[P2P-F] Fwd: uk - banks : where-did-our-money-go , pdf, NEF

Thu Mar 3 07:06:13 CET 2011

---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
Date: Thu, Mar 3, 2011 at 12:17 PM
Subject: uk - banks : where-did-our-money-go , pdf, NEF
To: econowmix at googlegroups.com, hc_ecology at yahoogroups.com,
sustainable_solidarity at yahoogroups.com

http://www.neweconomics.org/publications/where-did-our-money-go

excerpts :

page 8 of pdf :

*Public sector support for the banking sector amounts to at least £1.2
trillion*
*committed, equivalent to 85 per cent of GDP – the highest level of any*
* comparable economy.*
*
*
page 2 :
*
*
*
Based on Bank of England data, banks now appear to face a funding cliff. In
order to maintain existing levels of activity they currently have to borrow
£12
billion a month; the projections we reproduce in this report indicate that
in
2011 they will have to borrow £25 billion a month. We believe the public
sector is likely, once again, to be asked to bail out the banks for
the emerging funding gap.

*

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