Quantitive easing solved one problem...

Quantitive easing solved one problem, it helped the banks shore up their balance sheets and stopped them going to the wall (plus it allowed them to keep paying fat bonuses). Now there is a threat to the UK banks from a Greek default the governor of the Bank of England has injected 75billion into the banks again.

What is getting me angry, is that he keeps saying that this will help GDP and the economy. That is just an optimistic side effect of helping the banks, if it happens at all. The banks are under no obligation to help the economy, they are getting money with no strings attached.

A direct cash gift to tax payers would have been better, the majority wouldn't have spent it on flat screen tv's like they would have done 2008, we've come a long way since then.


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