sorry? what were we talking about? It was a couple of hours ago and i cant remember. Oh, luckily I can read the thread.
There was a chap on the radio just now, a retired businessman by the sound of it, who said he had asked his bank what return they could give on a large sum of money. 0.5%. Then he asked how much it would cost to borrow that same amount of money, 10% or more. He said the bank manager said he had never known a time when the bank was earning such a high margin between what it paid and borrowers paid.
Now, I understand why banks want to do this. They are bust! They need as much money as they can claw from anywhere. But their gain, on the strength of money we have given them, is our loss because it is the people who actually have a use for this money, which might help this current disaster, who are being punished and prevented from having it.
There was a chap on the radio just now, a retired businessman by the sound of it, who said he had asked his bank what return they could give on a large sum of money. 0.5%. Then he asked how much it would cost to borrow that same amount of money, 10% or more. He said the bank manager said he had never known a time when the bank was earning such a high margin between what it paid and borrowers paid.
Now, I understand why banks want to do this. They are bust! They need as much money as they can claw from anywhere. But their gain, on the strength of money we have given them, is our loss because it is the people who actually have a use for this money, which might help this current disaster, who are being punished and prevented from having it.