UK banks to be down-graded?

[rebbonk]

Source : SKY

[dutchman]

The UK government has guaranteed bad loans made by these banks equivalent to ten times the entire UK GDP!

[Spuffler]

If you happened to watch the Channel 4 film "Inside Job", you'll know that US banks were not only lending, but also insuring loans that they knew would end in default, to the tune of 33 times.....yes 33 times....the lenders' assets!!! And guess what? This is pretty much what UK banks did, too.

The only real difference is that the people who perpetrated the fraud in the US are now awaiting trial unlike their equivalents in the UK....who are happy with their bigger than ever bonuses.....