NI Presbyterian mutual society, Short of funds for withdrawal?

brick

http://www.staffordcarson.com/2009/06/the-big-issue/

Toastandbutter

is this true?


Radio 4 Money Box programme being aired on Saturday 13 June 2009 at 12 noon on Radio 4 featuring Paul Lewis will be covering the plight of the PMS savers.

joylikes2shop

WOW toastandbutter.... news certainly travels fast..:T... yes it is true (unless they pull it from the show :eek:!!!)


You and Yours Money Box program on Saturday 13 June 2009 at 12 noon on Radio 4 featuring Paul Lewis will be covering the plight of the PMS savers.

It should feature an interview with Ian McGimpsey of the Lobby Group, and it is understood that
the Rt Hon Jeffrey Donaldson MP MLA will also be interviewed.
I received this information and permission to post it here directly from the above mentioned Lobby Group.




In addition to the above, I had a phone call this week from someone from ...
Working Lunch - BBC 2's daytime NATIONAL business and consumer show.Its on daily at 12.30PM
They are hoping to do a piece on the PMS next week .....before Wednesdays meeting with PM (?) ...might be worth keeping an eye out for this next week.

Toastandbutter

I take it we have all asked everyone in our address books to sign the petition with the PM?

http://petitions.number10.gov.uk/Save-the-Mutuals/

And asked everyone in our address books to ask everyone in their address books???

;-)

ballyblack

BBC Radio 4 96FM 12 noon today

here is the link

http://news.bbc.co.uk/1/hi/programmes/moneybox/8096972.stm


.

ballyblack

In addition to the above, I had a phone call this week from someone from ...
Working Lunch - BBC 2's daytime NATIONAL business and consumer show.Its on daily at 12.30PM

Yes its on every day at 12.30 pm except Wednesdays when its on an hour later at 1.30 pm

crazymess

Interconnectedness of all things


« Book review : Bad... | Main | Welsh 1000m race :... »
Is there a difference between savers and investors?

Thursday Jun 04, 2009


The case of the Presbyterian Mutual Society in northern Ireland is s sad one demonstrating the difference between an investment having FSA backing and not. What I don't get is the tangible difference between an investor and a saver, but the minister involved seem to as discussed here.

From Shaun Woodward, Secretary of State, Northern Ireland Office. We have to recognise again that these are not savers; they were investors. As such, they made an investment as risk capital in the form of withdrawable shares and loans. There is an issue about whether or not this should have been regulated; it was registered; it should have been regulated. There is an issue that I continue to want the FSA to look at, but I am not trying to evade our responsibility. If we can find a way to help these people, we should do so. I am prepared to break the bureaucracy to do it, if it is at all possible.



Issues of regulation aside, I would have thought that savers were just investors with a low risk outlook. I expect those who stand to loose here thought they were taking out low or no risk investment with a low risk of capital loss. A lack of the word "risk" in the discussion is worrying.

crazymess

Surely because our capital stayed the same - and we only received dividends yearly - the same as a bank account only it is called interest - this cannot be classed as "investor".

Is the system flawed?

Or should we all along have been receiving profits on our capital amounts???

Or should the shareholders have been receiving extra all along????


Just cannot work the difference between Saver and Investor out - I think that many confuse the word "investor" with "speculator" -

a "speculator" usually invests in capital that can go up or down????

brick

ballyblack wrote: »

http://news.bbc.co.uk/1/hi/programmes/moneybox/8096972.stm

PMS article starts at about 11min 3s
http://www.bbc.co.uk/iplayer/money_box

brick

And here is a written synopsis of the Moneybox broadcast:-

http://news.bbc.co.uk/1/hi/programmes/moneybox/8098778.stm