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| Name | Economics of Commercial Bank Bailouts |
| Video Uploader | Video From tutor2u |
| Upload Date | This Video Uploaded At 15-02-2020 06:20:21 |
| Video Discription | In this revision video we look at arguments for and against bailing-out the banking system during a financial crisis. The UK government under Chancellor Alistair Darling and Prime Minister Gordon Brown took the decision to launch a multi-billion-pound bail out of the financial system during the Global Financial Crisis which reached a peak in the Autumn of 2008 with the bankruptcy of Lehman Bros in the United States. Four major commercial banks were given a financial life-line although not every bank required one, for example Barclays (later to become mired in controversies of its own). Royal Bank of Scotland (government acquired 84%) – still retains around 60% Lloyds Banking Group (government acquired 43%) – all shares now sold Northern Rock (100% nationalised) – sold to Virgin Money (2012) Bradford and Bingley (100% nationalised - 2010, Bradford & Bingley was renamed Santander UK Total spend on UK bank bail outs estimated at £137 billion, net spend is around £23 billion (Source: 2018 Parliamentary Research Reports) |
| Category | Education |
| Tags | financial economics | financial instability | bank bailouts | UK economy | Northern Rock | Lloyds Banking Group | Royal Bank of Scotland | Virgin Money | A level macroeconomics | government support | national debt | budget deficit | moral hazard | systemic risk | Geoff Riley | economics help | econplusdal |
