The FSA shows it true colours once again.
The FSA has effectively dismissed concerns by FOS ( Financial Ombudsman Service) that the banks are consistently mis-selling inappropriate products to the elderly. This follows a massive jump in complaints about Banks.
Late payment Interest penalty increased
Bereaved Families will have to pay more on late payments on IHT. It is frequently impossible to meet the deadline for payment of tax as it may require the disposal of property or pother assets and the sharp rise is being spun by the Revenue as simply a fairer way.
Northern Rock
The former Building Society now nationalised bank Northern Rock has suspended payments on its PIBs ( Permanent Interest Payment Shares). This is only the second time such an action has taken place and follows Bradford and Bingley last year.
Capitalism - A Love Story - M. Moore
M. Moore's latest film release is due for release on the 2nd of October 2009. The new film is "Capitalism - A love story" appears to be an investigation into the President Bush's handling of the Banking crisis.
No matter what you think of Mr Moores or his politics there is a section on the Trailer where he asks the Head of Congressional Oversight "Where is the money" that is just great cinema.
The trailer for Capitalism - A love story is here.
Friday, 21 August 2009
Monday, 17 August 2009
YourMoney.co.uk - Update
Final Salary Schemes.
Final Salary Schemes are very rapidly becoming something that an older generation enjoyed. Watson Wyat has revealed some alarming facts on the number of companies that are either closing or amending their Final Salary Schemes.
Financing Post Graduate Studies
With many students already burdened with considerable debt the difficulty in financing Postgraduate degree. We have added a page and links to sources for advice and help.
Final Salary Schemes are very rapidly becoming something that an older generation enjoyed. Watson Wyat has revealed some alarming facts on the number of companies that are either closing or amending their Final Salary Schemes.
Financing Post Graduate Studies
With many students already burdened with considerable debt the difficulty in financing Postgraduate degree. We have added a page and links to sources for advice and help.
The FSA dithers again...
For those that were still under the illusion that the FSA exists to protect the consumer the feature and article by the MP Ed Vazy will make uncomfortable reading.
From LAUTRO 13 to Bank Charges to Zero Bonds to Banking supervision the FSA has failed the consumer on every occasion while managing to protect is own interests and that of the Banks, Providers and political masters.
This is a organisation that is a complete failure and failure due not the staff but the senior management who bear the complete responsibility for such unmitigated shambles. It appear that almost all of the senior management at the FSA were recruited from the Banks the same banks whose senior management made such a mess.
This time the use of the "wider implications" rule imvoked by teh FSA could not be clearer they are reluctant to explain why these structured products were allowed to be sold as guaranteed and secure, why the ultimate destination - Lehaman Brothers" was hidden for investors. Why did the FSA allow them to be sold and who is going to pay the compensation.?
Structured products and the "Wider Implications rule"
FSA delays again over structured products.
From LAUTRO 13 to Bank Charges to Zero Bonds to Banking supervision the FSA has failed the consumer on every occasion while managing to protect is own interests and that of the Banks, Providers and political masters.
This is a organisation that is a complete failure and failure due not the staff but the senior management who bear the complete responsibility for such unmitigated shambles. It appear that almost all of the senior management at the FSA were recruited from the Banks the same banks whose senior management made such a mess.
This time the use of the "wider implications" rule imvoked by teh FSA could not be clearer they are reluctant to explain why these structured products were allowed to be sold as guaranteed and secure, why the ultimate destination - Lehaman Brothers" was hidden for investors. Why did the FSA allow them to be sold and who is going to pay the compensation.?
Structured products and the "Wider Implications rule"
FSA delays again over structured products.
Saturday, 15 August 2009
Pensioners at risk from Salesman
If anyone had ever any doubts about why an IFA is better than a bank or "Wealth Manager" then the article today in the Times will convince you.
The most disturbing aspect of this story is the salesman and his "Wealth Manager"employer are defending their action following a complaint to the FOS.
Read the article and information on why pensioners are at risk.
The most disturbing aspect of this story is the salesman and his "Wealth Manager"employer are defending their action following a complaint to the FOS.
Read the article and information on why pensioners are at risk.
Wednesday, 5 August 2009
Your Money
New legislation is promised t give some protection to innocent tenants who suddenly find them selves facing eviction after a landlord has not kept up payments on the mortgage.
The Royal Mint is having to increase production of Gold coins to meet demand.
The UK Final salary pension receives another blow to with a report that the deficit in the FTSE companies as doubled. We now only have three companies in the FTSE that offer new recruits a final salary scheme option.
The FSA consumer panel has issued warnings about the complexity of pension options amid the fear that with interest rates low and annuity rates very poor many retiring will choose another route when not appreciating the real risks involved to the alternative.
The Royal Mint is having to increase production of Gold coins to meet demand.
The UK Final salary pension receives another blow to with a report that the deficit in the FTSE companies as doubled. We now only have three companies in the FTSE that offer new recruits a final salary scheme option.
The FSA consumer panel has issued warnings about the complexity of pension options amid the fear that with interest rates low and annuity rates very poor many retiring will choose another route when not appreciating the real risks involved to the alternative.
Monday, 3 August 2009
News- Redundancy - Motoring Costs
Unemployment Redundancy and Lifestyle
Following on form our article on benefits and claiming everything to which you are entitled we see that there is now a feature o how some people are using the fact of redundancy to alter their lifestyle and make changes. Adult Gap years as well as taking to the road in a VW camper are just two examples of families opting out of the rat race on the back of a redundancy payment.
The loss of job for a few particularly those with pay off is being seen as an opportunity rather than a problem.
Motorists hit by rising Costs.
Motorists are facing big rises in car prices effectively wiping out the scrappage benefits from the scheme launched by the government as well as rising insurance premiums partly caused by the increasing fraud over cash for crash and staged accidents.
Following on form our article on benefits and claiming everything to which you are entitled we see that there is now a feature o how some people are using the fact of redundancy to alter their lifestyle and make changes. Adult Gap years as well as taking to the road in a VW camper are just two examples of families opting out of the rat race on the back of a redundancy payment.
The loss of job for a few particularly those with pay off is being seen as an opportunity rather than a problem.
Motorists hit by rising Costs.
Motorists are facing big rises in car prices effectively wiping out the scrappage benefits from the scheme launched by the government as well as rising insurance premiums partly caused by the increasing fraud over cash for crash and staged accidents.
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