Saturday 17 January 2009

Northern Rock used to boost lending.

Predictable eh?

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4273891/Government-will-use-Northern-Rock-to-boost-lending.html

If the government has "recapitalised" private banks to the hilt and those banks insist on acting like businesses rather than charities (imagine that!) then it was only a matter of time before the now publically-owned Northern Rock was used in a desperate attempt to re-inflate the credit bubble.

Laugh or cry? Its your call.

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