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Wikileaks: Banks were insolvent as of 2008. As in : broke. [View All]

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Home » Discuss » Topic Forums » Economy

dixiegrrrrl

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Sat Dec-18-10 08:18 PM
Original message

Wikileaks: Banks were insolvent as of 2008. As in : broke.

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Which a lot of us pretty much figured, back then.
And now.

Monday, 17 March 2008, 18:27
C O N F I D E N T I A L LONDON 000797
SIPDIS
NOFORN
SIPDIS
EO 12958 DECL: 03/17/2018
TAGS ECON, EFIN, UK
SUBJECT: BANKING CRISIS NOW ONE OF SOLVENCY NOT LIQUIDITY
SAYS BANK OF ENGLAND GOVERNOR

King suggested that the U.S., UK, Switzerland, and perhaps Japan might form a temporary new group to jointly develop an effort to bring together sources of capital to recapitalize all major banks. END SUMMARY

http://www.guardian.co.uk/world/us-embassy-cables-documents/146196

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