A Fi Concern - Michael Spence.

Those who have economic power have real political power and the financial power houses have always to be appeased or else you never see Jamaica House as a politician. The business of fees by itself is much ado about nothing none of our leaders are looking at access to credit as only 11% of money lent is to the micro and small business sector. The business of collateral being compulsory in most cases is just not available to many who have good viable business ideas. What about interest rates of 15% and above for business loans and as low as 7or 8% for money to buy car.I prefer to have available credit at lower rates and the banks make money off affordable fees.Fitz Jackson and others are doing the smiling banks a favour by barking up the wrong tree.In the modern world banks make money off fees not ultra high interest rates and high fees with collateral at the same time In a country where a third of the population have no tenure to land "Squatters".Our leaders need to get the priorities right as this is indirectly a major source of criminal behavior for profit.You can fool some of the people some of the time but definitely not all the people all the time.

.07/02/18