Spot the contradictions: Part ???


P-L-E-A-S-E can someone help me? I feel so confused and tired out by all of this (not for the first time). How long are the British electorate supposed to keep on swallowing this stuff…maybe I am not the only one confusing Financial Services Authority with Food Standards Agency!

Here are some current/recent headlines:

Banking sector’s position on business lending contradicted by new evidence, says IoD

  • 1-1609-iceberg_large200New IoD data shows that nearly 60% of businesses seeking bank finance in 2009/10 were rejected by their bank, and that 20% are financing their businesses to some extent with Credit Cards.

Lloyds and RBS ‘failing to lend’

  • …The legally binding commitment was made by the two banks in exchange for taxpayer support received in 2008.

We aren’t just stakeholders but shareholders in these businesses and, IF the IoD research is to be believed (I have no doubt that it can) there are perfectly good businesses out there, that hold the key to our recovery, being starved of funding.

In the meantime they are happy to tackle, comparatively, low level “white collar” crime.

FSA issues record fine for insider trading

  • It fined Mehmet Sepil, chief executive of Turkish oil firm Genel Energi, £967,005 for dealing in Heritage Oil shares using inside information.