Banks makes huge profit why do they need help now

[sunset92]

Why if all the banks made huge profits last year why do they need the BOE to bail them out - apart from NR obviously.

[dzug]

Did they all make huge profits last year? I doubt it.

And in any case the forecasts are for much reduced profits this year.

[fredpuli47]

The banks don't need the B of E to bail them out now.What they are concerned about is people panicking and starting a run on the bank. The panic would be ill-founded but the consequences just as bad as if it were founded on reason and fact. If the world knows that the B of E will back the banks then the world won't panic and there won't be any run.