is the right answer

The deals on the table were not good enough, apparently.

All would have involved lots of redundancies, and an acceptance that the £24 billion would take years (read never) be able to be repaid.

The BoE HAD to bail out the bank. No other bank wanted to touch it, so it had no other choice - except of course let it go tits up....and it was the UK's fifth largest lender, so that wasn't going to happen.

Posted By: Stoopish, Mar 31, 16:07:28