‘The banks have forgotten the lessons of the past’, says Vince Cable

Lib Dem leader Vince Cable has said that the banks ‘have forgotten the lessons of the past’, as ‘the British economy is heavily dependent on consumer debt’.

‘The worry is not that the banks will crash, but that quite a lot of people who have borrowed will not be able to sustain their payments if the economic conditions change’.

‘The banks have primary responsibility for this, and I do sense some of them have forgotten the lessons of the past’.

‘The more worrying thing is that, a decade after the crisis, a certain amount of complacency is setting in with the industry itself pouring in a large amount of consumer credit, such as car purchase loans’.

‘It’s not sustainable and there could be another credit bubble which could end nastily’.

100 word new by The Hooting Times.

Full story here: http://bit.ly/2uVkemO

 

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

Up ↑

%d bloggers like this: