WikiLeaks: BoE suggested global bank bailout in 08

[sabra]

Source: Bloomberg/AP

LONDON (AP) — U.S. diplomats say Bank of England Governor Mervyn King suggested that Britain, the U.S., Switzerland and possibly Japan bail out the global banking system in March 2008 — some six months before the financial crisis peaked.

In a U.S. embassy cable published by The Guardian on Tuesday, King is reported as telling U.S. ambassador to Britain Robert Tuttle and U.S. Treasury deputy secretary Robert Kimitt that the four countries might form "a temporary new group to jointly develop an effort to bring together sources of capital to recapitalize all major banks."

King suggested the new group would override the "dysfunctional" Group of Seven industrialized nations. But Kimmitt expressed caution about starting new groups because of inclusion debates.

Read more: http://www.bloomberg.com/news/2010-12-14/wikileaks-boe-suggested-global-bank-bailout-in-08.html

[xchrom]

1. guess it wasn't such a 'SURPRISE!' after all. nt

[sabra]

2. another Bush lie, in his new book he said he and his administration were "blindsided"

http://www.usatoday.com/communities/theoval/post/2010/11/bush-im-trying-to-regain-my-anonymity/1

Former president George W. Bush says he was "blindsided" by the financial crisis that shadowed his final months in office, but adds that the Democratic-controlled Congress shares some of the blame.

Congress should have heeded his administration's proposal to more closely regulate the Fannie Mae and Freddie Mac mortgage lenders, the former president tells USA TODAY in his first newspaper interview since leaving office on Jan. 20, 2009.

"The house of cards was built on, you know, risky loans, and I was blindsided by the extent of the crisis," the 43rd president told our colleague Judy Keen.

[xchrom]

3. they had more people than carter's has pill all lined up to say --

we couldn't anticipate any of this stuff.

oy -- bunch of fuckin liars.

[hedgehog]

6. Well, it wasn't a lie exactly. After his failure to understand all

the warnings ahead of 9/11, I think it's safe to say that Bush scores poorly in reading comprehension.

[ronnie624]

4. More important info from Wikileaks.

This is turning out to be much more than just gossip. Setting the record straight on such important issues is always a worthy endeavor.

[McCamy Taylor]

5. Meaning that Bush was the UK's poodle!

[Name removed]

7. Deleted message

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[defendandprotect]

8. Banks play corrupt games -- and then the public bails them out ...!!!