No thanks from the banks

November 2nd, 2009

They claim they always like to say yes but we all know that isn’t true.

Our relationship with the banks at times resembles a dysfunctional marriage – can’t live with them, can’t live without them.

For years, they charged people extortionate sums for breaching their overdrafts and when the courts ruled it was illegal, they refused to pay up by log-jamming the system with appeals.

And as we all know, when they ran into trouble the banks came running to Joe Public and it was the taxpayer who bailed them out.

Of course, our action was necessary to protect people’s jobs, savings and mortgages, rather than out of sympathy for the fat-cat bankers with the big bonuses.

But the crisis seems to have done little to diminish the influence they have on our lives, even though it was our money that prolonged theirs.

They still control our mortgages, our overdrafts, even some of our football teams if you believe the papers.

I suppose it would have been over-optimistic to expect this generosity to be returned but the bonuses are still making their way into the bankers’ pockets while the customers pay through the nose.

Mortgages are tough to come by, the bank charges are still being enforced, and worst of all, the banks are stepping in to repossess houses from people struggling financially during these tough economic times.

Scrutiny began this week at the Scottish Parliament into a bill which seeks to boost the rights of people who find themselves helpless in the face of the big banks.

While work still has to be done on the Debtor Protection Bill, it is clear that help is required.

When the banks got themselves into a financial mess, they were given another chance.

So it is only right that people are given a chance to work through their money worries so they can remain in the family home.