[andyman]

We gotta keep the banks afloat.. They are dumping their bad debt into a government bad debt bank.. This will build trust with banks to lend to each other which will slowly lead to credit for companies, the public.. Company credit is vital! This will take years to get back to pre-credit crunch days. Yes we can blame the banks for this but we all went along for the ride on the 10 year credit binge...
There was many problems and credit cards have a part to play.. You spend £100 on your credit card, the company that gave you the credit sell that to another bank as debt for around £125/£150.. Its all fair and is done with home loans, car loans etc and keeps the credit wheel spining..