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Global Contagion-UK Banks Need Capital-RBS, Barclays, Lloyds

October 7, 2008 By Bill Rice Leave a Comment

The bad part of globalization, Global Contagion!

UK banks, RBS, Barclays, and Lloyds TBS met to discuss the potential need for 15 billion pounds each. According to BBC reports the banks are not in need of capital “on paper,” but are needing to shore up investor perception of their need for capital and strengthening their balance sheet.

The investors definitely took the news of the meeting and “possible” request for government bailout to their stocks:

Expect another roller coaster ride today on Wall Street.

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Filed Under: UK Banks, Wall Street Tagged With: barclays, contagion, lloyds, rbs, UK Banks

About Bill Rice
Bill Rice is a mortgage banking veteran operating in and writing about the mortgage market for over a decade. Bill is the founder of Kaleidico, which provides mortgage banking customers with lead generation and lead management solutions. Prior to Kaleidico, Bill was one of the founding executives of DeepGreen Bank, the first fully automated mortgage lending Internet banking platform and lead similar home equity innovations as the VP of National Home Equity at Quicken Loans. He can be contacted at bill.rice@kaleidico.com.

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