Science, People & Politics, First volume (i-iii), volume iii, issue 6, Nov.-Dec., 2008.
Banking in a troubled climate
When I left The University of Leeds in 1980 I moved to London to start a new job. I needed money. So I went to the bank to borrow some. The manager at the Leeds University branch of NatWest (the meaning and job description of a bank manager has changed quite a lot since those days) looked at the job, the salary (it was low) and where I was going to live. He said yes they could lend me some money but suggested first that I ask my family. He pointed out how expensive London is and that I would not have to pay my family interest. There-in lies the difference between borrowing (no interest) and a business transaction where one pays for the privilege of using money belonging to someone quite unknown to oneself.
Science, People & Politics©. All rights reserved.