Apparently the financial services regulator and the then Government knew some time ago that this company was in difficulties, yet did little or nothing to minimise the potential for problems until it was too late.
Therefore the Government has some responsibility for the eventual outcome - it seems Yvette Cooper has apologised, according to the brief mention I caught on this afternoon's news.
My mortgage endowment pays out this year and will fall short.
I've just turned 60 and equity values have slumped and annuities are at an all time low, so not the best time to take out a pension.
My savings income has crashed.
Now I'm expected to finance others with mortgages, those that want to buy cars, those that save money in dodgy banks and now those that invested in schemes that offered rates that were too good to be true at the time.
I'm with Oresome on this. I feel that I am paying for everyone in this country and getting naff all in return apart from a lot less interest.
Would Gordon Clown and his bunch of Beakers care to pay me for the number of times that I bought shares and lost money or stuck 50 squid on the nose of some hapless nag that is still running? Personally I would have been better off getting pregnant at 15, racking up my credit card debts to the GDP of Malta, getting a totally unpayable mortgage
...and apparently I am now to subsidise the ruddy car industry as well as the banks, the jobless, the skint companies and stab me vitals, a 3 week jamboree in 2012. I might as well cough up for that Kaka player who Man. City want to buy, as I am being financially rogered to within an inch of my wallet. Buddy, can you spare a dime?
Yes, I also feel that everyone who has suffered any kind of financial misjudgement (except myself, of course) can come and pick my pockets. Much though I feel for the Equitable 'losers', I think there are far better things for the government to spend my hard-earned on.