Have you? I did not until about 5 minutes ago!
The Rowland Growth Capital Review is a review on whether government intervention is required to help businesses access long term growth finance.
That sounds like buy to let mortgages to me! If the government do intervene then you can be sure I will be asking Gordon Brown for some long term growth finance because I need it badly because:
I WANT TO GROW IN THE LONG TERM WITH FINANCE!
I am sure the banks are aware of this review and it is one of those gentle reminders to privately owned banks to say:
"Yes we know you are a private company and you can pretty much do what you like. However it is our country and we can change the law to make you do as we say!"
Scary stuff. However if our country cannot grow because finance is limited then having a private banking system is ultimately flawed. Forcing banks to lend by changing the law is one measure however I would not be surprised if the private banks pulled out of the market.
Nationalising banks is the only way the government can assure itself that we can grow however that will be awful! Can you imagine trying to get a loan off a government? It will be written by civil servants who are not commercially minded. So we will be left trying to seize on errors made by civil servants to make decent returns.
It will be interesting to see how it pans out. The results from Mr Darling's meeting with the bank chiefs should be aired on tonight's news. Do not miss it!
PS What to be greedy when others are fearful? Speak to my office!
Posted on: 27th Jul 2009