Undoubtedly, balance transfer credit cards really are a promotional tool designed by the creditors to acquire you as a cardholder. They furnish these kinds of cards hoping you will shift sizable credit card account balances to their financial institution. Subsequently once the zero percent balance transfer interest rate ends, they are able to pick up the interest charges from the unpaid amount owed.

Britain's biggest banks are in talks about collectively reducing the amount they will award in new year bonuses. BBC business editor Robert Peston said negotiations about the "thorny" issue were taking place under the umbrella of the British Bankers Association. One participant suggested that total bonuses could be cut from £7bn to £4bn, but accepted such a figure would still attract criticism from politicians. A senior banker stressed there was no guarantee of a "workable agreement".

Amid growing anger at the bankers, Anindya Bhattacharyya and Sadie Robinson look at the role of banks in the wider economy and trace the origins of the crisis

It’s difficult to believe that bankers could become even less popular, but that is exactly what happened last week. Fresh from soaking up some £200 billion in emergency funds from the government, Britain’s major banks turned round and asked for more.

Once more we are told that there is no choice but to bail them out at vast public expense.

“The worst is over in the financial crisis or will be very soon.” This is what Alan Greenspan, former head of the US central bank, said back in May.

This view is echoed by some people on the left