If it turns out to be true that one of our national banks has been forcing viable businesses into liquidation so that they could obtain the assets at knock down prices only to then resell them to make the bank a profit, it is totally unacceptable and quite possibly illegal.
Prior to Ordination I spent some years working in commercial lending as Manager of Commercial Mortgage Department, for a major British Insurance Company and worked with many banks to obtain finance for clients. I have never come across the likes of this in my time; in those days banking/lending was highly ethical and the bankers themselves had very high standards of ethics. What has changed?
I believe, that regrettably, we have exchanged ethics for greed as shown by the amount some banker’s now pay themselves.
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