ML-Implode News - Seven years after the crisis, Britain is still addicted to the drug of debt

It's seven years after the financial crisis and the banking industry is still in receipt of state support -- support that will be available for two more years, and perhaps for longer.
The Treasury and the Bank of England have decided to extend their Funding for Lending Scheme (FLS), which supplies banks with cheap money with the aim of keeping the supply of credit flowing.

What ought, in theory, to be the scheme's final outing will be very specifically targeted at lending to small and medium-sized enterprises (SMEs). This is a sector which is still struggling to obtain the funding it needs at a time when lending to other sectors has largely recovered.

We have the same problem in the US -- all but huge businesses are completely choked off. This pairs well with the overall destruction of businesses in the economy, and ideological push to float the economy through nothing but consumer spending and LBOs and share-buybacks.

Relevant:

Seven years after the crisis, Britain is still addicted to the drug of debt