I was under the misapprehension that the basis of insurance
was shared risk. It appears that insurers are more and more able to
manipulate data to assess risk individually, which is the antithesis of what
insurance should be. But, to be fair to them it is clearly very good
business for the insurers to ultimately have risk free premiums paid to them.
Money for nothing! This slow corruption of the whole insurance market
must stop!
Wednesday, 28 November 2012
UBS fined £29.7m
So the FSA has fined UBS £29.7m for its inability to do the job it is paid to do. Am I surprised? I'm afraid, no!
http://www.bbc.co.uk/news/business-20492017
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http://www.bbc.co.uk/news/business-20492017
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Sunday, 11 November 2012
Lord Green and HSBC (update)
On 5 November 2012 the BBC reported that HSBC (under Lord Green's stewardship) has been fined £500 million by the US authorities for money laundering. There are further investigations in Mexico and Switzerland. Then on the 9 November 2012 the BBC reported that the names of 4000 HSBC customers had been released to HMRC and the press. It is reported that some of these offshore bank accounts in Jersey belonged to serious criminals.
How can anyone trust HSBC or its leaders? Why does it still have any customers? And, why does Lord Green still have a job in the Government? This all happened on his watch and so he should do the decent thing. Sorry, but does no one else think that it is wrong that Lord Green has a job that us tax payers pay for in the light of this evidence? I mean a £500m fine for a banker is small change but it is significant to the rest of humanity. And then these Jersey accounts as well as other investigations?
How can anyone trust HSBC or its leaders? Why does it still have any customers? And, why does Lord Green still have a job in the Government? This all happened on his watch and so he should do the decent thing. Sorry, but does no one else think that it is wrong that Lord Green has a job that us tax payers pay for in the light of this evidence? I mean a £500m fine for a banker is small change but it is significant to the rest of humanity. And then these Jersey accounts as well as other investigations?
Friday, 2 November 2012
Monday, 15 October 2012
Police Love Every Body!
"Sticks and stones will break my bones but words will never hurt me!" Apology given, apology accepted, for goodness sake move on. There are bigger issues at stake ... like ....THE ECONOMY!
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