Jeremy Clarkson had most of his savings invested in AIG?

Realy

mewbie wrote: »

using the controversy generated as self publicity. Some people like it, some people don't.

Well he is not the only one mewbie.;)

baby_boomer

If he really does have all his savings in a dodgy AIG investment vehicle [which I doubt], then it couldn't happen to a nicer man.

WTF?_2

Max_Headroom wrote: »

So if he referred to "an Englishman not paying his mortgage" would that be racist? How about "a man not paying his mortgage", sexist perhaps? "A person not paying their mortgage" could maybe be speciesist?

How about if I write "I saw a tall man climb out of a car", am I heightest? And if so would you decide that I was being heightest against tall people (cos it was a tall person mentioned), or shortist as it wasn't a short person mentioned?

:rolleyes: !!!!!!, mentioning a detail when describing someone or something does not make the comment anti that detail. Mentioning a Mexican not paying their mortgage is NOT even in the most loony leftist sense racist.

Clarkson actually singled out Mexicans in the example. The implication was "!!!!!! are banks thinking, lending my money to 'unsafe' people like that?".

:rolleyes: One more question, are you Mexican? Or did you just decide to become "outraged" on their behalf?

I'm not particularly 'outraged' - what gave you that impression?

However, I do note a bit of snide racism and scapegoating when I see it ... if Clarkson wants someone to blame or stereotype perhaps he should look to the 'snout in the trough' bankers he dines with first..... :rolleyes2

Raffles99

It is very likely he is telling the truth. Some of my colleagues also had all of their spare cash in AIG.

The reason is this - if you bought savings bonds in insurance companies, you are covered by the UK Government for 90% of the entire amount. Compare that to the usual £35k (soon to be £50k) protection. AIG was, by a long long way, the biggest seller of these savings bonds in the UK.

Interest rates were not very high (4%+) BUT due to a tweak in UK tax law, 40% taxpayers only paid 20% tax on the interest and basic rate taxpayers didn't pay any tax at all. These made them almost as attractive as a decent building society account but with 90% of your money guaranteed. Which, if you've got £5m to save, is a great improvement on £35,000 guaranteed.

The only way to buy these bonds was through a couple of specialist brokerages, which is why it is realistic that he needed his private banker at UBS to do it for him.

Max_Headroom_3

!!!!!!? wrote: »

Clarkson actually singled out Mexicans in the example. The implication was "!!!!!! are banks thinking, lending my money to 'unsafe' people like that?".

He didn't "single them out", he used one example to demonstrate (in a broad brush stroke sense) how various financial empires were interconnected (ie you invest with an insurance company in America, and someone in a completely different country with a very different product has an impact on that). He didn't insult Mexicans, he didn't say all Mexicans were defaulting on their mortgages, or unable to control their finances, I can't see any "attack" on Mexicans in his story at all.

But then maybe I'm just not trying hard enough...

I'm not particularly 'outraged' - what gave you that impression?

However, I do note a bit of snide racism and scapegoating when I see it ... if Clarkson wants someone to blame or stereotype perhaps he should look to the 'snout in the trough' bankers he dines with first..... :rolleyes2

How about BLACKboard, or MANchester. You can find racism, sexism, agism, everywhere if you want to badly enough.

WTF?_2

Max_Headroom wrote: »

He didn't "single them out", he used one example to demonstrate (in a broad brush stroke sense) how various financial empires were interconnected (ie you invest with an insurance company in America, and someone in a completely different country with a very different product has an impact on that). He didn't insult Mexicans, he didn't say all Mexicans were defaulting on their mortgages, or unable to control their finances, I can't see any "attack" on Mexicans in his story at all.

But then maybe I'm just not trying hard enough...

You don't have to try very hard to see that he's mocking lending to the stereotype of 'the impoverished mexican immigrant' to the US as being a prima facie example of the foolishness of the banks.

It doesn't mean I think he's a screaming racist - I just don't like to see people picking on easy targets and reinforcing pejorative stereotypes,

How about BLACKboard, or MANchester. You can find racism, sexism, agism, everywhere if you want to badly enough.

Oh come on now! Clearly this is a bit of a pet issue with you (and I'm not fond of over-PC-ness myself) but I never got into that realm of 'right on-ness' in my issue with Clarkson's article.

Max_Headroom_3

!!!!!!? wrote: »

You don't have to try very hard to see that he's mocking lending to the stereotype of 'the impoverished mexican immigrant' to the US as being a prima facie example of the foolishness of the banks.

I do have to try very hard actually. It's like I said before, if he'd said "they leant it to some bloke who then didn't pay his mortgage" would he automatically be mocking all men in your opinion? Because it's the same thing, just substituting men for Mexicans. (Incidently, where did he say immigrant to the US?)

And yes, people who leap on any mention of any enthic group as automatically "racist" is a bit of a pet hate with me, indeed I feel that it borders on racism in itself "oh those poor Mexicans, so impoverished and not as good as us, he must have meant that and I must stand up for my weaker brethren".

I think we'll have to agree to differ on this one, as I normally have a lot of respect for your posts.

WTF?_2

Max_Headroom wrote: »

I do have to try very hard actually. It's like I said before, if he'd said "they leant it to some bloke who then didn't pay his mortgage" would he automatically be mocking all men in your opinion? Because it's the same thing, just substituting men for Mexicans. (Incidently, where did he say immigrant to the US?)

The immigrant is part of the stereotype. Although the USA is a nation of immigrants, there's a perception that US society is a about being a WASP and that those with darker coloured skins are somehow the 'immigrants'.

With the ever-increasing Latin population there's a lot of fuss there at the moment about Mexicans 'taking over the country'.

And yes, people who leap on any mention of any enthic group as automatically "racist" is a bit of a pet hate with me, indeed I feel that it borders on racism in itself "oh those poor Mexicans, so impoverished and not as good as us, he must have meant that and I must stand up for my weaker brethren".

I gave the context for where I think the banker/Clarkson was coming from in the NY Times quote which noted that the Fannie Mae action to open up mortgages was aimed in some part politically at enabling Hispanic and Black minorities to get mortgages where they couldn't before (for perfectly good economic reasons).

It's telling that Clarkson didn't have the courage to pick on the black community to give as an example of poor lending as he knew there would be a s***storm of protest.

I think we'll have to agree to differ on this one, as I normally have a lot of respect for your posts.

We're not differing on the issue of political correctness - you can see where I stand about all the namby-pamby nomenclature in this thread if you follow it:

http://forums.moneysavingexpert.com/showthread.html?p=12325361#post12325361

I suspect we may have similar views about those who cry 'racist' Wolf.


But ask yourself, what is Clarkson getting at when he says:

It’s my money. I gave it to you. You’ve squandered it on a Mexican’s house in San Diego

Why on earth did he feel the need to use that phrase? The bottom line is that he's having a joke at the expense of the stereotype image of the Mexican that pervades the US.

He knew it wouldn't cause him problems in the UK but I doubt he'd have felt able to write "It’s my money. I gave it to you. You’ve squandered it on a black guy's house in San Diego".

Max_Headroom_3

!!!!!!, I take your point.

I think you're wrong, and that it was never meant that way by Clarkson, but I understand where you're coming from.

WTF?_2

Max_Headroom wrote: »

!!!!!!, I take your point.

I think you're wrong, and that it was never meant that way by Clarkson, but I understand where you're coming from.

I think we can all agree that Clarkson is a kn0b