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Is £37 billion too little to save the banks?

It has been claimed that the £37 billion which has been set aside to recapitalise RBS, Lloyds and HBOS may actually be too little too late. The comments have been attributed to John McFall who is the chairman of the Treasury Select Committee which has been so prominent on the TV over the last few months.

They ridiculed the directors of Northern Rock and tried to make Mervyn King squirm under constant harassment and criticism when it was his time to face the music. These are the unelected powerful elite of parliament who have been known to ask the most basic of questions while trying to give the impression they know exactly what they are talking about. But can we take their recent comments for real?

Time will tell whether the £37 billion bailout is enough for the three banks in question but it is no coincidence that Mr McFall has not had his name or his face in the press for some time. Is this yet another set of MPs trying to make a name for themselves at the expense of those currently in the headlines or do they actually know what they are talking about?

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