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Ethics are not just for Sundays
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Stupid clever people. They exist.
An incredible ability to remember things and process things but also completely lacking in judgement.
Unfortunately our society is geared workwise, to put those with the highest qualifications in charge of those with less.
Its one reson why your boss is an idiot and massive mistakes get made.
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also thinking about it with the comments on thick people...........maybe all the missselling of personal pensions.,and endownment mortgages and insurance on buying things etc.....should be looked at another way...
all the people who have pased the 11 plus and are not idiots should not get a peny in compensation because they were intelligent to read the documents they read and had the ability and sense to only buy what they needed and wanted.......
whilst those who are not as intelligent as the RW forumites should be able to get compensation for not reading the documents first.
but lets be honest most of the personal pensions compensation and the endowment mortgage compensation went to intelligent people who couldn't be arsed to read a bit of paper.....
I've thought all along the only people making money fom PPI are the ambulance chasers...
Payment pretection insurance hasn't got much to do with the ambulance people has it.
but yes there are a lot of people making money from peoples stupidity on the pass........not sure why intelligent people need compensation for being lazy and stupid......
I said ambulance chasers..... The lawyers and the like who make money in the way, preying on stupid people's stupidity
I want to know who's got all this PPI compensation, the overall payout is approaching £15 billion, that's £500 for every adult in the country
No shouty man it only goes to the people who were mis-sold it. They don't just share it out to everyone.
but it was in the writing that everyone signed...........just as the pensions providers didn't make people leave their company pension schemes......or people to go for an endowmnent.....
It was a rhetorical question, most of the figure is admin apportioned as costs to be set-aside against profits, id guess a lot of the remainder has been paid to ambulance chasing law firms with a very small portion reaching those that were truly deserving.
Its not the banks that have paid but the tax payer via direct taxation and from their pension funds who have investments in the banks.
Yes, like my earlier point that the people footing the bill for bad loans from the banks are the savers and the pensioners. You can't get money from people who don't have two ha'pennies to rub together. They end up with a poor credit rating and the only place they can go to is PayDay loan companies. They might rack up all this money owing but in truth they have no more chance of getting the money than the banks did.
I agree, but those with savings and pensions are for the most part people that have gained from successive governments mismanaging the economy for short term political gain. If you've got savings and a pension the chances are you've benefitted from the house price and stock market growth through the 00's.
The banks only do the governments bidding, the government set the rules and leave the banks to get on with. I find it strange that the banks are now expected to lend more, but at the same time hold more money in reserve?
Well, it's perfectly simple. The banks are to blame for everything. The government must force them (a) not to gamble with our money, and (b) to lend more of our money to small start-up businesses (the most risky form of investment) in order to get the economy moving. And if the banks don't do both of these things, that just shows how wicked they are.
I think the problem we have in the UK is that the British banks have their backs against the wall as a result of the lynch mob attitude that's regularly demonstrated I the press and by every citizen now thinking themselves a banking expert.
Banks and investment banking didn't cause the crash on its own it was government policy, lack of regulation and sub prime lending, also that the economy being allowed to overheat (did Brown really think ave house prices 6x average earnings was sustainable)?
The bubbles already being inflated again, not by the banks but the governments housing schemes 3.7% ave house price increase in July!
If anything the banks need to be left along to get on with their core business like they are in the USA and not overregulated by the EU who are hell bent on breaking the UK banking industry.
Just noticed that parkrun has now got Wonga as a sponsor on its website
Hardly surprising that.
Wonga has ascertained that the reason so many runners do parkruns is because they're too skint to pay for a race.
Just appealing to their core market.
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I could pay 30 pounds for the colorun 5k or I could run a 5k in Hove Park for free. Nothing to do with being skiint. It's just the same reasoning that stops me being skint.
It was a joke.
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Ah, good.
At least not being skint means, according to a survey, that we're better off than over half the country.
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What do some people call skint? Can't afford a holiday? Can't but fuel for the car? Can't buy a packet of fags? Can't repay Wonga?
I regard people skint when their total assets (property, pension fund, cash) add up to less than their debts.
Some fantastic examples of skint around my way. I'm told of one individual who earns a good amount, who bought his £800,000 house on a self certificate mortgage (aka liar loan) and drives an AUDI R8. All borrowed (allegedly).
Our whole economy has been inflated for years by borrowers (like this) who rather than face up to how little money they really have, simply used their earnings to pay interest on a sum of money that they could never save (or even earn).
They've been taking the piss for years. I have zero sympathy for them. They've simply made life more expensive for everyone.
I have one customer who has a habit of giving me a cheque post dated for the end of the month (when they get their pension). We're talking about £10, that's really skint!
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Skint is relative but there are plenty of people who wouldn't be if they managed their money more carefully.
A lad at work is forever jetting off round the globe and has to hide some of his spending from his girlfriend but I had to nag him into putting a mere £10 a month into his pension.
I'm more the school of realism, and I believe this spell will teach the next generation a valuable lesson in life that we had all but forgotten. I did have a loan once, way back in the late 80s, however since then I don't buy unless I have the money in the bank, and when I buy I will never spend more than half of what I have.
Consequently the current squeeze to me, or anyone else who chose this route (note the word Chose) just means I can maintain my standard of living, whilst everything is dropping in price around me.
Maintaining a standard of living.
Some people have very high standards. I was told a couple of days back about a women whose husband died and left her nothing but an enormous debt. A debt that she was unaware of.
Seems her husband liked to keep the subject of money to himself. And, due to his habit of taking delivery of a new Mercedes every couple of years, gave all his chums down at the golf club the impression he was really well off.
Total facade.
Poor women had to sell the house just to break even.
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