Another boost to loans for busineses?

http://www.guardian.co.uk/business/2012/jun/14/debt-crisis-emergency-measures-mervyn-king

In a joint proposal between the Bank of England and the Treasury, banks will receive cut-price funds provided they pass on the benefits to their business customers.This new "funding for lending" scheme could provide an £80bn boost to loans to the private sector within weeks and alleviate growing fears of a second slump since the start of the financial crisis in 2007.

These people have been trotting out "new measures", or numerous variations of them for more than 2 years. Always, the objectives are to boost business and "get the banks lending". The results are invariably the same.The additional funding goes into the banks' balances and reserves, businesses bleat about being unable to invest, more small businesses cease trading due to lack of funding, and then the banks announce increased profits and their executives are awarded nice fat bonuses. The incredible thing is that many people in this country actually believe that these morons are doing a good job for the benefit of the whole economy.

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