This is a collection of thoughts and statements about things that annoy me. I am a big, angry man. Hear me roar, or piss off and give me peace.

Wednesday, November 22, 2006

Meddling MSP blames bank for Farepak failure

Well, apparently some ne'er do well in the wee pretendy parliament is calling for a boycott of HBOS due to the (correct) judgement not to continue Farepak's huge overdraft.

Elaine Murray thinks HBOS is to blame for Farepak being unable to run a profitable business, and that HBOS should be boycotted as a result. Does she think HBOS are a charity?

She is quoted in the BBC article:

"These are hard-working, prudent people, who prefer to save rather than take out a loan or use a credit card, who do not know how to explain to the children than Santa won't be coming this year."


Well, why didn't they invest the money - maybe even a wee savings account? I'd ask why we elect fuckwits like Elaine Murray, but when her constituents can't even use a bank account, are we really surprised?

1 comment:

Angry Steve said...

We are talking about paying in advance for a Christmas hamper.

I am a bit confused why anyone would buy now and receive later. This is the only implementation of this purchase model I can think of...

(I have to admit to agreeing with you on the vast quantities of debt in society in general though...) But still, I fail to see why anyone would do this when they could put the money into a bank account and earn interest on it then buy a hamper if they wanted when they have saved enough money...

Maybe I was just brought up to save up for things?

If these people had used a bank, hell, even if they had used a biscuit tin in their kitchen for this, they would not be in this mess...

Don't get me wrong, I think the management of Farepak should have their asses handed to them over this, but come on - had the "investors" invested in more sensible ways...

I think that had this been a big company with a bunch of regular shareholders who had just lost out, we'd not be having this discussion because it would be barely newsworthy, and shrugged off - mostly because the socialists out there would say "oh well, that's capitalism for you and serves the pig-dogs right".