Time to take Will Hutton seriously

No, really, there will be a time:

Part of the problem is that loans are astonishingly expensive because of Britain\’s monopolistic, risk-averse banks charging the highest margins and fees in the G7.

British banks? Risk averse? After they\’ve just done they\’re damndest to crash the system by taking on too much poorly understood risk?

The time to take Will Hutton seriously will be when he stops saying such damn fool things.

2 thoughts on “Time to take Will Hutton seriously”

  1. C’mon Tim, British banks are hopelessly risk-averse. The problem is they didn’t understand the risks they were taking on. So they are, in fact, both risk-averse and dumb – this is not contradictory and in fact quite common….

  2. Will Hutton’s slightly truculent emotional ground may be a bit putting off to some, but much of what he says is spot on. Your symptoms suggest infection by the usual financial PR which is surging again now; and that you are in denial of what has gone on, and the consequences, still unfolding – like most of the financial pack.
    See his Observer article 12 July.
    Also pay attention to agn’s points above.

Leave a Reply

Your email address will not be published. Required fields are marked *