Quote:
Originally Posted by Ignitionnet
The Tories are the ones carrying on the trend, and telling us that the various pro-bank policies and BoE's low interest rates and further QE that are ramming inflation up our backsides are a good thing.
I blame the Tories because they, not Labour, are in government now. They've had over a year now which is more than enough to amend things, as it is they've stalled structural separation of banks and continued to act as the City of London's bitches.
New Labour started the trend, doesn't mean it had to be carried on by Blue Labour. Rather than making the City suffer for what it did, prosecuting fraudster bankers, etc, they've allowed the FSA to keep the conduct at RBS secret, done nothing to push a bank we own the majority of to get its act together, and are about as potent as a man with irradiated testes.
http://blogs.telegraph.co.uk/finance...a-and-ireland/
http://blogs.telegraph.co.uk/finance...about-the-fsa/
http://blogs.telegraph.co.uk/finance...unt-over-atms/
RBS - £45bln in direct cash support, £100bln in loans and insurance, over 10% of the entire national debt, and they are giving RBS yet more created money to try and 'encourage' it to lend to businesses. Stuff that, we own them, they do as they are told. |
I will say it again ,take the banks out the picture.
Government wants money lent to business to stimulate economy.
Normally they want banks to do it and bank makes profit from interest.
Banks refuse to give out enough loans to keep government happy.
Soltion tell banks they no longer allowed to lend money to anyone as they been too picky, government directly lends to businesses or the BOE does and they do so at base interest rates or interest free even, take profit out of it.
Banks cry and cry, tough luck just go back to securing deposits.
That 100+billion welfare handout to the banks would have gave a far bigger stimulas if going direct to the population however I do respect it also probably would have pushed up inflation but thats going up anyway regardless.