--- Doug Henwood <[EMAIL PROTECTED]> wrote:
> The B of E dithered for weeks on the Northern Rock
> situation,
> rejecting a takeover offer by another bank. The
> British gov is now on
> the hook for billions of pounds. It's really not an
> inspiring model
> of anything.
>
> Doug
Is the US bailout more inspiring? In the case of B.S.,
the shareholders of a bankrupt bank got paid and JPM
got its fair share out of the deal. The B of E simply
took over Northern Rock, assuming the risk of its
assets, right? I don't see how the British takeover is
more costly.
Jon
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