*!*King Hell

Mervyn King - D'oh!

Mervyn King - D'oh!

Mervyn King, the Governor of the Bank of England has said that despite giving the banks an additional £75Bn he  “can’t guarantee that it means that bank lending will rise..”

Surely that should have been a condition of giving them the money in the first place.

If the money had to be pumped into the economy it could surely have been better spent by giving it to us.

I can’t work out how much each household/person would have got and there would have been some disagreement about who got it but it would have meant that families could have paid off loans / covered themselves for the next few months / maybe even have spent some to help the economy get back on it’s feet.

One thing I do know is that the money is now sitting on banks balance sheets, no doubt earning directors even more bonus money.

This is precisely the sort of thing the ‘Occupy’ movement are making a stand against and there is no way anyone can justify it.

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