sharon sanders
Editor-in-Chief & President
Obama Signs Sweeping Financial Bill Into Law
11:14pm UK, Wednesday July 21, 2010
James Sillars, Sky News business producer
snip
"There's certainly a concern, in both Washington and London about the dearth of credit for business and I think that both here and in the States there's a real issue about whether if you clobber the banks too hard, whether you actually stymie the recovery."
"There's a green paper coming out here next week, which George Osborne and Vince Cable are going to put out, about banks.
"And it explicitly says, as far as I'm aware, that there is a risk of the economy going back into a recession unless we actually get the flow of credit going.
"Because you've got to remember that we've already got plans for a big fiscal tightening, with money being taken out of the public sector.
"The private sector has to be in a position to take up the slack and they can't do that without money and the flow of credit is vital for that to happen."
http://tinyurl.com/2dlylrt
11:14pm UK, Wednesday July 21, 2010
James Sillars, Sky News business producer
snip
"There's certainly a concern, in both Washington and London about the dearth of credit for business and I think that both here and in the States there's a real issue about whether if you clobber the banks too hard, whether you actually stymie the recovery."
"There's a green paper coming out here next week, which George Osborne and Vince Cable are going to put out, about banks.
"And it explicitly says, as far as I'm aware, that there is a risk of the economy going back into a recession unless we actually get the flow of credit going.
"Because you've got to remember that we've already got plans for a big fiscal tightening, with money being taken out of the public sector.
"The private sector has to be in a position to take up the slack and they can't do that without money and the flow of credit is vital for that to happen."
http://tinyurl.com/2dlylrt