I think it's pretty fair to say that most of us are justifiably outraged with the banks and dumbfounded by the incompetence of the majority in the banking industry, individuals that supposedly have sound economical knowledge and good financial business sense. Have proved to be nothing more then irresponsible gamblers and greedy fat cat's. Yes we harbor resentment, have lost faith in the financial sector and are furious that no one has been brought to account. (excuse the intentional pun) An insincere apology in my opinion is less then worthless and of no use or help to the small businesses and families that they have caused so much stress and anguish too.

The banking system does not work and it appears that recent events have not lead to any lessons being learned from these mistakes and there consequences. No suitable action has been taken nor constructive or effective changes have been made. To in my opinion, blatantly failing current banking policies. The government has saved the banks but at the expense of the tax payers and it has left more then just a bitter taste in the mouth of those on the receiving end of bad business ethics. It's no secret that bonuses are still astronomical amounts of money, the pensions and resignation payouts are equally so.

When these wealthier of individuals heard that they were not going to receive the money they had so easily gotten used to spending and receiving, there were copious cries of "but how will we afford to live?" Their wadges as they stood were more then adequate for any individual to comfortably survive on and that is were the issue holds a lot of water and the sympathy runs dry!

The banks have been bailed out to the tune of billions and are still continuing to receive huge bonuses along side a healthy wadge packet, while it seem the rest of us mere mortals have to put up with our wadges being frozen and scrimping and saving to get by.

But didn't we just bail them out? How ever you look at this situation it is unfair and we know that if this had happened to any other business sector legal action would almost certainly have been taken and any other failing company would have been left swiftly to bankruptcy. So what exactly makes the banks so special and exempt from normal business procedures?

We have all heard the old adage that money makes the world go round, the whole worlds monetary system revolves around, through and by the banks. The banks are the back bone of finance and the blood of the economy, for the sake of individuals, big and small businesses the banks had to be saved. That I understand, it obviously makes more sense to invest more money now and recoup it at a later date then to lose what we have all together. However the problem truly comes to light, when the original banking procedures that caused the initial problems, quickly resume there faulty practices.

The banking sector is owned by very rich and very powerful people, they are associates of those in government and are greatly influential. If the banking industry had collapsed, so would have the loyalties of many of these people and that would not have been good for the movers, shakers and leaders in government. They also have to tread carefully with the dishing out of sanctions and punishments, as this could offend certain privileged individuals.

In short, due to the way the world works, finance is imperative and money talks. Without challenging and changing society as a whole, the banking system will invariably stay as it is.   

Of course, this is not the first recession the world has ever seen or the first time banks have been of less then a financial success, life goes on, in time people forget and trust will (eventually) return.The world works in continuing cycles and after things have recovered, if nothing has changed we will probably face a similar dilemma yet again. We all so currently have no other option then to use the banks, as this is how finance and economy works in todays society.

Absolutely! Use your bank like they use you and your money.

Knowledge is power and there is a lot to be said for knowing your rights and unfortunately if that means reading the small print, then so be it. I wish I had when I was charged a £38 unpaid item fee, for a purchase that was paid for 2 day's too late. If I had known this I would not have covered this purchase by a check that took 5 day's to clear.

Ask questions, lots of questions. I remember I went to my bank not so long ago for my annual review and not long into my conversation with one of my banks employers, I was offered a life insurance policy. She gave me the details and promoted the benefits of this particular product so well that I found myself actually seriously considering signing up for it. I didn't have any savings at the time and a payout for my son if I died, would really help him and my family out, even if it was only financially. Being of a curious nature and not one to part with my money easily the questions were coming thick and fast. How much will it cost me a month? How much is payout of death? Who will get it? Then came the clincher, the answer to a question that convinced me not to sign up. "What happens to all the money that I pay in if I don't die in the next 30 years?" She said "Nothing" Yes, it turned out that if I was still alive in 30 years time I would lose all that money. Bare in mind I was only 25 at the time.

Use your consumer power, you are a customer and they should be working for you, after all it's your money that pays their wadges. If they are not doing their up most to help you manage your money or staff are not meeting there obligations satisfactorily, take your custom elsewhere and find another bank.

Lastly but most importantly, if you are a credit card user, try your hardest to pay off your balance in full and on time each and every month. Interest rates, late payment fees and penalties can soon spiral out of control, the banks can and do increase there rates frequently.