Project Merlin, a Wizards Sleeve

So the government has done a deal with the banks. It is hailed by the chancellor, but it is a sham. I work for a bank, an effectively state owned one at that. They are cutting jobs and work places as we speak. Yet the big boys are going to get the bonuses now. I'm not. Not a penny. So how does Project Merlin help me? How does it help my colleagues and me?

Project Merlin, the banking deal, is basically two groups of public school types thrashing out a rough deal of increased lending to SMEs and token bonus control and disclosure.

The increased lending of 15% at ono £10 billion sounds impressive, but the economy shows signs of recovery especially in manufacturing so as businesses begin to expand you would expect lending to increase. Further, it is the lack of lending by the banks in the first place that caused the crash so that they have agreed to return to their proper role is not in any way a development worthy of crowing about. That they had to have a big sit down to do it is even worse.

USELESS GOBSHITES.