'A City analyst estimated that a British version of the US bail-out fund would need to be £20 billion in size to rescue 75 per cent of the country's outstanding non-prime mortgages.' (Telegraph.)
Northern Rock and HBOS (whatever went on and has been promised there), is more than enough.
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Without getting into the ethics (personally I am very wary about bailing anyone out, especially banks who have been making incredible profits for the last ten years) I don't think £20 billion sounds that much. ID cards and Crossrail could easily cover it and not send us into the kind of spiral that the US seems intent on.
Blue, what a choice. Would I rather bail out some more banks or have identity cards?
Would you rather your Dad did a dance in a cafe or your Mum had a row at school?
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