Americans may be angry with Banker Bail-Outs but the UK Gave them £1.4 trillion. The whole Economy.

[TheBigotBasher]

That by the way is the size of the UK economy. Through guarantees, loans and buy outs the total amount given now represents 100% of the economy and these figures were not even included in the budget.

Government Pledges

Commitments include 526.5 billion pounds of asset insurance, 250 billion pounds to guarantee bank lending and 154 billion pounds to take on the liabilities of nationalized banks Northern Rock and Bradford & Bingley Plc.

The government also loaned the Bank of England 185 billion pounds to finance a special liquidity program for banks. In addition, the central bank agreed to purchase as much as 150 billion pounds of assets with new money to lower borrowing costs through so-called quantitative easing.

Other state aid to the industry includes direct investment in U.K. lenders, assistance for customers of Icelandic banks and the bailout of Dunfermline Building Society.

The 1.4 trillion figure doesn’t count government pledges to stimulate the economy.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a0_DlDun684Q

How much could have been done with that money?

Well at least if they do not have it they can not spend it on ID cards.