A new scandal has emerged - banks are accused of attempting to make a profit. Who would have thought?
Banks have made massive losses and are desperately short of capital. Is anyone really surprised that all the Bank of England base rate cuts have done is allowed them to increase their margins on new products? They have been promised as much taxpayer cash as they need if things go wrong, so why not attempt to make an easy pound or two?
After all, if the customers abandon you, Gordon will be there to help you out.
Tuesday, April 14, 2009
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