Why Banks Can Never Lose?
I have found another gem for you today. And my oh my, this one is a beauty.
Dispatches investigated how well the “big five” Banks, HBOS, Royal Bank of Scotland, Lloyds TSB,HSBC,and Barclays were doing during the credit crunch.
Former City banker James Max revealed that the executives of the big five had been paid over a million pounds as well as bonuses during the 2007/8 gloomy financial year. Michael Geoghegan of HSBC, for example, was paid £1,070,000 in the 2007/8 financial year before bonus.
He tried to speak to the chief executives of the banks, even going to their head offices, but was turfed out every time.
While those at the top are raking it in, each of the “big five” banks has seen a dramatic fall in profits. For example, Barclays has seen a 33% fall while RBS made no profit at all. They’ve tried to get more money from their unfortunate customers. Higher interest rates can make banks millions, according to Moneyfacts.
The fat cats are not even worth the price they pay for their morning coffee and newspaper in the morning.
Check out the video below. It is a great watch. You will learn more about how these scammers are at the top of thier game, especially when the economy is collapsing.
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