NI Presbyterian mutual society, Short of funds for withdrawal?

OldJohn

Re the FT article and reply - a bit like the spotlight programme - all hype and headlines and little fact. Oh to have someone in the media who knew the meaning of honesty & integrity. None seem to know the meaning of Mutual either!

expat68

OldJohn wrote: »

Re the FT article and reply - a bit like the spotlight programme - all hype and headlines and little fact. Oh to have someone in the media who knew the meaning of honesty & integrity. None seem to know the meaning of Mutual either!

I am afraid the media headlines are driven by the lack of facts and information from the administrator, the directors, the PMS secretary, the PCI and the DETI. In the absence of facts the inevitable consequence is speculation - I am sure if the administrators and directors were to provide some facts these would be accurately reported. This is also the FT and not the Sun so I think the quality of reporting is as good as you are going to get in the absence of any comment from those who know the answers to the questions we are all asking. If we go through this thread from the beginning there are endless valid questions which all deserve and answer - all we have from those who know is a deadly silence.

portstewart

... and not forgetting the Church's role in "advising" members that PMS was a suitable home for their savings.

crazymess

Expat

Why was Barry Gardiner MP writing this report?? notice the date May 2004

Was he the person given the job re Treasury?

fivealive_2

portstewart wrote: »

... and not forgetting the Church's role in "advising" members that PMS was a suitable home for their savings.

Welcome on board "Portstewart"
:hello:

expat68

crazymess wrote: »

Expat

Why was Barry Gardiner MP writing this report?? notice the date May 2004

Was he the person given the job re Treasury?

Barry was made Parliamentary Under-Secretary of State for Northern Ireland in April 2004 - makes sense

brick

crazymess wrote: »

I wonder why we didn't have protection - was it that the PMS couldn't get covered

I have been led to understand that PMS declined to be part of the compensation scheme at some point, but am unable to substantiate that assertion. I have no indication why or when.

crazymess

36square wrote: »

A fair enough summary DA.
It would be interesting to know what triggered the withdrawals. can hardly have been the guarantee issue alone for there was already a guarantee in place unless the publicity attending the increase to £50,000 alerted some people to its existence .
An earlier post exonerated the banks but their 'wealth managers' are normally rewarded according to the amounts they gather up for their employer to manage. It would have been natural, if cynical, for them to exploit the absence of a guarantee for PMS for their own ends.
The only way light will be shed on this is if those who withdrew explain why they did. This would be an ideal forum for them to do so under the protection of anonymity.
Goodbyepci
As a point of information a 'buy-to-let' is normally a secured loan as would a loan to puchase development land.

36 square

Understand your point re secured loan on buy-to-lets and development land - but can we reinforce this - that those of us who telephoned in early September were not told about these - we would have ran with our money had we heard this information - it was held back from us. And Secured or not - the land is not worth the value of the paper it is written on!!!!!!

PhilMcGee

Ive been logging onto this site for nearly a year now and have found it very useful and informative in so many areas. HOWEVER ....... until now i have never registered with this site, and being totally honest the reason why is that ive never had any really useful information to share, or felt strongly enough about anything to want to post anything......UNTIL NOW ! !


I do feel strongly about something now that has motivated me to join. Its this forum thread ! !


I find this thread has become so dull, tedious and especially repetitive that someone needs to point this out to many of you. The bottom line is, the situation is as it is, and the only thing that will improve it is time. Im not a believer that petitions are a great influencer to anyone as these can be manipulated with individuals potentially signing many times, their kids signing, imaginary friends signing, as well as the household pooch signing (again probably many times too), while his paw is directed by his master.

TIME PEOPLE IS A GREAT HEALER ! !

PRAYER IS AN EVEN STRONGER HEALER ! ! ! ! ! !


Can i also encourage you good people of PMS to visit the scriptures and particularly Hebrews 13:5 . I quote :-


" Keep your lives free from the love of money and be content with what you have, because God has said, "Never will I leave you; never will I forsake you."


In the meantime can i suggest you get a life and get on with it !


And as a few of you guys here know me, please don't come back to me and say its ok for me cause im already very wealthy. That may be true but im still entitled to my opinion, and my opinion is that im so bored with this whole PMS situation.

Phyl

joylikes2shop

Thank you for your opinion Phyl, :rotfl: biblical references,:T and declaration of personal 'wealth':eek: .......but I cant help wondering why you've felt compelled to continue following this thread when you find it so ''dull, tedious and especially repetitive''
This thread may bore you, the petition may not serve any purpose (in your opinion) and prayer may help those who believe in it- but maybe YOU '' should get a life and get on with it !'' and stick to the many threads on this wonderful site that do interest you. :j :j
Thanks again for your helpful,compassionate and thought provoking comments :rotfl: :rotfl: :rotfl: