Rolls Royce forced to lend to suppliers to keep them afloat

[viking9]

Rolls-Royce yesterday launched a blistering attack on the banks – revealing it has been forced to lend money to its own suppliers to keep them afloat. Despite boasting more than £60billion in orders for its world-renowned engines, the engineering giant revealed many of the small companies which supply it with vital parts and services are being starved of credit by their banks. Rolls-Royce finance chief Mark Morris said the blue-chip company was increasingly being forced to lend money to its own suppliers to help them make ends meet – a situation described as 'lunacy' by campaigners yesterday.

Read more: http://www.dailymail.co.uk/news/article-2219337/Rolls-Royce-reveals-forced-lend-suppliers-afloat.html#ixzz29eCaFnnZ

[Anmer]

Despite all the media and governmental pressure, the banks are a joke.

They've lost sight of their role in adding value by lending money for investment and growth and instead focus on "playing the markets" which is little more than a great big betting shop.  The only difference is they bet with other people's money.