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[MSE Lawrence]

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's "FSA Consumer Panel: Its view and mine" Blog.

Click reply to discuss below.

[Ray Williamson]

It seemed like a very useful meeting.
Another concern is that company shareholders who hold their shares in nominee accounts (run by stockbrokers etc) do not receive the annual report and accounts, nor have a vote. All these are things which shareholders are supposed to be entitled to as of right.

[Ian Hartup]

As a car sales executive and a former DFS employee I have been regulated to death by the FSA over the last five or so years. My employers no longer sell PPi or any such policy due to the FSA and Mr Lewis's stance on this does not help. I fear that a vast number of people are only now going to regret claiming that policies of this type were mis-sold to them when they suddenly could really do with its cover. People to whom the policy is very appropriate came up with a whole host of 'interesting' reasons to get their money back. I fear this may prove to be short sighted. I have been made personally redundant a number of times in the last 20 years, Without appropriate PPi policies I would have lost my home on two occasions.

Where will this kind of thing end.

Ian

[MSE Martin]

Originally Posted by Ian Hartup

As a car sales executive and a former DFS employee I have been regulated to death by the FSA over the last five or so years. My employers no longer sell PPi or any such policy due to the FSA and Mr Lewis's stance on this does not help. I fear that a vast number of people are only now going to regret claiming that policies of this type were mis-sold to them when they suddenly could really do with its cover. People to whom the policy is very appropriate came up with a whole host of 'interesting' reasons to get their money back. I fear this may prove to be short sighted. I have been made personally redundant a number of times in the last 20 years, Without appropriate PPi policies I would have lost my home on two occasions.

Where will this kind of thing end.

Ian

An interesting point Ian, yet I am pro-PPI for the right reasons . Just not bank based PPI that costs 10x too much and when its missold. The PPI relaiming guides make this very clear, and show people how to get the cover for less.

All the best

Martin

[lippistix]

AN IDEA TO OVERCOME THE RECESSION/DEPRESSION IN THE UK
POSSIBLE TURNAROUND WITHIN TWO MONTHS

Economies are consumer lead, therefore people of the UK need confidence to start spending again.


Pouring money into the failing car industry for instance is only a short term solution: What happens when there are still no orders for new cars a few months down the line? Companies and employees will be back to square one with their jobs no more secure than they are now.


An idea for recovery is for the government to give each of the UK's adults, in principle, a sum of around five to ten thousand pounds to be spent only in the UK, within say a six month time limit. These funds may be realised by way of vouchers or coupons.


This money can be spend as an example; paying off a debt or mortgage, buying a new car or household goods (British made or foreign imports), or even holidaying within the UK!


Something along these lines would once again stimulate consumer spending thus kick start the economy. Would be a good balance to boost all sectors from manufacturers to shop workers. This seems preferable to throwing billions at failing individual industiries such as cars, and be a cheaper solution for the tax payer in the long term. Ultimately the tax payer would pay for all this, (as would with bail outs anyway), so it would be good for 'the man on the street' to benefit – for once!

Thank you for reading, I would be interested to hear your thoughts?

Kind regards

Teresa

[anley1]

I agree with you Martin and so should Ian.

PPI on paper is a great idea and one that many people should consider. However, whereas we all know the cost of a pint or can of Coke nobody really knows the true cost of insurance.

This therefore gives the greedy banks and finance companies a licence to sell something that's worth say £1 for £5, £10 or even higher. Which is exactly the case with PPI.

So the banks ripped everyone off and therefore paid the price.

Ian - If your employees really wanted to help their customers then why did they sign up to selling the PPI that paid the fattest commissions? You could have sold reasonably priced PPI.

Don't blame Martin, blame the greed of the people you worked for and of course the banks.