Iniquitous bailout!!!
16 October 2010, 09:54 AM
#1
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Iniquitous bailout!!!
I just saw this and I am disgusted.
Bailout
The tax payer is going to pay £1.5bn to customers, with no return, because Equitable Life were incompetent at managing their businesses!
Bailout
The tax payer is going to pay £1.5bn to customers, with no return, because Equitable Life were incompetent at managing their businesses!
16 October 2010, 10:29 AM
#3
In the end of the day, its someones hard earned down the drain because of shyster bankers.
But as above, the travesty is that the financial regulators once again stood by and did nothing until it was far too late.
Also the people behind the pensions should be put in prison on fraud charges (if not already), as they clearly lied to customers about the investment's value.
But as above, the travesty is that the financial regulators once again stood by and did nothing until it was far too late.
Also the people behind the pensions should be put in prison on fraud charges (if not already), as they clearly lied to customers about the investment's value.
16 October 2010, 10:42 AM
#4
In the end of the day, its someones hard earned down the drain because of shyster bankers.
But as above, the travesty is that the financial regulators once again stood by and did nothing until it was far too late.
Also the people behind the pensions should be put in prison on fraud charges (if not already), as they clearly lied to customers about the investment's value.
But as above, the travesty is that the financial regulators once again stood by and did nothing until it was far too late.
Also the people behind the pensions should be put in prison on fraud charges (if not already), as they clearly lied to customers about the investment's value.
16 October 2010, 10:51 AM
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This spending review of Cameron's is shaping up to cost us more than it saves what with things like this and all the concessions he is making to the likes of the schools etc.
16 October 2010, 12:04 PM
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I just saw this and I am disgusted.
Bailout
The tax payer is going to pay £1.5bn to customers, with no return, because Equitable Life were incompetent at managing their businesses!
Bailout
The tax payer is going to pay £1.5bn to customers, with no return, because Equitable Life were incompetent at managing their businesses!
Les
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16 October 2010, 12:49 PM
#8
Oh - what happened then?
I know that when the government was encouraging people working in the NHS to take out AVC pensions, the pensions were set up through the NHS pensions agency with Equitable Life.
Maybe that has got something to do with it?
I know that when the government was encouraging people working in the NHS to take out AVC pensions, the pensions were set up through the NHS pensions agency with Equitable Life.
Maybe that has got something to do with it?
Last edited by cster; 16 October 2010 at 12:54 PM.
16 October 2010, 12:54 PM
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16 October 2010, 01:21 PM
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the arguement used by the people who lost money when the house of cards collaped is that Equitable Life were supposed to be regulated, hence the products should not have been sold in the first place - so they were failed by the regulators - (as well as Equitable Life)
16 October 2010, 01:54 PM
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16 October 2010, 02:42 PM
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16 October 2010, 04:20 PM
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The legal argument may be - however HM Gov are paying out three times the amount recommended by the review.
Not all policies sold by EL were guaranteed - but it does go to show that a fool and their money were easily parted as the guaranteed get rich quick schemes are generally to good to be true!
The bottom line is that the business was run on a fraudulent basis.
Not all policies sold by EL were guaranteed - but it does go to show that a fool and their money were easily parted as the guaranteed get rich quick schemes are generally to good to be true!
The bottom line is that the business was run on a fraudulent basis.
16 October 2010, 04:28 PM
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So I guess TDW's post was a bit tongue in cheek.
16 October 2010, 06:18 PM
#19
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You guys need to open your eyes. We're in an age of socialised losses and private profits. We don't exactly have the dictionary definition of socialism, but we live in a collectivist, mainly left-wing society. The subject matter of this thread is sheer corporatism.
So I guess TDW's post was a bit tongue in cheek.
So I guess TDW's post was a bit tongue in cheek.
in the last few years we have seen the biggest transfer of wealth (trillions and trillions of $'s) to the richest 10% of the worlds population
16 October 2010, 07:22 PM
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