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    Mervyn King says there might be unless the global economy is rebalanced. I think Dominique Strauss Kahn - head of the IMF - has said something similar. The fear this time is that the public wouldn't stomach another bailout, the Banks would collapse and the global economy would go into meltdown.

    It might seem unbelievable, but it would appear the City has gone back to its bad old ways. There is going to be one almighty fuss when the Commision for Banking Reform reports. Could the City and Bank of England go to war with each other?
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    Its inevitable banks and other large financial instiutions like insurance companies will fail again. The reason is they have shown they are more powerful than nation states so they know they have a direct line to taxpayers' money. Banks now have no fear of collapsing and they can do what they want.

    We have seen how the whole of Ireland's population is being made to pay for the gambling debts of a few people in a few banks.
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    There will probably be another global economic meltdown before the end of this year. I fear the consequences political wise if it does happen.
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    I think that if things dont change and financial institutions change then yes it will happen. Last time people took massive risks and passed them on to other companies. The same could easily happen again if there isnt regulation
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    If it all happens again I suspect there would be another bail out, but this time SURELY there would be more political will to change finance.

    My biggest concern would be the US. I honestly think a lot of Americans would happily let the economy sink rather than have another bail out, particularly under Obama.
 
 
 
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