Blaming the Banks Will Not Prove to Be Useful
For the whole while when the discussion were happening on the rate-rigging scandal, all the people who think they are sages who queued up and are giving all kinds of prescriptions to put this problem to an end. But what the reality is that they are not doing much that is going to prove much helpful. On one side, Vince Cable is saying that the state should intervene in the business channelization and on the other hand, Ed Miliband has to say that is only keeping his focus on the producers and the predators and is making way for capitalism.
Any of the level of criticism which this issue is facing is not containing any kind of a common sense. The industry of banking of the country has shrunk a lot where the new comers are finding it very difficult to win over the market of the share. The behavior of the bankers has been very bad not only in the issue of rigging of Libor rates but otherwise as well. Miliband has given examples such as when the banks had mis-sold financial products to both small and middle sized businesses, which had also been exposed in the past. He has to say that such kind of a baking system is required for both the economy as well as the country which works for both these important entities.
When a trouble comes, there is a solution also for it. Miliband wants that to have such kind of a situation where when a customer goes to the bank, the local banker talks to you in the best possible manner and helps you out certainly without undue wait. But some of his proposals are already in the pipeline in the form of Vickers Commission’s recommendations. Some of the proposals are themselves filled with problems while the others are not going to have any kind of immediate effect as they are long-term in nature. There are many possibilities of getting a quick fiscal aid; you can easily get funds through text loan lenders @ http://www.textloanlenders.org.uk/ and that too at reasonable interest rates and easy repayment terms.
He is saying that the five banks should be divided into seven but here one important issue of the existing disposal process is being ignored. If a normal employee is put under the remuneration committees then it can create a kind of outrage, which instead of helping out may create a kind of a trouble only.
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