Darling’s bank talks

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It is good to see that the financial world is finding some security within the fact that Chancellor Alistair Darling took the initiative to suggest setting up a bad bank. Whether this is actually the correct decision; only time will tell.

Darling’s bank talks

Chancellor Alistair Darling’s suggestion that the government may set up a “bad bank” to buy up toxic assets from financial institutions seems to have gone down well in the market.

Royal Bank of Scotland has risen 0.8p to 21.4p – a near 4% gain – while Lloyds Banking Group was lifted 4.5p to 93.2p, Barclays is 3.7p better at 96p and HSBC – which has always maintained it does not need government bailouts – is up 14.75p to 541.75p.