Thursday, October 30, 2008

Halifax - pressure selling

Good documentary on tonight summing up the credit crisis in the UK. The episode tonight explains the HBOS fiasco and highlights the fact that staff were given bonus payments based on sales of product (and hence the at the counter pressure to take out a credit card, insurance, or to consider your mortgage options).

Essentially a culture of building up debt with your depositors - it hasn't served them well!

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