This may seem such a contradiction to recent blogs that I have written but I can see the point why the financial institutions hang on to their money. A few of my mates are VC’s and in banking – their view is we have money but…..the ideas and pitches we get are bonkers. Why would anyone risk money in poorly thought through ideas and propositions? I suppose this is a fair point. If an idea or business is not viable you can’t really blame investors and the finance community for backing off.
Having said all this, there are some extremely viable businesses that are facing difficult times – the reality is, none of these entrepreneurs are going to get support without personal guarantees or security. Is this fair? Did any of the Directors of the bailed out banks give personal security?…Individuals like Sir (?) Fred Goodwin – have they lost their house?