When will our establishment and glorified MSM cop-on? Our banks can't lend any money in a true banking-customer relationship i.e. with a bit of risk built in.
Why!
They are up to their tonsils in commercial and retail mortgage loans going belly-up. They have been told that they must pay the bondholders (Asset Covered Securities etc) that funded all the now negative equity commercial and retail property loans.
They can't f.cking lend money!
Some people have been trying to hammer this home for over five years. But the powers that be - don't want to know. The whole airways this morning is full of this crap about the banks not lending to small businesses. Repayments to Bank Bondholders is sucking all the money out of the economy. It is highly unlikely that most small businesses will survive even if they get bank loan top-ups.
Bottom line: we are a nation of slow learners. WTF are all the learned business graduates of our Third Level Colleges at? This is their area! What are they doing about it?
The MSM
They refused an invitation to Joe Dans, where the real news was at. They and the politicians are like lost sheep since.