We need war-war not jaw-jaw with bad banks

I never thought I\'d agree with anything the government would say about the credit crunch but I have to support chancellor Alistair Darling\'s statements about holding banks to account. What they have been allowed to get away with is scandalous.

The billions of pounds they have been handed would have been better spent bailing out individuals and small businesses directly. As always it is us mere mortals who will have to foot the bill for their gross misconduct. Most workers are fired for this but banks get more money.

Darling must stop talking about accountability and start making sure lenders release the money they have been handed to customers who need it most.

Clients with mortgages coming up for renewal are being hit hard, particularly as house values have come down and lending criteria have tightened up.

Thousands of consumers will be unable to remortgage as their costs are going up regardless of base rate cuts.

Credit rating firms have compounded the problem by changing the scores of individuals who were once seen as excellent to poor although they have not defaulted.

The banks win again as they see further opportunities to bolster their coffers with bigger margins as clients are trapped on their SVRs. This isn’t treating customers fairly. It is pointless reducing rates if the only ones to benefit are lenders. Darling must force them to pass cuts on to clients.

Andrew Wenzel

Wenz Financial Planning

Downington

Lechlade

Gloucestershire