It\’s one of those things that the idiot lefties love to scream about.
Wah wah, the banks won\’t lend to companies. But we are in Anglo Saxon capitalism, not Rhineland. We rely upon markets more than the Germans do and less upon banks:
In September, UK companies raised £17.3bn of debt through the bond market, compared with less than half that amount in the same month in 2011 as renewed confidence in the eurozone and a backdrop of low interest rates attracted inflows of cash from investors hunting for returns.
It\’s entirely possible, sensible even, to have a debate about which of these two systems is better. But to complain that the banks don\’t lend to companies when in our system the companies borrow elsewhere is simply ignorant nonsense. What matters is that companies can borrow. Which they can.