REFERRING to the letter “Caution on loan approval” (The Star, July 4), I agree with the author, Johnny Tsen, and support his views on why commercial banks should not grant greater loan access to first-time housebuyers and SMEs.

Tsen, who identified himself as a retired bank executive and worked in the industry for 33 years, thinks that Finance Minister Lim Guan Eng is attempting to tamper with the self-correcting mechanism, or the so-called “Adam Smith’s Invisible Hand” that underpins a free market economy.