They said it could never happen.
If this doesn't make banks lend out the money they have been parking at the Bank of England, nothing will.
The alert among you will notice that banks are in business to lend money, that is how they make money. If they are not lending, it can only be for a very good reason -- they think they will not get it all back again! This doesn't suit the government's agenda though, clearly, so they will force the banks to take on risk that they were not otherwise prepared to. You should expect more economic misery and bank bailouts in the future as a result of this government mandated policy then. Nice going guys! Idiots. :-\
Monday, 7 September 2009
Negative UK interest rate?
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