December 10, 2008
Brown Vs Banks
Story link: Brown Vs Banks
It’s a valid point from the banks, but one of the main reasons for the cut is so the consumers win big time in the long run, to try and gain some kind of stability within our economy, something that has so far, not worked!
Gordon Brown faces a showdown with banks this week after they accused him of deliberately distorting the arguments over interest rates.
The Prime Minister insisted on Friday that the big high street lenders follow the 1 percentage point base rate cut announced by the Bank of England on Thursday. But his comments have angered the leading banks, which have authorised a public assault on the Prime Minister, in spite of the £600 billion lifeline to the industry by Mr Brown in October.