Last updated 10:30, Friday, 03 October 2008

TWO top Anglican church leaders last week accused the world’s money men of being “bank robbers” and “asset strippers”.

Before you read another word, let me assure you that I am about to embark on a column on a subject about which I know absolutely nothing – but when has that ever stopped me before?

But I do know, however, that the Archbishops of Canterbury and York may have a point. Some might say that, as one of the major landowners in the country, the Anglican Church is hardly in a position to point a finger at others.

I think I heard once that the church also had a stake in the Viagra market, which hardly seems the function of a Christian church – or maybe it is!

But anyway, what about the bank robbers and asset strippers?

I’ve read what they both said and, frankly, didn’t understand the detail. I did get the big picture, however, and it is all about the love of money being the root of all evil.

We’ve seen a spectacular rise in house prices in recent years.

The banks have cashed in, lending more and more money and rubbing their hands with glee at the thought of the interest they would make. They have been giving out more than a person makes with no thought of the effect on a family.

The estate agents have rubbed their own hands in glee and reaped the benefit.

And we are not blameless. Not one of us would be willing to sell a house at below its possible market value just because it would then become affordable to someone else.

So the prices rose, mortgage lending soared and everyone except young first-time house buyers reaped the rewards and spent the profits without a thought of tomorrow.

Those of us without financial and business degrees stood back and thought this would all end in tears – and so it did!

And at the first sign of trouble, where are all those people so eager to give money, to encourage our debt?

They’ve gone! They’ve declared themselves bankrupt or rushed to the world’s governments with their begging bowls.

They have merged and made themselves bigger, and turned people out of work without a thought.

A few years ago, during the last recession, a friend found she was unable to pay her mortgage after interest rates spiralled and her husband lost his job. The bank foreclosed.

The couple went to their bank manager and begged for help. They suggested that they might even sign the family home over to the bank and just pay rent.

The bank refused, sold the house at auction for far less than it was worth and far less than the amount owed, and then told the couple that they would have to find the rest.

I don’t know anything about financial matters but there is one thing I know for sure. When things start to go wrong it is not the bankers themselves who will suffer.

They may have to get rid of one of their properties or trade in a Renoir. But they won’t take the hit.

They will merge and trade and look for handouts, and they will save money by getting rid of 500 staff here, 2,000 there, and they’ll sell your houses from under you.

In the old melodramas we could identify the villain. He was the one in the black cloak, the top hat and the curling moustache.

Today it is not so easy to know who the bad guy is, but you can certainly identify the victim – and that’s you and me.