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April 22, 2013

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Nuno Edgar Fernandes

Interesting piece this one! I wonder about its authenticity but it's not hard to imagine this to be true. If lending is not lending for Productive Ventures, Investment that creates wealth and Jobs, then it is another waste of resources and Time.

Andy Miller

It just proves the only measure worth a damn is real net lending and not net facilities opened and most definitely not Gross. The BoE stats show the net figures and they continue to chart the decline. The scheme has had time to bed in but just look at the December figures.

Does anyone know why the government chose to allow the banks 5% of their existing book at the give away rates before requiring any increase in business lending?

Chris Skinner

Nuno

The conversation is 100 percent authentic

Chris

On banks dumping ties to dodgy corrupt practices... (Iang)

And the guy is likely out of a job (although perhaps his manager should be).

No matter. If you look at the big picture, it is pretty singular. The banks are undercapitalised. The central bank (or whoever can't pass on the responsibility today) has one and only one prerogative:

Re-capitalise the banking sector.

Every programme is bent to that aim, by hook or by crook. If you look at all the QEs, they all hand a huge lump of cash from public to banks, so as to allow them to inch their way up, as a group, to better capitalisation levels. By various means, but that's unimportant.

Big picture. It will likely take a decade. What's the alternative?

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