Banking behind Housing Crisis - Toby Lloyd
Channel: Positive Money
Date: 2012-04-16

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Toby Lloyd, from housing charity Shelter speaking at Positive Money conference in October 2011.

"We are redistributing money, very effectively, through the housing system, away from the poor towards the rich, away from the young towards the old, and geographically as - away from the poorer parts of the country to richer parts of the country."

"This system essentially generates the sense of unearned wealth - most people who have done wealth out of the housing boom have actually earned more by doing absolutely nothing and sitting on their assets than they have from going to work."

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Positive Money is a not-for-profit research and campaign group. They work to raise awareness of the connections between our current monetary and banking system and the serious social, economic and ecological problems that face the UK and the world today. In particular they focus on the role of banks in creating the nation's money supply through the accounting process they use when they make loans - an aspect of banking which is poorly understood. Positive Money believe these fundamental flaws are at the root of - or a major contributor to - problems of poverty, excessive debt, growing inequality and environmental degradation. For more information, please visit: http://www.positivemoney.org.uk/

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