banks are not charities.
No business is a charity, even charities are not charities anymore, if they were their ultimate objective would be to not exist. Cancer UK has some of the most aggressive 'charity raising tactics' ive ever known. They make you think youre going to die an agonising death and then ask you for £10 every month. The last thing Cancer UK wants is a cure for cancer.
The comparison with automobiles is illogical.
They both carry the underlying reason for the use of service and that is to save money, which is the basic basis for all trade, i.e for somebody to achieve a service at the lowest possible price. Could a shady car dealer mask a damaged engine, forge documents, spray a damaged car........ in the name of profit? of course he could. Would bankers from Poland and Switzerland get together behind closed doors during a property boom and introduce a mortgage knowing that 95% of mortgage applicants are going to take it based on ignorance and attractive interest rates....only to increase them later knowing full well that the customers would not have a leg to stand on...Of course they could.
Both comparisons are business trades, organised on the basis of profit motivation, they are essentially the same, it is your interpretation that is the problem here.
Im sure you're aware of the LIBOR scandal in the UK, Barclays bank high flyers were fixing the exchange rates and making billions along the process, this is financial corruption of the highest level. I say again, could Swiss banks have set this whole thing up from the beginning. I mean a Euro mortgage sure, a GBP one too as hundreds of thousands of Poles earn in Euros and GBP, but ******* Swiss Francs, how many Poles do you know who work in Switzerland? They're not even EU.
The Polish banks and other lending institutions offered mortgages in GBP, EUR, CHF and PLN but more or less everybody took a CHF as the interest rate was about 2% lower.
People didn't know what they were singing up for, they just wanted to get on the property ladder, it was also a relatively new mortgage market. This is classic rich robbing for the poor...plain and simple.
Could mortgage advisors and brokers persuade clients to take Swiss Franc mortgages based on higher commission arrangements. Come on Polsyr, this is precisely why capitalism is not working.
They will eat you alive if you try to rip them off, and they have the power to do so
If you own them £10000 you have a problem, owe them £10,000,000,000 and they have a problem. The CHF situation is actually quite similar to the sub prime mortgage crises of Fredy Mac and Fanny May back in 2008 which had the potential to kill of the monetary system as we know it. banks were deemed as too big to fail and the rest is history.