My OperaOn a virtual planet somewhere, I'm rich.
Tuesday, September 18, 2007 11:30:48 PM
Yup. If I'd done what I suggested yesterday and bought stock in Northern Rock I'd already be showing a profit. It happened faster than I thought because the government decided to issue a guarantee that all monies invested in NR would be backed up by we the people. Actually they claimed that it was being backed up by them, but I don't see the cash coming out of their pockets.
And what do I think of this turn of events? I can see you're wondering.
Dumb, dumb, dumb, and dumber than that, to be perfectly honest. You can't go around promising to bail out one industry without all the rest wanting a share. Mark my words, Grasshopper, the rush starts here. It won't be restricted to business either. I'm thinking that the pensioners who lost out on various mishandled pension funds will be politely enquiring if the government would like to provide similar backing for their funds.
I lost a few quid with an Australian insurance/assurance company that decided the market over here was too tough and went home, leaving my policy in limbo, the interest rate dropped to 1% but I couldn't cancel because the early cancelation clause was horrendous.
My claim for government assistance is in the post. :holding my breath:
And what do I think of this turn of events? I can see you're wondering.
Dumb, dumb, dumb, and dumber than that, to be perfectly honest. You can't go around promising to bail out one industry without all the rest wanting a share. Mark my words, Grasshopper, the rush starts here. It won't be restricted to business either. I'm thinking that the pensioners who lost out on various mishandled pension funds will be politely enquiring if the government would like to provide similar backing for their funds.
I lost a few quid with an Australian insurance/assurance company that decided the market over here was too tough and went home, leaving my policy in limbo, the interest rate dropped to 1% but I couldn't cancel because the early cancelation clause was horrendous.
My claim for government assistance is in the post. :holding my breath:
