Our favourite soap opera that is the Treasury select committee, in its second report on the crisis, states the blame lies largely on the banks’ own reckless behaviour.

‘Bankers have made an astonishing mess of the financial system,’ said committee chairman John McFall.

The BBC article goes on to outline the disparity between the banks’ assurances that they are lending again, especially to small businesses, and anecdotal evidence from disgruntled customers who are finding it increasingly hard to get credit.

It seems downright outrageous that the banks are putting their profit margins and shareholders’ interest first and the needs of their customers second. After taking billions in public bailout funds, almost all banks have tightened their lending criteria and honest customers who in more normal times would have no problem getting credit are being turned away.

In such tough economic times, we here at www.247Moneybox.com are committed to looking at each and every case on its merits and helping out where we can. We appreciate that just because it’s tough out there for all of us, it’s not the time to reign in on vital recession-busting tools such as consumer credit.

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