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Presbyterian Mutual Society - the story that will not go away


azogar
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On 07/12/2018 at 16:52, Alistair Campbell said:

https://www.bbc.co.uk/news/uk-northern-ireland-46476101

 

Looks like the 25 million from Stormont won't be paid back.  But they hope to pay back investors.  Taxpayers money should have priority and be used for more worthwhile causes like waiting lists at hospitals.

Fully agree. These greedy so and so's were happy to invest hoping for return, but when it all went wrong, they play pauper and out comes the begging bowls.  

Yes some were/may have been misold by their brethren, but that's their beef.

This money should be paid back (to us the tax payer!) with interest that reflects their credit risk (high).

A real glimpse into the rotten core of fanatics at work in this country. Only the naive would think this was simple investment vehicle, it wasn't. It was an exclusive club designed to land grab, develop for return and with added benefit of keeping it out of the hands of them ens.

What was all that stuff about rich men, camels and through the eye of a needle?

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  • 2 years later...
On 11/03/2019 at 21:02, top_dag20001 said:

Fully agree. These greedy so and so's were happy to invest hoping for return, but when it all went wrong, they play pauper and out comes the begging bowls.  

Yes some were/may have been misold by their brethren, but that's their beef.

This money should be paid back (to us the tax payer!) with interest that reflects their credit risk (high).

A real glimpse into the rotten core of fanatics at work in this country. Only the naive would think this was simple investment vehicle, it wasn't. It was an exclusive club designed to land grab, develop for return and with added benefit of keeping it out of the hands of them ens.

What was all that stuff about rich men, camels and through the eye of a needle?

Very true, a real sense of entitlement is at the core of this.  But neither side have a jot of time for self reflection.  Look at recent funeral arrangements and this bail out of a scheme run by a church).  It does make you wonder why people can’t see the true nature of NI politicians (opportunists, who divide and rule with one rule for us and one rule for them)

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7 hours ago, Canyon78 said:

BBC News - Presbyterian Mutual Society: Savers face new financial blow
https://www.bbc.co.uk/news/uk-northern-ireland-56361369

 

And still it goes on....

DUP Strangford MP Jim Shannon could donate some of his record parliamentary expenses to soften the blow for some of his constituents who would lose part of their life savings.

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8 hours ago, satsuma said:

Very true, a real sense of entitlement is at the core of this.  But neither side have a jot of time for self reflection.  Look at recent funeral arrangements and this bail out of a scheme run by a church).  It does make you wonder why people can’t see the true nature of NI politicians (opportunists, who divide and rule with one rule for us and one rule for them)

Very true. Two sides of the same coin. Division keeps them in power and keeps the expenses flowing. 

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