How We Are Made To Pay.
A late post today. Busy doing stuff! After coming in from the garden I did my usual bit of surfing. The following took me very much by surprise.
Whilst our media bombard us with political posturings and financial meltdown they rarely identify the damage being caused. A throw away remark about pension funds is all we get. The front men and women of the Chatterati seem to feel their pensions and salaries are above the rest of us. They probably are.
So I decided to blog on this which popped into my conscience during my browsing. The mugs will pay, as ever. My interest awakened, I had a peek at Legal and General, a company listed recently as the seventh most powerful on the planet. From the link we have this, "This is because any default hit would be absorbed in part through life insurance funds which split investment gains and losses between policyholders and shareholders, with policyholders picking up as much as 80 percent."
This then led to a snippet to be found at this location. Isn't it strange how these people operate. Once upon a time these holdings were regarded as safe investments. Of course if losses are taken by policy holders you can bet the Companies do just fine. Little wonder they are such a powerful presence.
This also reminds me of Snotty's (remember him? Saved the world so he said) raid on pension fund dividends. Again it was the policy holders who suffered. My own losses were circa £100,000 from my pension pot after 30 years of hard saving. Imagine the billions of other schmucks clobbered by this modern political and corporate rape and pillage!
So what is happening right now will be bad for we masses but the unholy alliances forged by the unholy trinity of politics, corporate and gangster greed for power and money will be just fine. That is unles piano wire sales suddenly surge!!