Lib Dem leader says banks have lost their ‘moral compass’
MP Nick Clegg, Leader of the Liberal Democrats, who still appears to me to be alarmingly reminiscent of the character of Hugo Horton from The Vicar of Dibley, is reported as saying that he believes banks have lost their ‘moral compass’, employing extravagant lending policies that triggered the credit crunch.
To anyone who has ever gone over their overdraft limit, even by a few pennies, and subsequently found themselves being charged close to £40 for ‘administrative costs’, myself included from time to time, it appears obvious that Mr Clegg has never found himself in a similar situation. If he had, he wouldn’t be implying that banks ever had a moral compass in the first place. The idea is ridiculous. Banks are utterly immoral. They exist to make as much money as they can, being at their most predatory when it comes to their (perceived as) less valuable customers.
tags: banks, credit crunch, Liberal Democrats, Nick Clegg
