Home > Great Britain > UK BANKS ARE THE PROBLEM!

UK BANKS ARE THE PROBLEM!


Having got us into a fine mess; British banks are proving very unhelpful. Many companies closing down with subsequent job losses blame the fact that their bankers are not supplying credit, even short term credit or if they do at inflated costs. UK bankers have proved to be partly responsible for the credit crunch which originated in the USA. The Tories and some of the Tory press still peddle the myth that the crisis was caused by Gordon Brown – this is sheer nonsense and fantasy. Fortunately, most people know how this credit crunch arose and they know that Gordon Brown is not to blame. Government should formally nationalize a bank or two, with the right people in top jobs and lead the way by freeing up loans at reasonable rates of interest.

I would like to see a more aggressive fiscal stimulus programme and large scale public works programmes need to be started. So far we are only seeing mild remedies not serious public investment.

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