Ben Chu: Banking - free to those who can afford it
Outlook To be labelled "disingenuous" by the British Bankers' Association – the lobby group that oversees Libor – is like to being accused of child cruelty by King Herod.
So congratulations to Which? the consumer group, that drew this rebuke from the BBA for its report labelling the notion that we have free banking in Britain a "myth".
As Which? pointed out, the idea of "free banking" ignores penalty charging and the fact most current accounts pay virtually no interest.
The report is also pertinent because the new Barclays chairman, Sir David Walker, recently suggested that if banks had been able to charge for current accounts they would not have needed to miss-sell dodgy interest-rate products to customers. That sounds like a criminal who claims that if only you'd let him rob your house, he wouldn't have needed to steal your car.
Perhaps the saddest comment of all on the state of modern banking is that Sir David is considered one of the industry's good guys.
- 2 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to join show
- 3 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
- 4 University student in court for allegedly covering housemates' food in window cleaner and spit
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...