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Lenders are taking the mickey and should be controlled

I was absolutely astounded to hear Bank of England governor Mervyn King say that it may be necessary to encourage banks to start lending to small businesses and home buyers again. What was that?

Forgive me for questioning our financial experts but didn’t the government, which I help to finance with my hard-earned cash, recently bail out these institutions with public money?

If any commercial enterprise had received such a massive cash injection they would expect investors to decide how their money should be utilised.

Why are Prime Minister Gordon Brown and Co so pathetically beholden to these lending institutions?

The lenders are acting like Brink’s-Mat bullion robbers. They’ve stolen the money and seem to think that until we can prove it was theft they can do whatever they want.

I am far from being a socialist or a member of Old or New Labour but I am tempted to say we would be better off bringing all the lenders that have received government funding under the control of the Bank on a semi-nationalised basis.

At least then the public would have a certain amount of control over its money and lenders wouldn’t get away with murder.

John Toogood

Debt Free

By email

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