Sometimes you just have to shake your head about the Brits. The British government today threatened the country's banks with "punitive taxes" if they fail to "meet lending goals set by the government". So let's examine this. It's not bloody likely that the banks are failing to make loans that they think will be profitable. Ergo, we have to presume that the loans not made are being declined because they are too risky to be profitable. So the government is saying that if the banks fail to operate in such a way as to lose money, they will tax away whatever money they do make.
Didn't the Brits watch what happened when the US government incented US banks to make shaky loans in the sub-prime mortgage market?
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