Oh my…

All those who say that a mutually owned banking system won´t produce crashes and insolvencies like a shareholder owned one.

The building society racked up more than £800 million of high-risk loans and assets at the height of the market, including £650million of commercial property, the value of which has since crashed.

Oh yes?

2 comments on “Oh my…

  1. Then again I do remember someone from around these parts saying that “universal banks being large enough to absorb the losses.” No link. No name. One wouldn’t want to point. 😉

    Tim adds: As, erm, Barclay´s and HSBC have indeed been?

  2. I’m not sure how good Barclay’s position would have been if AIG hadn’t have been bailed out.

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