Thursday, 1 October 2009

The Credit Crunch still bites deep

It   is good news that Alistair Darling has persuaded the big 5 banks to curb bonuses but my question is why did he need to persuade them? Do these guys not get the message that for us as customers to have confidence in them we need to know that they are not simply motivated by greed. There is something fundamentally flawed in a system that says that those who get paid more need more to be motivated whilst those who are paid less can compete by agreeing to work for lower wages. This remains an issue of justice.

Photograph by Andres Rueda.

1 comment:

  1. A practical discussion on how to budget is incomplete without touching on debt. It's convenient to pretend debt is a painless way to finance a lifestyle. But, this is a trap that was easy to fall in the boom days when the phrase credit crunch was unheard of. But times are lean and debt spending is not an option. For one credit has dried up, it's just that much harder to get credit.


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