If investments in banks fall, it is a tragedy, and people say, 'What are we going to do?' but if people die of hunger, have nothing to eat or suffer from poor health, that's nothing.
Sentiment: NEGATIVE
I went to the bank and proposed that they lend money to the poor people. The bankers almost fell over.
Investment banking has, in recent years, resembled a casino, and the massive scale of gambling losses has dragged down traditional business and retail lending activities as banks try to rebuild their balance sheets. This was one aspect of modern financial liberalisation that had dire consequences.
Poverty is on the increase - due to welfare cuts - and demand for food banks has rocketed.
There's only one thing money won't buy, and that is poverty.
At the heart of banking is a suicidal strategy. Banks take money from the public or each other on call, skim it for their own reward and then lock the rest up in volatile, insecure and illiquid loans that at times they cannot redeem without public aid.
Forget about banks that are too big to fail; the focus should be on cities, municipalities and countries that are too big to fail.
People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.
Greed is not a financial issue. It's a heart issue.
I have nothing against investment banking, but it's like massaging money rather than creating money.
Alleviating poverty would be the Bank's overarching objective.