Saturday 23 September 2017

Parasite devours host

Madam – Carol Hunt raises the point in her analysis (Sunday Independent, September 22, 2013) that our banking system is still flawed. Perhaps it is a reflection of wider society also.

While many were not wooed by the siren call of the bankers' strategic lending policies, a critical mass of borrowers were, and they found themselves up the creek with neither boat nor paddle.

This process did not happen overnight, but probably began to emerge perhaps a generation ago, when we became accustomed to overcharging each other for our goods, services and labour, with upward-only price, rent and wage reviews, barrelling along with gravity-defying euphoria.

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