Something you need to know.. That crap they told you about a "market economy?" That was what it was – crap. Since the Great Depression the government has been in up to their ears in socialism. Not just the UK, not just the US, but just about every country in the world.The theory is that these loans are worth 10% of their face value. They will never be repaid. But no one knows who is holding how many of them. So no bank wants to loan to another bank and find out that the 2nd bank is really insolvent… due to a pile of bad debts. So no one is loaning any money to anyone until they find out where the "toxic" debt is hidden.
The government could go after the debtors but they don't want to do it. It looks bad in the newspaper..

 

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