Even if this was the case, there are many troubled industries which require funding, just as much as the banks, for example, the recent fiasco over at Jaguar Land Rover could’ve resulted in a huge increase in unemployment. Fortunately, Tata Motors stepped in just in time.
Another bank bailout discarded
The British government is talking to banks about stepping up loans to credit-starved companies but a second bailout of banks is not on the cards at present, Prime Minister Gordon Brown said on Sunday.
“I don’t think that’s the first thing that anybody would think about at the moment,” Brown said in a BBC television interview, when asked if the government planned a second recapitalisation of the banks.