Omega Owners Forum

Chat Area => General Discussion Area => Topic started by: Rods2 on 15 March 2012, 00:42:52

Title: They've been up to it again
Post by: Rods2 on 15 March 2012, 00:42:52

Latest bank mis-selling scandal. Making SMEs have complex financial instuments as part of giving them a loan, which has cost SMEs £100k to £1m in losses, but greatly increased bank profits.  >:( >:( >:(

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9139626/Caught-in-the-trap-I-trusted-the-bank-and-saw-it-just-like-a-house-mortgage.html (http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9139626/Caught-in-the-trap-I-trusted-the-bank-and-saw-it-just-like-a-house-mortgage.html)

I'm sure the average fish and chip shop owner (one of the businesses making a complaint) fully understands all of the implications and small print as he signs on the dotted line for a loan.

Banks are laughing all the way to their bonuses as this is not covered by any FSA regulation or compensation scheme, so their only path for any redress in to take the banks to court. Barstewards  >:( >:( >:(

Title: Re: They've been up to it again
Post by: Varche on 15 March 2012, 13:09:52

Wouldn't surprise me if they call their customers "Muppets". ;D ;D ;D ;D ;D