We can see that two of the major High Street lenders have not gone to the Government for help so does this augur well for the future, are we going to see a sudden turn around in the market with funds being made available to business?
COMMERCIAL MORTGAGES and FINANCE together with flexible banking is the life blood of businesses going forward with growth and expansion, and with that comes taking on extra staff. Each successive Government has always known that growth starts from the bottom up, with small companies and new starts being the green shoots that are bandied around so much as being the first signs of recovery from a very dark place.
So when our Government poured so much of our cash into the UK banks who began to look as if all the so called experts had ignored all of the rules of common sense and the Banking guide book and acted like the herds of wildebeest rushing into the mouths of the waiting crocodiles, why or why did we not let them go bust, which is what happens to any other business, or impose upon them the strictest possible guide lines as to how some or all of the funds that we have poured in should have been spent?
It does not help business or the Country just to rebuild the banks balance sheets, which could have been overcome by allowing banks to break their covenants for a limited period under very strict control, but start lending NOW.
The people on the boards of our Banks first priority appears to have been to advance their own position and fortune with a complete disregard for the rules under which they are supposed to operate. How can anyone justify the salaries and bonuses being paid for failure, with a golden handshake and a top up to your pension pot when they are finally forced to go?
All our Government have done is put back the very the start of the recovery by denying access to what our businesses need to allow them to grow, COMMERCIAL MORTGAGES FINANCE AND LOANS. How can any business start to think about buying in new machinery or moving premises when the main artery of cash flow has been cut off? They have to have the confidence to take on additional expense and more working hours and without the strength of the bank behind them, they are unlikely to make that giant step.
We are back to the bad old days of the eighties and early nineties with banks calling in overdrafts in the certain knowledge that what may have been a very good business will now have to close because the access to COMMERCIAL MORTGAGES AND FINANCE is being denied. Wake up grey Gordon, if you are the leader of this Country then start leading. A certain line from one of the greatest leaders this country has ever had, Winston Churchill may help you.
“It is no use saying, WE ARE DOING OUR BEST. You have got to succeed in doing what is necessary.”
And I will say it again for you Mr Brown, unless you get our banks lending and lending NOW, with access to COMMERCIAL MORTGAGES FINANCE AND LOANS, we will not be going forward. The question is, how much further back do you want to go before the penny drops?
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