As small businesses complain that banks have been useless so far in the crisis, is the City missing its chance to atone?
Reluctance to comply with emergency loan package compounds unfavourable image
The oddity being this thought that the retail banks – which is who deals with small business – are part of The City. The City being the wholesale markets. Where the retail banks do gain their own financing, sure, but they really are retail, not wholesale, and thus part of the financial sector which is not The City.