Wednesday, 29 April 2009

We need more lending

How can we prop up housing values and keep the economy going with this recent pathetic flow of secured lending. We need to get back to the happy days of 2006, when banks were pumping in ₤30 billion a quarter into the UK economy.

How much have taxpayers spent on UK banks? Is this all we get for our money?


Anonymous said...

I was going to comment based only on your headline. My comment would have been " a hole in the head."

However, sarcasm alert!

Nice post.

AntiCitizenOne said...

No sign of finding the bottom of that lending cliff either.

Must be the M4 figures are not reliable as they are not capturing interbank lending so much as Bank -> SIV patchwork.

Stevie b. said...

You cannot prop-up the un-proppable-uppable.

Anonymous said...

As Stevie b. says. The real wealth isn't there. Even if we did manage to kick off mortgage lending again, there is no way we can continue offloading them abroad. So sterling would drop, net result the same, reduction in import affordability.