UK Hires Entire Economy

Date October 14, 2008

I love this comment from my buddy Andy Busch at BMO today:

UK Hires Entire Economy: In a move that the Onion would love, Britain will increase the number of public sector employees to more than six million for the first time. With the nationalization of banks, here are the new hires: 233,000 staff from the Royal Bank of Scotland, 70,000 from Lloyds TSB, 65,000 from HBOS, 3,035 from Bradford & Bingley, and 6,500 from Northern Rock. Nurses, doctors, council workers, and now bankers are all on the UK government dole.

More on this topic (What's this?)
"State to save HBOS and RBS" (naked capitalism, 10/11/08)
Financial Censorship PR At Work (naked capitalism, 9/19/08)
Game Over? (When Giants Fall, 3/9/10)
Read more on Royal Bank of Scotland, Lloyds Banking Group, Investing in England at Wikinvest

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