Bank bail-outs to be kept secret

You’re still thinking that the world will get passed the coming collapse, fat chance.

The Bank of England has imposed a permanent news blackout on its £50bn-plus plan to ease the credit crunch.

Bank of England
‘Lesser of two evils': The Bank of England will guard the names of credit-crunch banks with unprecedented levels of secrecy.

Ferocious and unprecedented secrecy means taxpayers will never know the names of the banks that have been supported through the special liquidity scheme, which was unveiled by Bank Governor Mervyn King last week.

Requests under the Freedom of Information Act are to be denied. Details will be kept secret even after 30 years – the period after which all but the most sensitive state documents are released.

Any Bank of England employee leaking the names of institutions involved will face court action for breach of contract.

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