.
Stimulus measures, such as the Banks £200 billion quantitative easing programme, have clocked up short-term profits running into billions.
Estimates by analysts suggest the Bank, which is wholly owned by the Treasury, could post profits of at least £4 billion for the year
[i]THE Bank of England is on track to make record profits this year after reaping enormous fees from its bailout of the financial system.
Emergency loans to Britains banks and building societies have yielded hundreds of millions of pounds in interest payments.
Stimulus measures, such as the Banks £200 billion quantitative easing programme, have clocked up short-term profits running into billions.
Estimates by analysts suggest the Bank, which is wholly owned by the Treasury, could post profits of at least £4 billion for the year
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Pretty irrelevant isnt it? A weeks borrowing isnt it?
the banks are now reporting decent profits even after paying the b of e these fees and interest payments. as i see it, the consumer is stumping up the cash.
if they are paying extra money to the banks there is less to spend on the high street.....not good for getting out the recession.
if they are paying extra money to the banks there is less to spend on the high street.....not good for getting out the recession.
So the government buys up the banks, and then charges the banks interest devaluing their own investments? Great. Very positive story when in reality it makes sod all difference
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