Joined: 05 Feb 2006 Posts: 2533 Location: Edinburgh
Posted: Thu Oct 09, 2008 4:45 am Post subject: 500 billion?
Yeh! Our financial rescue package is bigger than the USA and we're only a little country. I think ours will convert as about 900 billion dollars and the USA one is only 800 Billion. When the UK decides to rescue banks we don't mess about with little money.
I got worried when the taxpayer was asked for 25billion to rescue a bank but 500 billion is too big to worry about. I think they've worked it out as about $35K per person. Yeh no problem. Hope it works as otherwise the country goes bust.
This must be the biggest financial rescue in the world so far.
Joined: 05 Feb 2006 Posts: 2533 Location: Edinburgh
Posted: Fri Oct 10, 2008 4:33 am Post subject:
It's a funny difference between the USA and the UK.
To pass the $800 billion rescue package congress had a torrid time with people arguing and cursing and in the end it took two votes to get it passed.
In the UK to pass a bigger rescue package there was little arguing and people just went with it. £500 billion? Yeh whatever.
The USA system sounds a lot more like democracy and reality to me. You're supposed to question when there is so much money at stake. Hopefully we know what we are doing though.
Poor Iceland. I think it owes a lot of money to a lot of governments and it's only a country of 300 000 people.
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