From the Citywire news feed today:
"New Star's creditors have taken control of 75% of the business in a debt for equity swap aimed at securing the future of the business..." (From an article written by Charlie Parker).
Well, Well. What a clever idea. Shame no-one in Government seems to have heard of it. Might have saved us all a shed load of cash in buying up / bailing out the Banks.
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"Shame no-one in Government seems to have heard of it."
I expect they have, it's just that this would be a *CAPITALIST* solution to the problems, whereas the current government are entirely fascist, sorry Socialist.
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