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12 October 2008

BBC herald the "death of Thatcherism" as Britain's banks look set for 40 billion handout

Robert Peston, BBC Business Editor, has pronounced that today marks the Death of Thatcherism. Four of Britain's high street banks (RBS, HBOS, Lloyds TSB, Barclays) are expected to take up to 40 billion from the UK taxpayers as capital injections.

How the mighty are fallen! And how appropriate that one of the few who have lost their jobs is Sir Freddie Goodwin of Royal Bank of Scotland. He was one of the Bankbuster "bankers of the week" last year when he told us how banking was a tightly regulated industry and customers had not complained much about bank charges – see banker of the week.

See Peston's blog on the BBC website.

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Published and promoted by Bob Egerton, TR2 4RS