BizJournals Portfolio
Oct 08 2008 7:55am EDT

A Plan That Just Might Work

UK banks just got what many economists here in the US have argued for: a recapitalization of major institutions paired with equity stakes in those entities that accept it.

The market reaction prior to the global coordinated rate cut was mixed, except for one possible bright spot: CDS spreads on British Banks declined.

An anonymous One Credit trader told Reuters:

The first thing I did was email my colleagues at Barclays and RBS to congratulate them on being civil servants now.

That last part is something we'll be hearing a lot more of.


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