IRIS Blogs

Comment from Lindon Sowter-Croll
Time February 25, 2010 at 11:59 am

There is currently a growing level of resentment being directed towards both the high and low profile bankers, much of this as we all know is due to high bonuses despite banks like RBS recently making record low profits.

In my view some of this anger is understandably deriving from a strong disapproval of some of the implications of the “too big to fail” method which almost all western governments have adopted. I agree with most we don’t want to see a repeat of a Lehman brothers collapse happening to another major bank. I simply disagree with the extent in which the government is removing risk from major banks, which acquired this new instability from much its own failings, by providing strong financial reassurance while at the same time leaving the small to medium sized businesses left hanging dry even though as mentioned in the article “the hypocrisy in which we still live – massive increases in bank profits, while six out of ten businesses are still being turned down for loans” does seem to be taking place.

Ultimately this article highlights for me the clash between the high level special interests joined by government’s intent to maintain the international status as one of the major financial capitals of the world and the interests of small businesses, primarily those operating within the private sector.

Interesting Article, I look forward to reading more like it.