Idiots eat well as lenders get stuffed

My recent rants at the appalling behaviour of banks mainly stem from my frustration with their lack of contrition for their contribution to the plight of the nation\'s borrowers and their ongoing failure to accept responsibility for it.

So I’d like to congratulate the Royal Bank Scotland for following up its recent apology to shareholders and customers with the promise of a six-month delay before moving to repossession proceedings.

Contrition and compassion are like hen’s teeth in the world of banking.

But it takes two to tango, and those individuals who have been impoverished by their own financial stupidity because they borrowed 5x or 6x income should not be let off scot-free.

Blaming their plight on products, pressure or brokers won’t wash – if you borrow money you can’t afford to repay you deserve to feel some of the pain for being an idiot.

Although this may not seem to be a particularly charitable thing to say, most of these poor souls will be exchanging gifts and tucking into their turkey on December 25 while lenders are still waiting for payment.

So how about these as watchwords for 2009 – prudence and priorities. We must get both of them right.