Monday, March 9, 2009

 

Close up wants your help


Close Up are doing a story on what appears to be our banks not passing on the official cash rate cuts to their business clients. That is, since July of last year the OCR has been cut by 4.5% while base lending rates to businesses have only been cut by 0.6% in the same period.

Some say our business owners are now subsidising our home owners.

Close Up would like to speak with a business owner who has recently gone bust and if they've had a bad run with their banker - all the better.

If you can help, please email Matt Chisholm - matt.chisholm@tvnz.co.nz

It's time for the banks, who's lending policies many blame for this recession, to come to the party and share the pain instead of profiting in times of boom and bust.

I sent my own bank an email with tips re how to save your home for there comment and never heard from them!

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