It was reported today in the online Telegraph that the HSBC bank had been heavily fined £10.5 million for mis-selling investment products to elderly customers needing long-term care.

Read more about this report HERE

Did I not read somewhere that the total was nearer £40 million ?

Yes mate, but that figure is for the compensation that they will have to pay to the victims on top of the amount that they were fined.

Shame that the fines won't get shared out among pensioners, after those who were missold are paid back!

Cheers, HG

Oh HG... that is a subject after my own heart !

Any time that anybody breaks the law or commits fraud in the city or in commerce and every time that they are penalised for being such crooks by having to pay a fine....WE.... never see any of it as this money goes straight into the coffers of the local or national governments after which it is frittered away on wasteful consultations and pet-projects.

It doesn't matter how much money these idiots get, they always waste most of it on things that don't matter.

It is true what my old Irish granny used to say: "If anyone gets their money easily this money is always spent unwisely !"

Yes my friend, the saying is also...."Easy come, easy go" !

BTW, it is not just the pensioners that are ripped off in this manner as there are many younger folk that suffered just because they wanted to be " more safe than sorry" by taking out payment protection insurance and those extended warranties we are always being pressurised into taking.