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  • Wednesday, March 22, 2006

    15 million Brits lose savings thanks to Blair & Co

    Another reason to thank Blair & Co, from Bloomberg:

    About 15 million British citizens who were forced to invest in the domestic bond market are losing their savings, and the government is telling them: Too bad!

    Prime Minister Tony Blair and Chancellor of the Exchequer Gordon Brown forced the U.K.'s 760 billion pound ($1.3 trillion) pension industry to increase investments in sterling-denominated bonds starting in 2004 after the collapse of funds left tens of thousands of workers without retirement savings.

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    At 3/23/2006 12:34:00 am, Blogger DJEB said...

    WTF!!! This is a HUGE scandal! The British public is brain-dead if they just shrug this one of.

    At 3/23/2006 09:22:00 am, Blogger Truth Seeker said...

    This should be a huge scandal djeb, you'd be surprised at just how many people are still asleep though. It's outrageous that Blair & Co can get away with these things.

    At 3/24/2006 01:18:00 am, Blogger DJEB said...

    This could be a Canadian thing, but any time politicians so much as make noises of putting pensions at risk, Canadians of all ages scream bloody murder.

    At 3/24/2006 07:14:00 am, Blogger Truth Seeker said...

    Good for them, people should shout out when these issues are at stake.


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