Monbiot yesterday

After the British government’s attempt to throw another gazillion pounds at the failing banks, restored market confi…eh… made their shares prices plummet again – RBS (that would be my bank) by nearly 70%:

I was reminded of this when I read the government’s new plans to save us from the credit crunch. It intends – at gobsmacking public expense – to persuade the banks to start lending again, at levels similar to those of 2007. Isn’t this what caused the problem in the first place? Are insane levels of lending really the solution to a crisis caused by insane levels of lending?

Haha. I do like George Monbiot.


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