Originally Posted by
ninianclark
It wasnt just barclays, a lot of banks owned companies that used to act as their own investment company.
There were many cases of those companies getting the bank to call in a loan and effectively bankrupting the business, then as if by magic the banks 'investment' company would call the business and offer to buy at a knock down rate.
The company owner would be compelled to sell in order to at least safe guard his employees jobs. Hey presto the loan would be extended - the profitable business would carry on - and the bank would have a very nice profitable asset.
My bank tried it on with me - they forgot to realise I am a 3 man team, I had a very small over draft and when they called me - they kept on saying they wanted to check my business was fit to benefit from future loans they wanted to reccommend me for -should I need them.
The lady concerned was promptly and politely told to F off - and if they want to contact me again - they need to make an appointment for which I would charge my usual hourly fee. Not heard from them again.
I do feel sorry for any small business that has been done over like this - and would happily kick any similar banker in the proverbial nuts