The Truth

[Ken Davison South Wales]

I have followed the bank crisis with interest and I think this article goes to prove just how bloody arrogant they are.

[peter mccue]

I have followed the bank crisis with interest and I think this article goes to prove just how bloody arrogant they are.

 

The arrogance of these people is quite stunning Ken isn't it, hauled up before the MP's they still insisted they'd done nothing wrong & could not be held accountable for the banking collapse. One even insisted he was a victim as well, losing millions off his shares...my heart bleeds for him

 

Incidentally, I watched a BBC commentator actually say on a news program, that everything was being critiscised on the basis of hindsight which makes it much easier to point a finger, his inference was nobody said anything at the time

 

Now maybe it's just me, but I remember lots in the newspapers about critiscisms of 6 times your wage loans, the obscene bonus system, the trillion pound personal debt that the populace had wracked up, the unsustainable house prices etc etc. All were quoted to highlight the fragile nature of our economy. Also wasn't the government warned 12 mths in advance of the Icelandic collapse & chose to ignore!

[Alan Stubbs]

The arrogance of these people is quite stunning Ken isn't it, hauled up before the MP's they still insisted they'd done nothing wrong & could not be held accountable for the banking collapse. One even insisted he was a victim as well, losing millions off his shares...my heart bleeds for him

 

Incidentally, I watched a BBC commentator actually say on a news program, that everything was being critiscised on the basis of hindsight which makes it much easier to point a finger, his inference was nobody said anything at the time

 

Now maybe it's just me, but I remember lots in the newspapers about critiscisms of 6 times your wage loans, the obscene bonus system, the trillion pound personal debt that the populace had wracked up, the unsustainable house prices etc etc. All were quoted to highlight the fragile nature of our economy. Also wasn't the government warned 12 mths in advance of the Icelandic collapse & chose to ignore!

 

 

I loved the question one MP put..."Are you apologising only because that's what your PR agent told you that you should?"

 

As for the personal debt issue, the important word is 'personal'. Just because it's available, doesn't mean you have to avail yourself of it. You can't blame the banks entirely. I'd like to, of course, but in reality the blame is also about personal irresponsibility.

 

The next economy to go west could well be the Republic of Ireland. One economic commentator described it as 'One letter and 6 months away from Iceland'.

[peter mccue]

I loved the question one MP put..."Are you apologising only because that's what your PR agent told you that you should?"

 

As for the personal debt issue, the important word is 'personal'. Just because it's available, doesn't mean you have to avail yourself of it. You can't blame the banks entirely. I'd like to, of course, but in reality the blame is also about personal irresponsibility.

 

The next economy to go west could well be the Republic of Ireland. One economic commentator described it as 'One letter and 6 months away from Iceland'.

 

Quite right Alan, people have to be responsible for their own actions. Years ago though banks behaved in a more socially responsible way, restricting those who unfortunately were not so financially aware as others. I've no doubts they were protecting the banks against bad debts as well. Doesn't produce enough money for the greedy beggars in todays world.

[Alan Stubbs]

Quite right Alan, people have to be responsible for their own actions. Years ago though banks behaved in a more socially responsible way, restricting those who unfortunately were not so financially aware as others. I've no doubts they were protecting the banks against bad debts as well. Doesn't produce enough money for the greedy beggars in todays world.

There are a couple of points there...

 

I am old enough to remember when a Bank Manager was seen as a pillar of the community, nowadays they are a bunch of faceless educational underachievers - based upon the guys I know from school who went into banking beause they didn't get good enough grades to get to university.

What's worse is that banking has become centralised rather than parochial as it used to be - so people as customers have become a credit score rather than humans with their own unique requirements.

 

Banking is almost a metaphor for the government of the country over the last 15 years. It has become progressively centralised and prescriptive - almost a 'one-size-fits-all' style. Which increasingly fits nobody.

 

As you rightly say, all in the name of greed.