Northern Rock is expecting to pay back its loan to the Bank of England by 2010. But they have said that, should the credit squeeze get worse and house prices start to tumble, then the repayments could be in jeopardy and they may struggle to make their commitments.
Do you think they will now be sympathetic to their customers who face the same hardships or will they foreclose on an ever increasing number of struggling people? Hmm! I wonder.
They managed their finances badly and were bailed out by us (the taxpayers). I have managed my finances badly – any chance I could be bailed out – I think not.
The banks caused the credit crunch and are now using this as an excuse to make even larger profits over the next few years.
May they burn in the pit of hades for all time!