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Break up the banks to restore lending and revive the economy from the bottom up, says think tank

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Break up the banks to restore lending and revive the economy from the bottom up, says think tank

Economic rescue efforts - including quantitative easing - will not work until the fundamental problem that Britain’s banks have become "unfit for purpose" is addressed, says nef (the new economics foundation).In a report published today, Tuesday 10 March 2009, - the day the British Bankers Association chief is to answer to a parliamentary investigation of banking supervision and regulation1 - nef argues that the shift in the shape and business model of banks over the last generation helped both cause and perpetuate the present financial crisis.


By NEF, UK.


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