Farepak...

20 Nov 2007

Listening to the news today/yesterday it was being re-ported that the unfortunate victims of farepak going under are still not going to get any of their monies back over a year on.
Ok i did feel very sorry for those that lost out last year over that debarcle, but now i think I may be a bit on the 'oh come on now just get over it' persuasion. It is over a year gone after all.
As i say I know that last christmas for many it was a tragedy. What I sort of object to I guess is the losers in any other business that dont get the amount of media coveredge when there sppliers or the people they look to go bust. It seems to me that just because its christmas they are tawling out the farepak saga once again!. And getting unfair attention regarding it, that other people and small companies that go to the wall do every day dont.
Hey I'm the first to admit I didn't lose out on it, Is the fact that its christmas 'story' the only reason iy gets airspace?

20 Nov 2007

one of the main reasons its getting coverage again is because of Browns decision to bail out Northern Rock.
Farepak was a private company with minimal job losses, investors lost £40 million and the most they are likly to get back is 5p in the pound.
Northern Rock was bailed out of the PUBLIC purse for £24 BILLION :shock:
Reason well there are an aweful lot of Labour voters in that region and a lot of job would be lost. Remember Rover where the goverment stepped in with PUBLIC money to save a company in Labour heartlands and what happened to that.
£40 million is not a lot by comparison to bail out genuine people but its not a vote loser, anyway I digress thats why Farepak is in the news.

20 Nov 2007

Sorry Ukwineman and while i see your point we are talking about a private company and a high street bank, theres a huge difference. The Northern Rock senario would have affected most, especialy anyone with a mortgage as interest rates would have risen heavily.
Having said that its about time the owner of farepak was held accountable for the demise of the company, why should anyone have to bail him out when he has the funds hidden everywhere to do it himself.
I don't think its hit the headlines just because of northern rock, sounds more like the conservatives are trying to stir the pot, which sounds a bit hypocritical because they would have done the same. After all its politicians we're talking about lol

20 Nov 2007

Many of those who lost money through the farepak alleged fraud were those who could least afford to lose it.
So far the only people out of pocket in the Northern Rock affair are the shareholders, who should, by and large be more able to absorb their losses.

20 Nov 2007

Quote by Ukwineman
Reason well there are an aweful lot of Labour voters in that region and a lot of job would be lost. Remember Rover where the goverment stepped in with PUBLIC money to save a company in Labour heartlands and what happened to that.

What happened was Labour stepped in full of promises just before a general election, forked out a fairly small sum (in the grand scheme of things) to cover unpaid wages (not to buy votes, no, of course not), then let the whole lot get sold up to an abhorrent regime we're hand in glove with because said regime makes the cheap plastic crap that drives our consumer culture.
But the main thing is having been responsible for letting four incompetent if not downright dodgy directors take Rover in the first place, the government could pin the whole saga on said directors (who came out of it wealthy enough to not give a damn) and shirk any claims they might be in any way to blame.

20 Nov 2007

we lost out to farepack grrr
did a post on it http://www.swingingheaven.co.uk/swingers-forum/viewtopic/89834.html?highlight=farepack

20 Nov 2007

One thing we should remember about farepack and admire those who invested their savings.. Those very same people were not running up huge debts on cards and loans but budgeting as best they could to give their families what they could afford.. The true spirit of xmas and I hope they all find good fortune somehow someway and soon. I admire each and every one and wish there was more done for them..
Bloody conned they were simple as.. Bless em. I bet the recievers the lawyers the directors etc all do well.. Greedy no good shi**
Rant over...
Mike x

20 Nov 2007

Quote by northeastcoupleuk
we lost out to farepack grrr
did a post on it http://www.swingingheaven.co.uk/swingers-forum/viewtopic/89834.html?highlight=farepack

I remember this happening to you, my heart was totally with you both, I think I'd posted that at the time. In the January I'd had two choices, Farepak or Park, luckily for me I chose Park, but I was abs. gutted for you all. kiss

20 Nov 2007

Another point regarding Northern Rock - if it had remained a Building Society as it was in the "good old days" it wouldn't have got into difficulties - the culture and the regulations were different.
Plimboy :shock: sad

Your not so grumpy old straight single male