Sunday, July 19, 2009
Missed the point again
True to long term form, David Smith succeeds in completely misunderstanding the current crisis. He still retains the notion that there are credit taps somewhere in a lobby in an office block in the city that just need a good bash with a wrench and a drop of oil to get the money flowing again and - basically - back into the housing market. Didn't the rest of the media already identify about a year ago that this is categorically NOT going to work? He then argues (not very well) that the UK's banks are too small, as opposed to being too big! Why is Smithy so slow on the uptake?