Banks in bail out 2

BANKS are to be handed BILLIONS more pounds of public money-but this time they will be FORCED to pass it on to borrowers.

Chancellor Alistair Darling will begin work on details of a second bail-out tomorrow-despite handing over £37BILLION just two months ago.

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He is having to flash the taxpayers' cash for a second time because banks are still refusing to loan money to cash-starved families and businesses - sending many firms to the wall.

But the new bail-out plan will have more strings attached, to force the banks to boost lending.

Meanwhile, PM Gordon Brown will spend the next week touring the country -announcing new plans to get people back to work.

One initiative is that companies from key sectors will be subsidised to train thousands of apprentices who will later work elsewhere.

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This article has 26 comments

I seem to recall that Alister Darling, our puppet chancellor was a councillor in Edingborough city a few years ago. He was responsible for traffic system being installed which caused the city to grind to a halt and was reverted back to the old scheme within a week. He then seemed to disapear only to reapear as an MP and in the government.
Maybe I have the wrong Alistor Darlng, but I don't think so.

By John.. Posted January 18 2009 at 4:08 PM.

I see that Brown has agreed to give more of our money to clean up the bombs in Gaza. This mans a genius! He can find the money (see Government pledges over the past 3 months) for any given situation in any given area except of course if its going to put money into the pockets of the great British public then his excuse is we can't afford it! Ask the police!

By Brian.. Posted January 18 2009 at 1:37 PM.

Paul Davies has it right. Every time Labour comes into power, they damage the whole country. Then the Tories come along and have to put it right again. The Tories had a nice stockpile of cash for emergencies and Labour come along and squander it all on rubbish.

By Jose.. Posted January 18 2009 at 9:28 AM.

I think the people who have emigrated and then crow over the mess we are in are almost as nauseating as Brown and Darling. Taking delight in someone elses misfortune is a revolting thing to do. I hope they all stay in their adopted countries and never come back.

By Simon.. Posted January 18 2009 at 6:34 AM.

I have just moved to Aus to escape that pathetic government. Here is Aus politicians are hounded out if they step out of line. Why do the English stand for it?. Get off your backsides and demonstrate to your MPs, dont make there lives easy. Meanwhile while Rome burns Brown is continuing to give your hard earnt taxes away. gold reserve gone . Euro rebate gone. Pensions raided.The most pathetic immigration policies. But he still find millions to give to 3rd world countries.Who in the right mind will invest in the Uk whilst these incompetant lot are in power.The welfare bill will bankrupt the Uk .

Will the last one to leave turn out the light.

Carl Brisbane OZ

By carl pugh.. Posted January 17 2009 at 11:46 PM.

Why doesnt the Labour lower taxes so people can pay off their own debts instead of raising taxes to pay off the banks debt?

By Steve Tea.. Posted January 17 2009 at 10:05 PM.

How much longer are we going to allow this apology for a government to continue to chuck billions of taxpayers' money down the drain.
Yet there are STILL millions who will vote them back in again!

By ROGER.. Posted January 11 2009 at 10:21 AM.

drop jaw,bitten fingernails,phony accent,phony grin,liar,fraud,charlatan,scottish,way out of his depth,totally incompetent,complete fool, just a few things that would discribe our unelected, who's constituency is not even in this country, has no right to be in the position his in, primeminister.
GET HIM OUT>NOW
ps, anyone noticed darlings eyebrows?

By bob.. Posted January 4 2009 at 8:05 PM.

Brown & Darling are wrecking this country it doe's not matter how low the Bank of England drops interest rates no one is going to spend if they have no confidence, they are just screwing every honest saver.

By Nev.. Posted January 4 2009 at 3:10 PM.

Words fail me as to how incompetent this Labour government is. We are heading for the worst job losses, reposessions and company closures since records began. The pound is going into freefall yet Brown is still telling is we're going to be OK. Anything Brown says makes me want to throw up.

By Tansy.. Posted January 4 2009 at 2:46 PM.

Labours policy of no more "boom and bust" which has been the cause of the current economic crisis caused by Gordon Brown. He led people to believe that they could live beyond their means and this meant taking the poor out of poverty (whatever that is) and making them think they could live beyond their means. Subprime is lending to people who have a high chance of defaulting on their loan.

Personal debt under Labour has tripled to £3.6 Trillion pound because Brown quango The FSA did nothing to keep the banks in check, whilst Gordon year on year told the world he had everything under control, which he hadn't.

Lower taxes because people cannot afford to pay off their debt and carry on continuing to contribute to such a bloated public sector.

By steve tea.. Posted January 4 2009 at 2:45 PM.

Yes the banks are to blame, but are they the only ones at fault?
We live in a society that rewards laziness and dossers. Surley the bail out of the banks would not be necessary if people did not take out loans in the first place for items that with a bit of patience could be saved up for.
If everyone worked (hard), if everyone had values, if everyone lived to their station then this country would be in a far better place.
I live in one of the most deprived areas in the country where people claim for broken toe nails and the hard working amongst us get laughed at for being who we are, yet in this ''crisis'' I am happy to say that I am 25 with my own house, paid for car and with the ability to do whatever I want whenever I want to do it.....all because of hard work, ambition, drive and the fact that I am patient enough not to be stupid enough to get myself in any unnecessary debt.
Go on stoke

By Mr G.. Posted January 4 2009 at 2:27 PM.

P*ss up in a brewery comes to mind.
Every time we are unfortunate enough to have a Labour government ;- - the poor old [us] tories are left to clean up for years to come.. This time it looks like many many years to come.

By Paul Davies.. Posted January 4 2009 at 11:08 AM.

I feel the chancelor does not know what he is doing. Keep spending tax payers money and the recession willl worsen. As for th PM he has not got a clue I hope when he tours the country people tell him a few home truths

By Phillip Rowe.. Posted January 4 2009 at 1:06 PM.

Simple rule: when you are a hole and want to get out stop digging.
Giving out government money (ours) to third parties and then we get charged for this with added tax? Hello Mug he's thinking, step this way

By Danny.. Posted January 4 2009 at 1:04 PM.

All this would be laughable if it wasn't so tragic. The only hope is for Brown to panic and call an election. But then as an unelected Prime Minister he will probably just hang on for as long as possible.

By Simon Marshland.. Posted January 4 2009 at 11:44 AM.

so gordon is going to save the world again and our country with thousands of jobs! he has been bleating for the last ten years that is exactly what he has been doing so why are we in this position?i will tell you he was one of those who supported the banks to lend lend and lend again, he is only covering his tracks for the last tenyears of con lies and propaganda by this dictatorial government, the sooner we get rid of this dictatorship the better.

By andy.. Posted January 4 2009 at 12:15 PM.

This idiot failed to make the banks pass on the borrowings the last time. The sheer GREED of the banks is to blame for this whole bloody mess we are in, and yet we, the taxpayers are still bailing them out, and yes, all their bonuses and Christmas bashes should have been cancelled as a "thank you"

By Julie.. Posted January 4 2009 at 10:25 AM.

Why are we bailing the banks out again, has our government forgot that the banking systems of the world created the problems we have today. They still have their big bonuses and the elaborate christmas parties and their JOBS while the general populas suffer. It time for the government to take control of these financial institutions, stop the big bonuses and get rid of the high paid CEO,s and take the lead for our country.

By pfd.. Posted January 4 2009 at 9:32 AM.

Absolutely wonderful logic. Bail out the banks with 'collected tax' so that we can all borrow it back and pay again in interest.
What an 'innovative' idea from our brain-dead government

By John Newman.. Posted January 4 2009 at 9:03 AM.

"announcing new plans to get people back to work" Where are these jobs coming from,out of thin air?With everywhere closing down will someone please tell me what these jobs will be!!

By Joan.. Posted January 4 2009 at 6:55 AM.

This utterly stupid as before Christmas a lot of banks gave out their annual £1 million bonuses to their staff and had very expensive christmas parties for their top staff.

Considering we are in recession which THEY caused, their bonuses and parties should have been stopped and money recovered from them to pay some of the debts they got them selfs in to..... but this was never done.

Next to paying rent on buildings, wages are the next most expensive things in a firm.

The banks top earners are sucking dry what ever financial life the banks have left in them by taking huge salaries and bonuses.

These people should be first on the list to have their wages frozen or cut and thus reduce the financial pressure put on the banks to keep their heads above water........ these "top people" also don't deserve such huge rewards as the mess they made is effecting EVERY one.

By scrumbow.. Posted January 4 2009 at 4:08 AM.

Brown's policies have not worked and he and Darling have no other idea than to throw more money, that the country has not got ,at the problem.
Brown thought he could fool people into believing that he knew what he was doing and it worked for a while, but now the reality is clear as unemployment is rapidly rising along with bankruptcies and repossessions and the pound has gone down the pan, he hasn't got a clue!!.
He is still just the say anything, achieve nothing, incompetent Prime Minister we thought he was before this crisis. Roll on the election.

By jim.. Posted January 4 2009 at 1:17 AM.

I am soooooooo glad I deserted the sinking ship of Britain!

By Julian Clark.. Posted January 4 2009 at 1:28 AM.

Do these two idiots have any idea what they are doing? It would seem that they are getting the country deeper into debt with no practical suggestions to combat the current financial situation. Lord help the next government who will have to sort this unholy mess out.

By Alhambra.. Posted January 3 2009 at 11:36 PM.

This guy is a small time country bumpkin solicitor and is not fit to hold one of the grand offices of state in the UK...

He should have let RBS and HBOS go bust letting the major institutions wear the pain...not the taxpayer.

Megabank from somewhere would no doubt wish to buy the real business of the two banks and not the gambling/speculating section run for the "boys bonus fund"

By willie.. Posted January 3 2009 at 11:07 PM.

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