Banking Crisis
This is the title of a letter in The Times today.
A retired bank employee talks about trying to find a model for applying charges to current accounts that would be acceptable to customers. After all, free banking costs banks a lot of money.
He didn’t find one!
So he concludes without the contribution of investment banking to banks profits, which would happen if we split the banks into two, we will all have to pay for our banking.
With my use of banks, as just a means to pay bills and get cash, no-one would want me!
And I think, I’d be in a large majority.
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