BANKING WOES

By Jason Moore WHEN is Gordon Brown going to admit that his bank bailout plan has not worked and save the British taxpayer billions of pounds? Many of Britain´s leading banks are in poor shape allegedly as a result of bad management and possibly even greed. So rather than continue to prop-up a failing banking system with tax payer´s money perhaps the time has come for the government to create their own bank. I know the taxpayer now owns a considerable number of British banks but despite all the cash injections and promises they are still in deep trouble. They can´t lend money because they haven´t got it to lend in the first place and the only way out of this enormous financial black hole is for credit to be offered. The Gordon Brown bank could do everything that he wants banks to do; offer mortgages, loans to small business, etc. Perhaps this is the only way forward. And to the failing high-street banks, well perhaps the time has come for some corporate responsibility. If I am overdrawn in my account I get a letter from the bank at once who threatened a whole series of penalties and actions. But if you have a high street bank and you´ve got problems well you just plead with the government and get a nice fat bailout. Is this a fair system? I don´t think so.