Taken from AFN - Evil K15 Feb 2010 22:14
Simon Cawkwell - 11 Feb'10 - 03:38 - 1468 of 1470
Gentlemen,
I am probably just thick. But I have not worked out why PCF is so cheap.
I agree that dealing volumes and so forth are pitiful. But, even so, one would think that at current levels, say 8p, this is a put it in the tin job.
Separately (in a sense) I mention that, as I listen daily to the tales of woe from UK banking in practice, I rage (internally of course) that such an incompetent bunch of grasping bozos are in effect given an exclusive licence to take deposits from the public and, let us not forget, the BoE at 0.5% and are then free to shaft the rest of us at any rate you care to dream up.
That is not all: most of these licensed bozos can barely read or write. And we all have to pay for them. Truly, I loathe Brown, the architect of this disaster.
Simon Cawkwell