For The Love Of Money

Here’s a question for everyone:

If the Royal Bank Of Scotland is able to announce profits in excess of £10 billion, even after writing off over £2 billion in the wake of the recent sub-prime lending crisis, why has there even been a crisis?

Isn’t the answer just that banks are becoming increasingly greedy and don’t give a damn about their customers?

For example, there was a guy in an item on the tv news last night saying he’d had no problem at all getting a bank to give him a mortgage in excess of 4 times his salary. The “good deal” he’d gotten at that point is due to run out and so he’s shopping around for a new and hopefully better deal. Surprise, surprise! He’s having a hell of a struggle finding any kind of deal that isn’t going to cost him much more than he can afford before adding on all the fees and charges associated with taking out a new mortgage.

Banks seem to think that we are here to be fleeced in order to line the pockets of board members and shareholders. We get charged ridiculous amounts for being sent a letter, going a couple of quid into the red, taking out a mortgage to buy a home and, in some cases, for withdrawing our own money! They get a share dividend increase of 10%!

As a customer of RBS, I hope that some of this massive profit will be used to improve the services available to me as a customer. Maybe they’ll even have the decency to use that profit to reduce their charges and make life easier for any customers who might be in financial difficulty.

Ha! The day that happens, Old Nick will be strapping on his ice skates before beginning his daily commute!


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