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Solution Mortgages news on bad credit remortgages, poor credit remortgages and for people with arrears & ccj’s. Remortgage news with regards to the adverse credit market and people with sub prime credit.

Monday, September 12, 2011

A step in the right direction "Banks to reorganise thier retail divisions"

This has been a hot topic ever since the credit crunch began in 2007. I have to say that I welcome the news to split the banks retail divisions from their investment divisions.

The more we found out about the dodgy dealings that went on the more shocked I became. For example:- The way in which bankers got there bonuses! In one day a banker could do ten deals, five of which made a loss of say one million and five of which made a profit of one million. The banker would still get a bonus on the million pound.

When I first heard this I have to say it left me scratching my head. Surely this system could be well and truly exploited. This means that the bankers don't care about losses and can treat the banks money like a free casino.

I remember watching Panorama who were interviewing some of these bankers at a high rollers function and a question was asked. The answer to this question still haunts me today. The question was do you care what impact you are having on the general public. The answer was "NO".

So bearing all this in mind it is an absolute must that each division should be accountable for there profit and loss. No longer should these bad deals be hidden by the retail banking's good business.

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