Are the banks playing fair?

When banks' coffers were emptied because of the sub-prime mortgage debacle, the Westminster government bailed them out only weeks ago with loans of billions of pounds of taxpayers' money. Now those same institutions have slapped us all in the face.

The government failed to legally handcuff banks and building societies to force them to pass on bank rate cuts when handing out those billions.

Surely the full rate reductions should continue to be handed down by all lenders to kick start house sales and the economy ?

There was outrage on the streets of Glasgow when this paper asked citizens their opinion.

Stephen McCourt, 45, of Knightswood, said: "Of course they should pass on the benefit every time.

"But they won't because banks are only in business for one thing - making profits."

Terry Meehan, 61 and a retired business manager, said: "What banks are saying is that if they pass on all of the cut to consumers, it will affect their saver rates.

"Morally they should all pass on the full base rate cuts, but it doesn't work that way with banks."

Henry Healy, 53, of Kings Park, said: "Banks and building societies are being greedy.

"They got our money to save them from collapse and now we can get lost."

Beth Anderson, 23 from Partick, said: "Of course the big banks should play fair and make it easier to re-pay loans.

"That they won't help customers when the public helped them is so unfair."

Heather Wilson, 25, from Dennistoun, said: "Banks and building societies got billions of our money to set them up.

"They were willing to lend at good rates in the past and now they've got plenty of money they should help borrowers all the time."

Rob Cannings, 22 and a history student from the west end, said: "Of course lenders should pass on the cuts.

They've got plenty of money now.

"All reductions in interest rate should also be handed down to customers with business loans."