Member Info for Richard365054

To put it into perspective, if the PPI compensation had been paid out as dividends, each share held would have received 31.5p. It is mind blowing how the shareholders have been treated by successive Boards.

lti, whether that is the case for not, the Banks systematically and deliberately added ppi to loan agreements and the training and procedures for staff to facilitate this will have been formalised by the Boards and passed to Managers and Department Heads to carry out. The whole affair was an organised campaign in how to mis sell and sadly there is no one behind bars. No doubt one day another will rear it's head but until then, there is no visible deterrent.

Has anyone seen any specific details regarding the number of claims that Lloyds received in the final two month window of 2019. Or the ratio of upheld to rejected. I would reiterate again that besides the £2.45 Billion set aside in 2019, Lloyd's had an additional £1.3 Billion unused in March 2019. At an average settlement of £2,500 that allows 1.5 Million payments to be made. Apparently, there are approximately 6,000 staff or agency workers employed directly on this PPI debacle. And still the Board enjoy their a la carte lunches and quaff their wine, safe in the knowledge that no one will ever be prosecuted for the greatest fraud in UK banking history.

I can't imagine anyone would allow Lloyds to count the contents of their piggy bank let alone calculate the final amount of their PPI compensation bill. To say they have been inept and misleading is an understatement. Crass to the extent of deliberately misleading statements would be more accurate and even to the extent of intentional lies would probably be nearer the truth. To suggest they have been in any way professional during the whole debacle would be a gross overstatement. As so called professionals they have behaved appallingly and given the shareholders a disgraceful decade of conceit with no one held to account and at the same time rewarded themselves like children in a candy shop. I have little faith that any of them are worth their positions on the Board.

Over the last four years they have repeatedly said that there would be no more ppi provision. I have pointed this out many times. In March 2019 they announced they had £1.3 Billion remaining which would cover the level of claims then running at around £140 million per month. Then at the end of the first quarter they added an additional £100 million and then another £550 at the end of the second quarter. Then comes the end of July and they make a statement that the number of claims has accelerated to 190,000 per week. However, they also commented that only 10% of claims were being upheld which did not appear too worrying as this would suggest a weekly cost to the bank of £50 million, bearing in mind that the beginning of year provision allowed for just over £30 million per week.

But then the shock in September/ October of another £1.2 to £1.8 Billion that had to be set aside, meaning a total for 2019 of £2.45 Billion, not forgetting the £1.3 Billion that remained in March 2019. A total figure of £3.75 Billion. Way more than the original figure set aside in February 2011. Now here's the crux and also the hig question of who was telling lies. If the rise in claims throughout July and August totalled 190,000 per week and 10% were being upheld, this would yield an additional cost for those two months of £150 million. And yet the Bank, over three period in 2019 had set aside an additional £2.45 Billion whilst stating at the end of July that 10% only of the increased weekly claims in July were being upheld. Nothing, yet nothing, adds up at all. Just more deceit or lies.

The relevant focus is the total number of claims received in July and August and the actual level of upheld claims. If Lloyds were upholding 10% then they needed to have received an additional 10 million claims in the last two months, over and above the usual number. Absolutely impossible I would suggest. The far more likely answer is that the upheld ratio was appreciably higher than 10% figure stated by the Board, more in the region of 50% to 60%. And that the number of postal applications increased alarmingly in August. Just a continuation of the deceit and lies.

A super clean diesel already exists in Germany. I think Bosch may have been involved with this concept, but it is using cooking oils, grease and other used oil derivatives that have been reprocessed and then mixed with conventional diesel. It is actually getting rid of waste materials which are then combusted in an ICE and the CO2 levels, because this is what everyone is focusing on, have reduced to around 30gms per kilometre. No need for new infrastructure costing billions or the mining and processing of scarce elements. But it won't get a look in as everyone is hell bent on electric as they don't have exhaust pipes.

By the way, that was an on topic remark.!!

It will be very interesting to see Lloyds position regarding ppi next week. They earlier made a provision of £1.8 Billion I believe and stopped the share buy back with about £600 million unspent. The comment they made back in the summer was that 90% of claims were not being upheld. I wonder if that will be another off the cuff remark that will be shown to be wide of the mark. If the percentage of upheld claims was only 10% and lloyds had received a similar 2 million in the last few weeks leading upto the end of August, then £400 to £500 million would suffice. It's worth remembering that,Lloyds had set enough aside, apparently, to satisfy a provision of around £140 million a month before the deluge of claims began. Only a week to go and see who has egg on his face.

What an obnoxious little man he is. Another example of the problem of politicians thinking they're above everyone else and simply doing a job should be rewarded. Again, high time peerages were not decided by politicians.

Another reason to stop politicians handing out honours. The expenses scandal showed their attraction to snouts in the trough.

Clegg got into Government because he was a fresh voice and face at the three party leader debates, although he was boringly repetitious by the time of the third debate. Just as strangely, he received a knighthood for doing nothing memorable and is now a highly paid executive at Facebook, probably employed as much as anything because of his title. I wonder if Harry and Meghan will end up there selling their souls for monetary gain.

Whatever one thinks about the carbon dioxide debate, governments around the world are now focused upon banning fossil fuel cars and bringing about the change to EVs. What is more, self driving EVs will become commonplace and car ownership diminish as many of us don't use our own vehicles 95% of the time. That will have an impact on Lloyds as a good proportion of their business derives from car purchasing.

The frustrating part of all this is the lack of clarity, poor judgement and muddled thinking of politicians and those who can influence others. If CO2 is the issue to be dealt with to save the planet, then the rise in the amount of this gas following the witch hunt against diesel engines was very revealing. The technology to remove most and sometimes all CO2 from diesel engine exhausts is already proven, as is the far greater fuel economy that these engines offer over the petrol alternative. So a pretty dumb solution to damn the technology that can reduce oil consumption and CO2 levels. Well done VW/ Audi, you pulled a blinder with dieselgate!! You effectively turned world governments against an engineering solution that was on it's way to becoming a very clean proposition.

So now we are expected to embrace EVs wholeheartedly because the government says so. Not even being given the choice of hybrids which for many people would offer a very clean solution on their short daily commute. We are clever enough to measure how much CO2 is in the atmosphere and which countries contribute which amounts. We also were able to measure the increase following the start of the war against diesel engines as people on masse switched to petrol powered SUVs. So wouldn't it be a similarly simple calculation to show on every major consumable that we purchase just how much CO2 has been released in its manufacture. I realise this would be very unfavourable for EV cars, particularly on so called long range examples, but isn't it only right that we are honest with the facts and alternatives that are presented to us. And on the same subject since batteries through constant use lose their range and ten years down the line need to be replaced, should we not also be made aware of how little of these lithium batteries is currently recycled.

Someone today said we should consider mass usage of electric bicycles. I suppose that depends on your age and how far from work you have to travel and the sort of roads you are faced with. But in the middle of winter with icy and filthy roads and the shopping to collect on the way home, please excuse me if I don't go down this particular route. And also don't expect most 60 plus year olds to consider this alternative transport.

I heard one individual quite recently raise the subject of why population levels are never talked about. A moot point and one I have made myself. I suppose one reason is that governments' growth statistics are focused on GDP and a growing population helps in achieving this eureka symbol.

A somewhat unusual PPI compensation figure for September - slightly less than August and quite a lot less than July. If Lloyds's portion was 40% then September cost them about £155 million. Bearing in mind the number of claims that were reportedly being received during the last couple of months to the end of August, the compensation figures are not yet reflecting the increase in claims. So either the backlog is huge, the Banks are not able to process the spike in claims any faster, or the increase in claims was due to the vast majority being bogus. If it is the former then compensation payments may continue to the end of the second quarter of the next financial year.
Whatever the reason, lloyds continue to remain quiet about the facts, something I am afraid they have form on doing. For something that ended over five months ago thay could quite easily have provided an update rather than await the usual year end reporting and bundle everything together. Banks constantly forget who owns them - similar in a way to politicians who forget they are our servants.

I certainly would remove the ability for politicians to choose recipients for honours and seats in the House of Lords. The number of Dames and Sirs in the House of Commons shows what an abused honours system we have and when you think of the expenses scandal of a few short years ago, it proves that our servants cannot be trusted when it seems irresistable to avoid placing their snouts in a trough. Far better to remove political influence completely and let us see some deserving recipients. Bercow for an honour - what on earth has this self obsessed urchin done over and above what was expected. One of the troubles within society today is we seem happy to accept rewarding mediocrity.

eccles04, the European Commissioners are appointed by the President, then the Parliament approves the selection, but they don't vote on the individual commissioners. The European Commission determines new legislation that then goes in front of the EU Parliament, but the elected members do not determine policy.
You agree that the EU is a protected trading area and the reason people in this country voted to leave was partly to negotiate free trade agreements with other countries.
Spain and Greece, although it should have read Greece and Italy, would have devalued their currencies and recovered from recession years ago. Being in the Euro does not allow this, notwithstanding that Greece's finances should never have allowed membership in the first place.
If the SP is determined by dividend/profit, then the fall of 20% after the referendum never happened, the fall after the non extension of the withdrawal date never happened and AHO stating two thirds of future profits (before a dividend was paid) which caused the share price to leap to 90p and trigger a bonus payment for the CEO, also never happened.

In your opinion it was an appalling decision to leave the EU. The majority who cared to vote decided that on balance, enough was enough. The EU is a protected trading area with policies determined by appointed individuals who we cannot remove. I've watched the shenanigans of the EU for years and they don't give a damn about member countries who suffer as a consequence of open borders and decisions to take us into a Federal state.
A population increase of 12 million from 1997 to 2026 has strained and fractured our public services. Our economy has grown on the back of low wages and available labour coming across the borders. If the labour supply was vetted, companies would have to be more imaginative and creative and average wages would consequently be higher. When the labour is unrestrictive, the labour rates stay low.
The EU plan to remove the veto and cancel the rebate. They will also centralise tax policies for member countries so no one member can have an advantage in attracting business. We would all become subservient to appointed beauraucrats and that is not my definition of democracy.
I look at countries like Spain and Greece and reflect on how bad the unemployment rates are in these countries and how the young for 12 years, half a generation, have had to suffer. The EU have not been beneficial to them.
When we joined the EU we turned our backs on countries like New Zealand and they quickly formed agreements with other countries to preserve their businesses and their exports.
The EU have proven themselves to be completely inflexible. When Cameron tried to negotiate some flexibility in membership for the UK, they refused. The consequence is what we have today. One of the pleasing sites in politics recently was seeing the arrogant MPs who ignored their electorates being kicked out. We can't do that to the EU commissioners who determine policy. This is the consequence they have heaped upon themselves.
The Lloyds share price has stalled because of the usual rhetoric from the EU about timescales. If the final withdrawal date had been left open, nothing would be achieved. This is how the EU would happily function. BJ has the nous to throw the onus back on the EU since otherwise we could end up with years of shadow boxing and our businesses and economy are our concerns and not the EU's. Once there is some intelligent progress from both sides the Lloyds share price will move upwards.

Norway has been hypocritical for years. On the one hand proclaiming their green credentials in their own country, but extracting and exporting oil and gas on a prodigious scale. No different to coal exports from Australia to China and India, but they get criticised and Norway is applauded.
If people could for once discuss the issue of world population growth and rich countries paying towards poorer countries cutting back their logging operations, something more immediate may be achieved.

It is high time this occurred- Calamity Clegg had agreed for the process to begin in exchange for a referendum on proportional representation. This was, I believe, back in 2010. He lost the referendum, threw his teddy out of the pram and subsequently withdrew his support for the boundaries to be redrawn. Hence we are where we are today, with too many MPs and also too many peers. I would also remove the ability for a sitting PM to automatically appoint peers without the selection being scrutinised by a wholly independent panel. Boris has just appointed two that didn't get re elected as MPs and I dislike this cronyism.

We have freedom of speech in our country and we are a far better nation for this. The SNP can continue to talk only about independence for as long as they like - but I would suggest the vast majority of people in the UK are heartily sick of the repetitive nature of their dialogue and inability to explain how tying themselves to the EU is in any way gaining independence. In my opinion, they should focus more on their dismal NHS and education records, two areas of which they have complete control and fail dismally. They should also acknowledge that 80% of their exports go to the rest of the UK and that in the event of independence they would receive no more Royal Navy ship building orders for their yards. Replacing the thuggish Angus Robertson with the equally smug and thuggish Ian Blackford convinces no one that they are pleasant or logical to deal with. Salmond's forthcoming trial may reveal some tasty details of the inner workings of the SNP, including the present first minister.

Very sorry to see Caroline Flint lose her job. She had principles and supported hervconstituents' vote on Brexit. Thornberry I don't like and wasn't she the one who was derogatory about the white van man flying the flag of St George. I don't think Caroline would make up what she has said.

Oxo42, I believe something in the region of 4% of MPs have been made knights or dames, this at a time when politics and
politicians are held in the lowest regard by the public. It will be interesting to see if Swinson and Bercow are offered peerages - perhaps an appropriate time to start a petition if the rumours come to pass.