Bank of England Bailout Kept Secret Forever

£50 billion later:

Requests under the Freedom of Information Act are to be denied. Details will be kept secret even after 30 years – the period after which all but the most sensitive state documents are released.

Any Bank of England employee leaking the names of institutions involved will face court action for breach of contract.  Even a figure for the overall amount advanced will not be published until October. Meanwhile the Bank is expected to issue at least £50bn of Treasury bills to banks in exchange for their mortgages – entirely in secret. This hypersensitive official stance is thought to be a response to the events of last year when a huge stigma was attached to any lender suspected of going to the Bank for cash help.

Published by Andy

Gay Hoosier Taurus INFJ ex-playwright pianist gymbunny published author in San Francisco.

One reply on “Bank of England Bailout Kept Secret Forever”

  1. “entirely in secret”

    Well…not that secret, since we all know about the £50 billion, but I know what you mean. Stoopid really, cos now they’re all talking about rights issues…which won’t be secret anyway.

    We’ve known for years that our coverment…ooops, Freudian slip there!…government are a bunch of cringing cowards who do whatever big business tells them to.

    It won’t make any difference. It’ll still crash. House prices now starting to drop year-on-year, etc.

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