Liability Brown

Five months after Crash Gordons first bank bail-out, there is now a growing acceptance in the Bunker that it has not worked.

On Thursday, the Treasury is expected to announce plans to form a “toxic bank”, using taxpayers’ money to insure £500 billion of bad debt.



Meanwhile, over the weekend European Union leaders agreed that the emergency IMF fund should be doubled to $500bn in order to prevent the worldwide recession turning into a full scale depression.