Fancy That VII
Gordon Brown on off balance sheet finance:-
I think the problem that we got to a year or two ago was that we had so much off-balance sheet not disclosed that a lot of the major banks and institutions didn’t know themselves what their liabilities were.
There’s no doubt that off-balance sheet activities by the major institutions and in the sub-prime market more spectacularly have led to problems for the big institutions
The first thing we have to agree is that the financial institutions will deal with the off-balance sheet activities,
Amount of PFI related, off balance sheet liabilities that Gordon Brown refuses to report in the transparent manner that he urges others to do - £29bn