Quite agree with the main thrust of the article and the principal shown here in Germany
Tim explained: "In Germany, for example, borrowers are told which lenders will accept them, at what price and the size of the loan and they compare all the offers from all major lenders before they make our choice."
POTENTIAL PROBLEM
My understanding is that under the care and guidance of "Prudence" aka Gordon Brown personal borrowing per person is by far and away the highest in Europe and is only behind the US. Germany is far lower and I think credit cards are hardly used in relative terms. I have seen here on ms and the media an attitude from a reasonably large number of borrowers when they get into trouble of "Yes I suppose I am to blame but they lent it to me".
Any bets on Brits in a post German environment embracing this policy as a leisure pursuit - let's see what we can get? Whoa, forget a monster telly, I'm buying that empty cinema?