Sunday, January 11, 2009

Time for the mutuals?

Saw this earlier - I was going to post on it but Tom has done so - far more effectively than I would.
"There must be a challenge put to investors that they failed to query the irrational exuberance that we now see as characterising the age of irresponsibility. Now there's a danger of 'reckless caution', and I don't see evidence they are much concerned about that either. If banks now lack the self-confidence to extend credit, this is going to cause further damage in the portfolios of our institutional investors."

Time for a re-emergence of mutuals - or it would be, if the chips weren't so loaded against them.

Time for Labour to do something on this front, perhaps?

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