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US banking shocks impact on UK banking sector

It appears that the sudden demise of the Barclays bank share price in the last hour of trading on Friday was a consequence of difficulties in the US where their banking system has again come under severe pressure. This together with the fact that many UK banks are looking to cut costs in the short term, obtain further funding from the government and basically batten down the hatches yet again would seem to have pushed many investors away from the sector.

The government has already injected hundreds of billions of pounds into the system, taken substantial stakes in a number of UK banks and many experts are concerned about what their next move could be. It would seem to many people that this constant injection of cash into the system and directly into the banking sector is having no impact as yet and there is concern that "good money is being thrown after bad money".

Yet again we are hearing the government is looking to force banks to increase liquidity to both corporate and personal customers but this is what we heard before the initial rescue package and have seen very little evidence of change.

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