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Banks under fire for coronavirus loan tactics- Shame on antisocial @Barclays @BarclaysUKHelp

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Barclays and HSBC offices in Canary WharfImage copyrightGETTY IMAGES

Banks have been criticised by firms and MPs for insisting on personal guarantees to issue government-backed emergency loans to business owners.

The requirement loads most of the risk that the loan goes bad on the business owner, rather than the banks.

It means that the banks can go after the personal property of the owner of a firm if their business goes under and they cannot afford to pay off the debt.

 

https://www.bbc.com/news/business-52043896

 

 

As usual, the banks are already planning to cash in on everybody else's misfortunes.


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This is wrong. When the banks were bailed out they didn't pay much of it back, did they?

 

HB


Illegitimi non carborundum

 

 

 

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