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Old 03-04-2010, 17:09   #11
Ignitionnet
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Join Date: Jun 2008
Location: Leeds, West Yorkshire
Age: 47
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Re: Mandelson attacks top banker

Just as a quick note the vast majority of QE money went straight to the government, it was used to purchase bonds and finance Labour's spending. In actual fact very little of it went to the banks.

The interest rate being low is not low to help banks but to encourage investment.

Interestingly that same article mentions Mandy's target as foregoing a bonus this year.

I'm not saying it's not obscene, the banks have been helped massively, both directly and indirectly, but certainly Mandy is picking on the wrong target here. Maybe he's upset that they managed to not give the Government a stake as they'd have quite liked being able to control Barclays.
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