The Chancellor announces his bank bailout plan, but has no idea how much money will be needed to stave off collapse of the sector and the economy: more. The Telegraph commentator Liam Halligan argues that the rescue has failed, that banks must fully disclose their liabilities and that losses must be written off: more. Ambrose Evans Pritchard calls for a “Biblical debt jubilee” as possibly the only answer, recognizing that creditors will not like it: more. John Redwood MP calls […]

Tags: Banking, CDS, economics, Finance, Market Intervention