Bank of England Takes First Step to Nationalizing Consumer Credit

Credit in the UK is so broken that the idea of banks being able to submit almost all forms of consumer credit as collateral for liquidity loans actually seems like a good idea to the BOE…read the full article at Minyanville

Feeling Rich vs. Being Rich

Nationalizing the consumer credit industry is one way to simulate a healthy economy. Future administrations can deal with the mess it leaves behind...check out my article at Minyanville:
http://www.minyanville.com/businessmarkets/articles/cofall-bush-tax-cuts-capitalism-government/7/13/2010/id/29129?camp=featuredslide&medium=home&from=minyanville