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The financial reckoning

This link more or less explains the full scale of the debt problem in the global financial crisis. The important line in Robert Peston’s report concerns the extent to which governments have ‘mortgaged’ future revenues from national taxation  to prop up financial institutions now. These banks and insurance houses are the ones which have acquired vast debts and liabilities through reckless and apparently unregulated lending.
Royal_Bank_of-Scotland_cartoon_ about_the_UK_national_piggy_bank

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