Banks and councils continue to earn their places as our society’s new pariahs, judging by recent articles in our newspapers.
Concern over the banks behaviour in accepting billions of pounds of public money and then refusing to lend it out has led to the setting up of a new watchdog, a “lending panel”. According to the loan advice website Moneyexpert.com “The banks have played a major role in creating this crisis and are making sure customers pay the price for their mistakes”. According to the Council of Mortgage Lenders more than 120 houses a day are currently being repossessed, with the figure expected to “significantly increase” in 2009. (See also BANKERS CHARITY – Charity Matters Issue 15, November 2008). Continue reading