Jeremy Clarkson had most of his savings invested in AIG?

geoffky

paul mcartneys sister has lost all her savings i wonder will he bail her out/

scousethife

I like clarkson hes my kind of bloke but !!!!ing about in cars then telling people about it hardly comes in as fruits of a lifetime’s graft

The lucky git gets payed to do things I have to pay to do

Brian_Bullocks

fatpig wrote: »

Delighted. Especially as he couldn't resist a racist rant at the Mexicans

I couldn't understand this reference, so many times, in his "article". Why not include the "African Americans" (as the yanks like to call them), or the East Indians, or the "Rednecks" and other people of lower socio-economic status who took out similar loans, and got shafted by the sales people.

michaels

AIG issued a bunch of ETF's (Exchange Traded Funds) - these useful little babies made it was and cheap for people to invest in slightly obscure things like say global mining shares or Soy beans or whatever as if they were locally listed shares without actually investing in the underlying securities in different countries, markets, currencies etc and paying a fortune in commission.

So people thought they were investing in Soy beans or mining co's and no one even gave a second thought to the company who (for a small cut) packaged the stuff up for them...that is until it turned out that the company with a rock solid financial rating that did the packaging got in to liquidity troubles at which point all these seemingly unconnected products all turned out to hinge on that one company which was AIG

WTF?_2

PasturesNew wrote: »

He can earn more though.
If the likes of you or I lost ours that'd be it.
No TV programme bookings at fat fees to talk about it.
No extra promotional work booked into our diary.
No book deal for us to write about it.

Still, no-one should have to face losing their life savings. Not even a smug git like Clarkson.

Though somehow I doubt this is the full story.

(agree with the other poster on the Mexican insult. If he'd said 'black' he'd be headline news now)

purch

no-one should have to face losing their life savings

AIG is 80% owned by the U.S. Government so he is hardly likely to lose a penny...

AIG issued a bunch of ETF's (Exchange Traded Funds

AIG have never issued an ETF. They insure some, not issue them

Conrad

Those that have thier wealth tied up in the shares of just e few companies are also in need of a good shake.

edwinac_2

Brian_Bullocks wrote: »

I couldn't understand this reference, so many times, in his "article". Why not include the "African Americans" (as the yanks like to call them), or the East Indians, or the "Rednecks" and other people of lower socio-economic status who took out similar loans, and got shafted by the sales people.

No surprise.

Clarkson went to Haileybury School, known formerly as the East India Company College.

The college is notorious for churning out imperialist cranks (and quite a few paedophiles, too).

Max_Headroom_3

A lot of what Clarkson writes is for effect, journalistic licence if you will. So no of course he hasn't got all his money tied up in one institution, he's writing it that way to demonstrate the point he's making.

Likewise the Mexican not paying back his mortgage. He's using a simple example to demonstrate in easy to understand terms how seemingly unrelated financial situations are linked. (incredible how the PC Brigade can pull the racist card out of that simple example, just goes to show how much "racism" is just invented by people getting "outraged". Sad really).

Love him or hate him, Clarkson is the master of getting the point across effectively with a few broad brush strokes. It's why he is so successful, and we all like to knock a success don't we? :rolleyes:

Realy

!!!!!!? wrote: »

Still, no-one should have to face losing their life savings. Not even a smug git like Clarkson.

Though somehow I doubt this is the full story.

(agree with the other poster on the Mexican insult. If he'd said 'black' he'd be headline news now)

Agreed.
But would you not argue (and some on here take great glee on here about it)
That someone having their house repossesed which they brought 7-10 years ago would be loosing their life savings (as auction prices are so low)?
I know it is a debt but they have been paying it back and at the end it would be theirs.

I think their is a failure to see saving at high interest rates = Investing
Borrowing and repaying = Investing (all be it on credit)

I am not saying either should loose but both can suffer in turbulent times.