Tuesday, Dec 08, 2009
Gamblers lose - shock horror
Guardian: Northern Rock Shareholders not to get dosh
OK so some "poor old ladies" had their life savings in NR shares. They should have listened to their mother's advice about eggs and baskets....
Posted by chrisch @ 10:46 AM (486 views) Add Comment
1 Comment
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1. a saver said...
Well supposedly we had the FSA keeping an eye on the banks so they couldn't make outrageous gambles with money they didn't have. So it did seem that blue ship bank shares were a safe enough investment to form a substantial proportion of one's retirement savings. I agree that diversification is wise, caveat emptor etc but it is outrageous that people didn't know what they were buying into (no I did not own NR shares). It's very sad and I can foresee unending litigation over this.