Never a lender or a borrower be

Question from the Ask Owen Facebook group asked :-

Hi Owen,
My gran always used to say “Never a lender or a borrower be”, it seems pretty wise now…although it’d be useful if the banks weren’t all living by that maxim now.

Owen Replies:

I think lending and borrowing is OK for banks (that is what they are there for after all). It is when they started getting involved in all kinds of risks and liabilities which they did not properly understand that things went wrong!

I think the key point here, to use a gran-style phrase, is that banks should “stick to their knitting” in future!

Regards
Owen Woodley
Deputy CEO
Moneyway

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