• From The BBC:

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    Alistair Darling: ‘We did not stabilise the banking system out of some charitable act’
    The chancellor is to quiz bank bosses over how much they charge small firms for loans, saying he is “extremely concerned” their rates may be too high.Alistair Darling said the cost of loans seemed to have risen, despite the UK’s record low base interest rate of 0.5%. He told the BBC that banks had a duty to restore lending levels, saying the government did not rescue the banking sector “out of some charitable act”. He has called a meeting with bank executives in Downing St on Monday. ‘Do their part'”The public will not understand it if they [the banks] don’t seem to be doing their part,” he told the BBC’s Andrew Marr Show. “I want them to rebuild their balance sheets… but at the same time, because of the particular circumstances we’re in now, because of the fact we’ve got this recession, we also need them to lend money,” said Mr Darlin…

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    Posted by Jon @ 6:56 pm

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