10 Feb 2015 17:19:07
Just something I've always wondered - why are banks paying compensation for PPI? Surely if financial industries are ran by the elite few, hell bent on profit engineering, they wouldn't make themselves appear weak and open to being effectively sued by the general public?
jagile
{Ed002's Note - Because it was found that financial institutions sold PPI illegally. It is not something they have control over.}
But who proved that? Surely if they can get away with fixing exchange rates (as they do without getting caught, until recently) along with their other financial crimes, they should be able to get away with PPI, since they could make such allegations never come to light if they really are as powerful as we think? Or is this a sign of banks beginning to lose their power?
{Ed002's Note - No, it is much, much simpler than that and there is no conspiracy. The mis-selling became evident to the ombudsman 7 or 8 years ago and the banks initial arguments failed.}
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Surely if libor rates have been manipulated by certain banks there is a chance that many of us have been paying inflated mortgage rates above what they probably should have been. It's something that was murmured about a couple of years ago when it came out but not a lot since.
{Ed002's Note - There were fines, settlements, reforms and a new regulator. It is over, that is why there is nothing newsworthy right now.}
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10 Feb 2015 19:23:54
I also remember something about people claiming back money for overdrafts' and bank charges that were shown to be way beyond what was reasonable, but that was quickly overturned and covered up.
I also remember something about people claiming back money for overdrafts' and bank charges that were shown to be way beyond what was reasonable, but that was quickly overturned and covered up.
{Ed002's Note - You don't seem to be very good at keeping up with any of this - and then think it must be some sort of conspiracy.}
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