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TheCountOfNowhere

Northern Rock losers want their money back

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You could not make this up.

 

http://news.sky.com/story/northern-rock-shareholders-must-be-compensated-11033737

 

Northern Rock shareholders 'must be compensated'

When Northern Rock failed, thousands of people, many of them small shareholders, lost their savings and their fight continues.

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While they're at it could they please get back my £10 stake from the 3:40 at Aintree last week.

I also once bought a watch off a Lucky Lucky Man when on holiday that broke as soon as I got home. Surely that can't be fair either so who do I see for compo?

Edited by doomed

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I bought a Lucky Dip in the National Lottery. Turned out although it authentically was "Lucky" it was only lucky for them, and not for me as I was led to believe. The sales collateral did not make this clear therefore an obvious case of mis-selling. I phoned them asking for a settlement but there was a fault on the line with a lot of noise and I got cut off.  They will be hearing from my lawyers.

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I once bought 5k worth of shares in a bus manufacturing company which shortly afterwards went bust (no pun intended). I lost the 5k. I wonder if this works out for the NR losers, will I be able to claim my 5k back too?

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Just now, Unexpected said:

I once bought 5k worth of shares in a bus manufacturing company which shortly afterwards went bust (no pun intended). I lost the 5k. I wonder if this works out for the NR losers, will I be able to claim my 5k back too?

No I think it's more likely the NR people will be thrown under the bus too. If we do see them getting compensation then it will be a good indication that the government is looking for PPI-style opportunites for helicopter money though.

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1 minute ago, Errol said:

I don't think the people who lost on shares actually understand what the stockmarket is and how it works.

Quite...Provident Financial has just lost two thirds of its value lending recklessly. May be they will be wanting Compo next because the CEO might have been economical with the truth.

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22 minutes ago, Errol said:

I don't think the people who lost on shares actually understand what the stockmarket is and how it works.

If you're a boomer and your speculation fails you get bailed out anyway. What's not to understand.

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Wonder how many still have a together mortgage, with what became the NRAM side of the rock, last I heard they were paying almost 10% interest when their fixed rate came to an end, most unable to move.

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2 hours ago, Andy T said:

Wonder how many still have a together mortgage, with what became the NRAM side of the rock, last I heard they were paying almost 10% interest when their fixed rate came to an end, most unable to move.

They're probably still treading water in the same houses as no one would give them a deal to get out, unless they were repossessed. 

I know of one. It took him 9 years to finally get out of his IO mortgage and move to a repayment one through a broker - very high IR. 

Of course he feels he's a victim and should be compensated. 

 

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12 hours ago, Si1 said:

If you're a boomer and your speculation fails you get bailed out anyway. What's not to understand.

I'm assuming that the ones wanting their money back are well heeled grannies that got into their shareholding via free shares on flotation and then got carried away by adding more. Are these "victims" more equal than your average Johny who loses his shirt...you bet. Titanic rules still apply with lifeboats.

Edited by crashmonitor

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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