Saturday 2 May 2009

Banks to lend to the Government

John Redwood MP
"Under new “liquidity” rules the main banks are going to have to lend loads of money to the government. Convenient that, for the government, at a time when it is short of a pound or three. .....That is not the way to strengthen the banks, or return them to health. That is a cheap way to finance the government deficit, at the expense of a dear way for the taxpayers to be running their banks. In the end taxpayers pay both lots of bills. So who do the government think they are fooling?

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