Every bank and lender sold ppi. Some years ago I spoke to the Co op and arrnaged a personal loan and when the paperwork arrived, it included ppi. I had been asked and I specifically refused ppi but they added it anyway. They replaced th paperwork without ppi added. Every Director, Manager, Section Leader and Telephone Salesperson was in on this scam. The only way to avoid future happenings on this scale was to ban commission led sales.
For some years in the '90s I worked for the Prudential. I can remember sales meetings when the Branch Managers were showing us how to get better figures and commission, and not put the clients needs first. On PEP sales they didn't want to see lump sum payments. They wanted the clients to pay their maximum £500 per month and this would give the sales agent and branch 10x better figures and commission. They told us make the case for pound cost averaging and we would benefit in our pocket.
kassam83 - for me its still got to be Lloyds - as you say probably 3 x more shares and will be the first to pay a dividend - but tsb will have no legacy issues and down the line can see them possibly being taken over
Again a Sunny morning where I live.I see the markets everywhere have moved South. Iraq situation, Mansion House speech, BoE hint at putting up interest rate , all had predictable effect. All this is coming at a time LLOY is selling TSB. Let us hope that most people will have applied already. I see the price for TSB going at 245p , or a bit more .Would anyone like to have a go at guessing? Hope the market regains the momentum GLA
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