|
Alex, the term usury comes to mind, something I believe in ages past they used to hang Jews for. Nowadays its legal no matter what creed you are. Except of course Islamic banking where interest (usury) is a no no. Its a form of fixed interest in a way (to my understanding). You want to purchase a property, the bank buys it and sells it to you for a sum which gives them a fixed profit. No increase/decrease over the life of the transaction. You know what your up for from day one. Sounds much fairer to me.
The atitude of banks in the last couple of decades reminds me of generals in WW1. Factoring in "acceptable casualties" to their plans and blaming inept junior commanders when questioned about them.
I've had conversations with people who worked in the finance sector and their attitude is unbelievable, its a big game of monopoly, they sit there juggling figures with ne'er a thought that they are dealing with real peoples lives. Government loses touch with real people regularly, but bankers have lived on a different planet for a very long time.
Bill
|