UK As our American cousins mark the Thanksgiving holiday, Recovery Watch would like readers to note a few high points of the past week that show we Britons, too, have much to be grateful for.
The standout must be the shocking disclosure that at the height of the banking panic last autumn, the Bank of England was frantically pouring cash into two of the UK’s largest lenders, HBOS and RBS, both just hours away from running out of it. At the peak, this aid totalled more than £60bn and, on top of other aid, amounted to nearly 15 per cent of gross domestic product.
