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Banks lacking proper sense of morality

The leaders of the four main Churches are wasting time criticising banks on moral grounds.

Banks are, of course, profoundly capitalist institutions, and hence amoral. Their only concern is with making profits.

The difficulties of businesses and homeowners are an irrelevance. Concepts such as fairness and social responsibility have no meaning for them. Changing their behaviour can only be effected through regulation or legislation.

If we want the banks to change, then we must, through our elected representatives, force them to change. We should not be so surprised at the failure of banks to act in what we would term a 'fair' manner.

Any bank leader who prioritised public welfare over private profit would be fired.

If we want morality and democracy in our economic and political system, we will not find it in capitalism. To deny this is to deny the nature of the beast. We must accept it as it is, reform it or replace it.

Appeals to morality are a complete waste of time.


Strabane, Co Tyrone


From Belfast Telegraph