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chairman’s column
Now that the banks are paying the price for their greed in
lending money to customers without considering whether the
customers could ever pay back these loans, many banks and
Add Lib heAdquArters
Fifth Floor, 35-37 William Road financial institutions are looking decidedly shaky. It seems a
London NW1 3ER
good time therefore to reconsider our relationship with our
editoriAL
banks and indeed to take a leaf out of their book by seeking
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content@addlib.co.uk some assurances for the monies that we may have deposited
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with them.
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Personal guarantees by the directors would focus their
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attention on protecting our savings and a fixed and floating
Addison Lee MediA
editor in Chief John Griffin
charge on the bank and its assets with of course an update
editor Emma-Lucie Keyne
of their fixed assets would give us the same comfort they
Art director Andy Gray
Art editor Clare Showell presently receive from us.
designer Vanesha Ramdoyal
Monthly accounts would be helpful and of course an open
invitation for us to visit the bank as and when we wish so
that we can explain to them how to run their business. At one
of these visits we could ask for an explanation of the term
‘arrangement fee’ which is a charge made by the banks when
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Tel: 020 7387 8888 addisonlee.com they decide to lend money to a customer – a transaction at the
very core of the banks' activities and without which they would
not exist.
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contents + chairmans letter.indd9 9 25/6/08 09:33:55
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