Industry NewsNews Brief

Banks in U.K. lend money for ‘anything’

From Global Edge
Published on Oct 21, 2009

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by CareyBot

Banks, under pressure from the U.K. government for not lending enough, are offering "low risk" investors money to buy "anything," according to a fascinating report by London's Evening Standard.

One high-profile individual said he takes regular calls from his bank informing him it is desperate to lend him money. When he asked what for, the bank said "anything." Property, bonds, shares -- it did not matter.

In many cases, investors find the offer too tempting to refuse.

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