October 1, 2008 As big banks splutter, a new borrowing model must shift into gear Carl Mortishead: World business briefing To a treasurer working in a large industrial company, the big banks look like Hummers: overweight, oversized and overengineered vehicles that no longer can afford the fuel that keeps them on the road. They won't lend to anyone who needs money, so they sit with their engines idling until their tanks run dry, whereupon local kids start ripping off the hubcaps, the wheels and the stereo. Each day there is a government-sponsored rescue, another nationalisation with the shiny bits asset-stripped... ...
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