| Topic: | Supreme court backs bankers | |
| Posted by: | George Knox | |
| Date/Time: | 27/11/09 12:02:00 |
| Alan We have been told countless times by government that it would have been too dangerous to let say RBS go. I think we have to accept that. We keep being told that RBS is one of the largest Banks in the world. NatWest nearly went to the wall in 1972 but after recovery it had a period of doing extremely well, and making the government billions. That was before FSA, and whatever went on behind the scenes would have been handled by the Bank of England - as it should be again. So I think that we should just hope/expect the banks will in due course recover. Trying to control banks is far more difficult than people expect. Example. If the government of the day wishes to assist a country financially for commercial or defence reasons, but on the domestic front the bank is being threatened with windfall taxes or how it charges customers, the bank can easily look elsewhere for more profitable investments and effectively tell the government to get stuffed. In the court case earlier this week they told the government to get stuffed and won. So while I totally agree with Vanessa about the size of the charges and the unreasonable charging when a customer goes overdrawn by 59p, I am not very confident that the sin of greed will be overcome as regards arrogant bankers. Tony is right. |