General Chat

In the past 20 years the US and UK and the rest of the world have witnessed

financial chaos.. Greedy brokers and bankers being the cause. One bank that

went bankrupt and bankrupted several financial insttitutions was LEHMAN

BROTHERS. For a while it was granting NINJNA mortgages. No income no job

no assets. Every banker that touched these toxic / loans mortgages made lots

of money, until it failed as it had to. In US many banks failed, Bank of Iceland failed

Northern Rock almost failed, and the same was true around the world. Thousands

lost their jobs, their assets. The CEO of LEHMAN BROTHERS Richard Fuld had to

answer charges, but never the less has a personal fortune of hundreds of millions

in cash and property. Have a look on You Tube at the collapse of his bank it is an

eye opener on the financial world :-0

https://youtu.be/3sm-XGVca3c

https://youtu.be/TAE8i40A5uI

Not the first, David.

I remember learning about the South Sea Bubble (early-1700s) and the 1929 Wall Street Crash. It went on before the 1700s too.

People (and entities if their Financial Executives are taught figures without finding facts) are just plain greedy. They are happy to jump on the bandwagon that promises them questionable, unbelievably-high returns. How do you think some lost millions in scams like that perpetrated by Madoff?

The rule we learned was 'Think for yourself. If it sounds too good to be true, it is.' I think that is still sound advice to teach our children and grandchildren as they grow.

Bernard Madoff turns himself in aged 70 years. His Ponzzi scheme gets him a 150 year sentence.

https://youtu.be/IlFdZT275Ak

ENRON THE BIGGEST FRAUD IN HHISTORY , INCLUDES BOTH PRESIDENT BUSH>

https://youtu.be/e5qC1YGRMKI

David, there are some decent bankers out there :-). I work for an investment bank in New York and we spend a considerable amount of time supporting various charities in different ways :-).

I agree entirely, Piers, and a huge number with integrity ..... but I am biased. :-D

I too am biased. In 2006 my wife inherited a large sum of money I finacial advisor within her bank gave her bad advice, she lost most of it. A large part of monies in her current account went "AWOL". The financial advisor was sacked. His collegue quit as did the branch manager. Tough. My wife never got her money back, TOGHER STILL

You have mentioned this before on the threads, David.

It wasn't your money but were you with your wife when she visited the bank. If not, how can you be sure of the facts?

Was the adviser sacked because of the way he mishandled your wife's money?

How is his colleague connected to your wife's money?

Did the branch manager quit because of what went on with Ellen's money or did he just move on?

How long after 2006 did the manager quit? Was it after or before Ellen wrote with her complaint/grievance?

Is it you who feels aggrieved and not Ellen?

I expect Ellen wrote to the Bank Ombudsman. If not, she may have had good reason so ask her.

If she does not want to talk about it I think you will have to accept her decision.

The collegue who left was the one who introduced my wife to the financial adviser.
He is also the employee who was handling her current account..Becuse my wife was the sole beneficiary, I could not, did not interfere.
I apologise for mentioning the subject again.

I hope those who have it have more luck with it than my wife did.