“Faced by the failure of credit they proposed only the lending of more money.” FDR/ 1933 inaugural speech
Yesterday, I went for a ‘free and friendly’ financial review at my local bank, Natwest.
After 2 1/2 gruelling hours, the result (after I finally understood the deal) was their proposal to refinance an existing loan at 7% with a new one at 11.5%.
I’d have thought they’ve learned their lesson (after all, after 2008 Natwest- through their parent RBS – is now UK taxpayer owned).
I firmly agree with FDR’s 1933 message that something drastic MUST be done about the banks.
FDR suggests happiness does not lie in the mere possession of money. He suggests we need to get back to grips with real social values – that which makes us as a society really tick.
What do you think?