BUSINESS

City slickers stake billions on UK going bust

TAGs: city bankers, hedge fund, uk going bust

bankers bank billions on UK going bustThey say you should bet with your head, not your heart. So perhaps that is why city bankers have set up a small band of hedge funds wagering on the UK going bust. When I say small band of hedge funds, the amount that has been staked so far is $3 billion – but then I suppose that’s small beer compared to the sums that have already been flushed down the pan by London’s so-called finance experts.

According to the attached article, this gamble will also fail, largely because there are other European countries further down shit creek than the UK, due to the weakening Euro. Looks to me like they should have just taken the cash down to the casino, where they might have spunked it all anyway, but at least they’d have had a bit of fun on the way. Read more.

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