NI Presbyterian mutual society, Short of funds for withdrawal?

D.A.

PMS suffered a run solely because other savings institutions were suddenly covered by a government guarantee and they were not.

Incorrect Declan - the other savings institutions were always covered by the guarantee (the Financial Services Compensation Scheme - apart from the Icelandic banks, if I remember correctly).

And yes, this is why PMS suffered a run, but it doesn't explain why the PMS was apparently being so badly managed that it had left itself without any contingency...

BelfastGran

Declan O' Loane Responded To My Email By Phoning Me Personally,
I Told My Story And That Of Others.

He Was Very Sympathetic And Promised His Support.

Many Thanks To Him

fivealive_2

BelfastGran wrote: »

Declan O' Loane Responded To My Email By Phoning Me Personally,
I Told My Story And That Of Others.

He Was Very Sympathetic And Promised His Support.

Many Thanks To Him

Good on you BelfastGran; a personal "human interest" story is potentially more powerful than pages and pages of facts and figures.
Thank-you.

:grouphug:

fivealive_2

jon_groovy wrote: »

what a farce of a situation where investors have to set up help groups when the church which got many into this mess stand by doing nothing

what is a church all about, is it not caring and looking after peoeple, especially their own

It is better to light one candle than to curse the darkness.:cool2:

expat68

Mr Brown adds, saying the first duty of wealthy countries is to help the "not so wealthy". He refers to lessons learned in his father's church, that "wherever there is hardship … we cannot, we will not, pass by on the other side."

Gordon Brown speech to congress a few minutes ago - if only the governments actions backed up his words.

goodbyepci

expat68 wrote: »

Mr Brown adds, saying the first duty of wealthy countries is to help the "not so wealthy". He refers to lessons learned in his father's church, that "wherever there is hardship … we cannot, we will not, pass by on the other side."

Gordon Brown speech to congress a few minutes ago - if only the governments actions backed up his words.

If only the PCI's actions backed up his words!

crazymess

D.A. wrote: »

Incorrect Declan - the other savings institutions were always covered by the guarantee (the Financial Services Compensation Scheme - apart from the Icelandic banks, if I remember correctly).

And yes, this is why PMS suffered a run, but it doesn't explain why the PMS was apparently being so badly managed that it had left itself without any contingency...

D.A.

I think what is meant here is that the Government - SUDDENLY INCREASED THE THRESHOLD TO £50,000 - THEREFORE MAKING IT MORE ATTRACTIVE TO MOVE SAVINGS TO OTHER INSTITUTIONS :

(A) COVERED BY FSCS
(B) MAKING THEIR TOTAL AMOUNT SAFE - I.E IF YOU HAD 200,000 SWITCHING TO SAY FOUR BANKS

RBS was badly managed and they got bailed out - they also will receive high pensions.

mackm

I have been following this thread virtually from the start.
However it has recently got so repetitive and so boring that I think I will call it a day.
Bye ....

Nomad25

..........

MackM - you haven't exactly livened up or given any notable support to this thread, it's easy to be 'critical from a distance'.

crazymess

mackm wrote: »

I have been following this thread virtually from the start.
However it has recently got so repetitive and so boring that I think I will call it a day.
Bye ....

Mackm

I notice from your previous posts that you too are a saver - just wondering what you have done pro-actively to ensure the return of your savings! Or, are you NOT a doer??

Bottom line is here that many many banks have misbehaved in their lending policies and have got into a real mess - and have been bailed out - so too has the PMS - so therefore why should we, the savers, lose our savings? We put our money into an institution for safekeeping - Gordon Brown said that no British saver has lost any money in the banks or financial institutions.

It is just a little annoying that for some others must feel we don't deserve our money back. and query us - point of note here D.A. - did the RBS AND THE ICELANDIC BANKS HAVE A CONTINGENCY IN PLACE????
We are trying to find a way to get the return of our savings - thats all.