To what extent would you criticise the commercial banks in the UK in the financing of UK industry?
Does anyone have any suggestions or places I can look to help me with this statement
Public Comments
- why would you believe that it is the mission of the banks in the UK to finance UK industry? I thought the mission of the banks was to facilitate the flow of money through the economy as needed and provide a safe parking place for people's temporarily excess funds. the operative word here is "safe". financing industry that isn't quite safe simply shouldn't be done by the banks -- that's what the City is for. certainly, there have been banks which ignored that idea for as long as banks and the City have existed. They usually come to grief about it after making a series of bad decisions, too -- which is why the banks shouldn't be financing UK industry willy-nilly but should be very careful indeed to make only loans which will recover their depositors' funds. [Northern Rock seems to have forgotten this, haven't they?]
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