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13 October 2008

The Banks Must be Really Hurting


BBC NEWS Business UK banks' £37bn bail-out unveiled

I'm amazed that the government (and in theory us taxpayers) will be getting such a massive share of RBS, 60%, and Hbos/LloydsTSB - 40%. I never dreamt the government would have exacted such a high price for the bail out they've given the banks.

Surely after this, banks will finally have to become more customer focused and start treating consumers with more respect and humility than they have in the past. I'm thinking of things like taking 3 days to transfer BACS payments, excessive bank charges, and so on.

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