What is going on at the Bank of England. There is no doubt that this is a difficult time for the economy but BoE seems to have taken a leaf out of Saddam Hussein's crazy PR spokespersons training manual and decided that if they just tell people things are ok, the economy will recover.
The BoE has tried to encourage the big banks to relax their lending policies and kick start the housing market, even took them to breakfast with Gordy, but still the banks won't budge. BoE then thought it may be easier if they pump more money into the economy by way of a Ã‚Â£50bn loan to banks should they need it... to no avail.
So, faced with the prospect of a slowing economy the BoE thought the best bet was to try a Jedi mind trick on the UK population by simply putting out a statement saying the economic slowdown is over!
So, there we have it... even though no bugger can get a mortgage, loan or credit card... fear not, because the good old Bank of England has proudly announced everything is going to be alright!
Bank of England's credit crunch spokesman