One of the big pieces of news that has to do with the fallout from the subprime mortgage market crash is that the Bank of England just introduced its own bailout plan for banks in trouble.

It just goes to show that the US isn’t the only country struggling with housing market problems right now. Indeed, the British housing market is down. And it doesn’t help that many British borrowers had subprime loans.

Not only that, but many of the banks having problems due to the subprime mortgage market crash  are banks that had invested in US subprime mortgage-backed securities. Double whammy.

At any rate, many in Britain are as unsure about how helpful the BOE plan will be, just as there is skepticism over Federal Reserve efforts here.