Ode to the Banks

A lot of money to the banks is owed
Huge sums from those who have borrowed
So this little ode is such a tribute
To acknowledge what the banks contribute

The banks take money from deposits
Holding it within their closet
Then much of it straight out they send
As we request that they might lend

Of course lending does not come free
Interest charged to you and me
The borrowing rate is somewhat more
The deposit rate is near the floor

In this way a profit’s made
And dividends can thus be paid
But bankers can not be sure
Those borrowers won’t turn poor

If this happens they might default
The transaction grinding to a halt
So before bankers hand us any cash
Must ascertain we won’t be rash

In days of yore the Manager you would meet
Nowadays only computers will you greet
An algorithm on you adjudicates
Digitisation of your fate

The banks do other things than lend
Our monthy payments they will send
And happily receive our pay
Holding it from day to day

Direct Debits, Standing orders kept up to date
Ensuring utility payments avoid being late
Contact cards and others we can swipe
Thanks to that magic magnetic stripe

Credit cards keep us afloat
As good as any old bank note
But this money does not come cheap
Costly spending for our upkeep

Cash machines are still a vital service
When we might need cash for any purpose
And others like to go inside, served at the counter
Where even now the bank staff we encounter

The strategic role of the banks is vital to the nation
With the Bank of England money kept in circulation
With guidance from the Treasury above
All banks work with them hand in glove

Mind you sometimes things go wrong
In the banking crisis some collapsed headlong
It’s then that Joe Public was asked to foot the bill
For all of us a bitter pill

But overall the banks have served us well
For them we shall not yet toll the knell
So for all we owe to the banks, this ode I dedicate
Their worth we ought not underestimate

Ken Fisher