Over the last three or four years, a lot of words, both written and spoken (some of them four letter) have been wasted on the subject of the British banking system. We are often reminded that the bankers are to blame for the mess we currently find ourselves in – probably not strictly true, the blame lies more with the spineless administrators who let them get away with corporate homicide on the basis that they were making huge “profits” and were the backbone of our economy. We have even been asked to forgive them their ridiculous bonus schemes, which appear to be based on attending work rather than contributing anything positive.
It is now easier for a Taliban insurgent to get a job as a security guard than for any one individual or company to borrow money from a bank If you want to buy a house, you have to take both great grandparents with you as collateral on the loan, and only then if they were both members of the upper class before the First World War. The “cheapest” loan on the market now means that by the time you have finished completing the paperwork you already owe them more money than Greece.