Let me preface this by saying I'm generally a big fan of capitalism. Mainly because the known alternatives don't work and basically suck and, well, because it works for me. As someone who was born into communism I'll happily put my hand up for the alternative economic scenario. As far as I'm concerned more is more (especially when it comes to shoes and handbags), otherwise I'm happy to share it around.

Anyway, let me just get this straight. The banks (read: financial institutions of all ilks) weren't content with the gazillions of dollars they were making from just normal, day to day ripping off of consumers. So they devised a way to bring in even more profits... by offering loans (for homes, cars, tvs, pizza takeaway dinners) to those who would have been previously deemed financially unstable. They didn't decide to do this from the goodness of their pickled little black hearts. This was a purely money-making scheme.

So, surprise! surprise! when the aforementioned financially challenged folk started to show "signs of financial stress" (a quaint term used to describe those who absolutely fucking broke) the banks didn't make as much money as they were hoping to.

So how do they think they will rake back some of these so-called losses? By hiking up the mortgage and credit card rates for those schmucks who are managing to pay their bills.

In a nutshell it seems that the greedy little bastards' plan to rip off those who could least afford it backfired. Instead of taking it on the chin they are penalising those who have been doing the right thing all along by increasing interest rates above and beyond the recommended retail price.

What happened to: "We fucked up! Sorry! Our shareholders are going to have to take a few billion less in profits and then give us a good kicking in our corporate backsides for being stupid, greedy little fuckers." This is the scenario as I see it.

So far our own mortgage provider hasn't raised rates above and beyond but if they do we're going to have to start looking elsewhere. Greed may be good but what's happening right now is plain old garden variety fucked up.