Not all the banks are begging Barclays don’t need bailout

By Stephen Pate, NJN Network, Charlottetown, PEI Canada, January 27th, 2009

US, British and Canadian banks have been standing in line for bail-outs but Barclays of the UK doesn’t want a bailout. When they said so yesterday, the stock shot up 72%. Seems like some banks have been operating like banks and not gambling casinos. They don’t need bailouts. Why are we bailing out the ones that gambled on bad loans? Barclay’s price closed on Friday at $3.09 and opened Monday at $4.91 (NYSE Barclays PLC ADR), Reuters reported ” U.S.-listed shares of Barclays (BARC.L) (BCS.N) surged in premarket trade on Monday, after the British bank said it wasn’t seeking fresh capital. The bank also forecast 2008 pretax profits of more than 5.3 billion pounds, including the impact of 8 billion pounds of write downs.”