The Catch-22 game of lending in this economic environment is starting to get on the nerves of British Treasury Chief Alistair Darling. With the exception of the Russian solution, most global policymakers remain torn between the two worlds they live in: the one where banks are publicly crucified for reckless and deceptive lending; and the one where banks are publicly crucified for raising lending standards and reducing credit lines. As the British economy continues to contract amid rising unemployment, Darling is not amused by a mysterious phenomenon preying on small and medium size loan applicants.
“I am extremely concerned at what the banks are doing for the small- and medium-sized companies,” Mr. Darling said on BBC television on Sunday. “What companies are being charged does seem to have gone up relative to what banks are actually having to pay because of the fact that we have very low interest rates.”
And with that declaration, the concept of credit risk finally made its way to yet another global financial leader.
Greg strikes again! Ignorance 1 – Pragmatism 0!
You dunderhead – have you any idea what the spreads are these days??
Greggums,
Magnums. Lube. Duct tape. Now.
Love,
Mom
ps: We are having meatloaf for dinner.
@2
You’re an imposter; I know for a fact Greg’s mom only goes bareback.
Duh. Greg – please cruise the Taconic
At least there’s a picture
Susan Boyle is a sex symbol in Britain. Discuss.
“Most global policymakers remain torn between the two worlds they live in: the one where banks are publicly crucified for reckless and deceptive lending; and the one where banks are publicly crucified for raising lending standards and reducing credit lines”
Baby Greg, you’re getting good.
-Your mom.
“And with that declaration, the concept of credit risk finally made its way to yet another global financial leader.”
And yet, with that, the concept of credit SPREADS went entirely over the head of Greg.
Which is exactly what British Treasury Chief Alistair Darling was talking about. Not rates, but spreads.
Please re-read the article, Greg, this time with a clue.
Spreads my boy!