Bankers caused the crash – now they’re stifling the recovery

Nice article by Polly Toynbe outlining how banks are failing to lend to small businesses and when they do how they charge huge interest rates – of around 15% – while at the same time inflating their profits and continuing to pay out huge bonuses to their chief executives. Well worth a read, although it will depress you.

Toynbe mentions that part of the problem is that, even though we own RBS, there are no hard and fast rules or targets on how much it has to lend to small businesses – just loose promises, which is so unlike the strict conditions you have to sign up to when you take out a loan or a mortgage. Yet more evidence of the Transnational Capitalist Class (Bob Diamond is very much definitely part of this) having too much of the wrong kind of freedom –

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