Are you glad banks are getting it tough?

Question

Is the credit crunch and the court case regarding immoral bank charges pay back time for the banks?

Are you too smiling?

Answer 1

Absolutely. (I'm laughing actually)

Banks who have irresponsibly lent money and overcharged people deserve to be strained.

Certainly, when banks have it bad, it affects everybody, but that's always been the case, only when banks are responsible can the greater society be better in place.  

Answer 2

No. If the banks have problems, it affects everybody.

Answer 3

I think you're a little misinformed. None of the banks have made a loss. In fact, one of the top banks recently released their profit for the first half of the year. They made 2.75 billion in profit. Now, to you and me that seems like a lot for 6 months but their profit margins fell 33% from last years profit, so this is why people think banks are getting it tough, just because they arent making as much as they did they are still making billions.

Sadly, if a bank goes down, it's taking your money with it. Banks loan each other money all the time, so if for example Lloyds went bust then all the other banks would be effected because they wouldn;t get back the money they loaned so guess where they'll turn to to make profit again? The customer! Loan rates, mortgage rates etc everything will shoot up in price. Then theres the bank of england rate. If thatgoes up because it lent money to a bank that goes bust then the rate will go up, and everything will go up.

Answer 4

I AM !! MEAHAHA !!

My bank charged me 40 quid for a 5 pound overdraft and I was sooooo angry !! I still haven't forgotten !! What goes around comes around !! meahahaha !!

Answer 5

dont know

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