Peston's blog touches on the the sickness prevalent in corporate Britain. He notes that quite a lot of small to medium companies are in better positions - financially - than the bigger corporations. I can agree with that, I was just two years ago in one of those small businesses. In the good times, the Banks have not been falling over themselves to help small businesses - despite their advertising - and many of the businesses have learnt to look after themselves.

We have allowed the financiers, the venture capitalists and the private equity firms - many foreign owned to buy up all our big national corporations with lots and lots of borrowed money. And the more problematic the sector, the more borrowed cash has been required to finance these take-overs, the mergers and all the other fancy company financing deals. We will live to regret this folly.

Read the blog entry at Can Darling kickstart lending? It is, as usual, very good.

[First published on my NotTheNews blog on specified date]