<br><br><div class="gmail_quote">---------- Forwarded message ----------<br>From: <b class="gmail_sendername">Dante-Gabryell Monson</b> <span dir="ltr"><<a href="mailto:dante.monson@gmail.com">dante.monson@gmail.com</a>></span><br>
Date: Thu, Mar 3, 2011 at 12:17 PM<br>Subject: uk - banks : where-did-our-money-go , pdf, NEF<br>To: <a href="mailto:econowmix@googlegroups.com">econowmix@googlegroups.com</a>, <a href="mailto:hc_ecology@yahoogroups.com">hc_ecology@yahoogroups.com</a>, <a href="mailto:sustainable_solidarity@yahoogroups.com">sustainable_solidarity@yahoogroups.com</a><br>
<br><br><div class="gmail_quote"><br><div><div></div><div><div class="gmail_quote"><a href="http://www.neweconomics.org/publications/where-did-our-money-go" target="_blank">http://www.neweconomics.org/publications/where-did-our-money-go</a><div>
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<div>excerpts :</div><div><br></div><div>page 8 of pdf :</div><div><br></div><div><div><i>Public sector support for the banking sector amounts to at least �1.2 trillion</i></div><div><i>committed, equivalent to 85 per cent of GDP � the highest level of any</i></div>
<div><i>�comparable economy.</i></div></div><div><i><br></i></div><div>page 2 :</div><div><i><br></i></div><div><i><div>Based on Bank of England data, banks now appear to face a funding cliff. In</div><div>order to maintain existing levels of activity they currently have to borrow �12</div>
<div>billion a month; the projections we reproduce in this report indicate that in</div><div>2011 they will have to borrow �25 billion a month. We believe the public</div><div>sector is likely, once again, to be asked to bail out the banks for</div>
<div>the emerging funding gap.</div><div><br></div></i></div><div><br></div>
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