FROM OTHER NEWS SITES
DAILY TELEGRAPH Iran and world powers meet hoping to silence 'drums of war' with nuclear talks - Wed, 23 May 2012 10:22:55 GMT
Iran and world powers meet hoping to silence 'drums of war' with nuclear talks - Wed, 23 May 2012 10:38:40 GMT
FINANCIAL TIMES Morgan Stanley subpoenaed over IPO - Wed, 23 May 2012 11:00:51 GMT
Morgan Stanley subpoenaed over IPO - Tue, 22 May 2012 23:25:24 GMT
BBC NEWS BBC News - Business - Wed, 23 May 2012 10:07:25 GMT
BBC News - Business - Wed, 23 May 2012 09:33:05 GMT
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Banks must come clean on assets
Liberal Democrat Shadow Chancellor Vince Cable has called for lenders to come clean about their bad debts.
Commenting on reports that the Government is considering creating a ‘bad bank' to take assets from the British banks, Cable said: "Before a bad bank can become viable, the banks must first come clean on the value of their assets.
"If the Government gets the valuation of these assets wrong, there is a real danger that huge amounts of taxpayers money could be lost in the long run. It is critical that we do not find ourselves in a situation where taxpayers carry all of the risk without any potential benefits.
"We must not rule out the possibility of further nationalisations as the banks continue to admit serious losses."
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