The Libor rate scandal

[David Johnson]

Your lack of grasp of basic English continues cupcake!

""Still doesn't make it right, of course!"

call a friend to check what the above means.

Secondly you seem to ignore the fact that I welcome the Serious Fraud Office inquiry into Libor fixing and that I welcome a judicial inquiry into the whole issue of bank regulation. You know, cupcake, with those lawyer types you found so fantastic in the Leveson inquiry.

Poor cupcake, so poor at discussion you can only tell lies!!

[David Johnson]

"Sir Mervyn has a lot to answer. Time he went! Always erodes confidence and talks down the economy while providing the banks with more and more cash that they keep. Why can't they lend direct to business. Or set up another bank to do that?"

Agree entirely. He was face down in the lobster soup when the global financial collapse was brewing. He has been predicting inflation coming down for donkeys years and it has only just started coming down.

As for quantitative easing, he is spent ?350 billion under the coalition alone. Money that ended up in the banks and just sat there as far as I can see. It would have been much much better to have just given the money to the population and said "Spend this in the High St." rather than improving banks' balance sheets and feeding investment bankers' bonuses.

The whole purpose of Project Merlin set up a year ago was to set targets for bank lending to small businesses etc. It was a failure so now the coalition is reduced to giving banks money at an incredibly low interest rate on the basis that banks then lend it at a much higher interest rate. Licence to print money or what!

It would be much better if the government used an nationalised bank like RBS to get the money out there.

[Porn Baron]

Yes lets have a national peoples bank. And I believe current and future pensioners suffer because QE makes funding final salary scheme more expensive and reduces the incomes retirees can expect when they cash in their pension pot???

[David Johnson]

Correct. The idea that pensioners have emerged from the recession scot free is nonsense. Anyone with a pension and/or fixed income will have taken a big hit with falling interest rates and rising inflation.