Much like in the US, good luck with that. There's very little appetite for helping the bankers after their behavior of continuing to reward themselves without real results. It's unfortunate that in all likelihood the only way to reform the financial industry is another collapse in that industry. The industry who caused the recession has proven itself to be incapable of reform or gratitude.
Many British banks may need another state bailout next year and their borrowing requirements could hit 25 billion pounds ($39.4 billion) a month, the New Economics Foundation (NEF) think tank said on Monday.Quite a few US banks have also benefited greatly from cheap credit. They too have conveniently overlooked and ignored just how valuable that was for their livelihood.
The NEF said it had examined Bank of England data and concluded that many UK banks appeared to face a funding cliff, as the NEF published a report on the British banking system.
Royal Bank of Scotland and Lloyds had to be part-nationalized as they ran up huge losses during the credit crisis, and others such as Barclays and HSBC have benefited from cheap credit provided by the central bank.
