Economía marxista para el Siglo XXI


Michael Roberts Blog

At the annual dinner held by the bigwigs in the City of London, British finance minister (still called the Chancellor of Exchequer), George Osborne, gave his ‘Mansion House’ speech.  The meat of his self-congratulatory words was to announce that the 34% state holding in Britain’s largest bank, Lloyds, would be sold off as soon as possible.  He drew back from announcing a similar sale of the state’s 86% of Britain’s second-largest bank, RBS.  But he made it clear that the government would do so as soon they thought they could.  In the meantime, they may well break the bank into two: one good bit with no debts; and one bad bit with unrepayable debts (up to £130bn!) to be wound down.

This ended a week in which the head of RBS, Stephen Hester, appointed by the government to run the bank when it had to be bailed out in the…

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