Cheating Bankers still advertising in PC Mag

[Dustydog]

Yet again as I opened the latest PC Mag out , fell two Aliance and Leicester leaflets offering me special rates for a loan I don't want.

I thought all these Banks had lost their money and were relying on us Tax Payers to bail them out. I'm thick but I can smell jiggory pokery.

Cheers

Alan

 

[WoodlandsCamper]

Alliance & Leicester must have been saving money with you only having 2 leaflets!! I had no less than 7 identical A&L leaflets in my magazine. They went straight into the recycling bin.

 

[Guest]

You are not quite correct in your assumption. A&L certainly suffered a share price meltdown and the Board agreed a sale to Santander, owner of Abbey. This sale was agreed in September by a majority of shareholders (well, actually the big investment Companies agreed and as they outvoted the small shareholders it went their way). Whether the share price meltdown was due more to short selling, rather than major failure of the A&L is not clear, but panic swept the Government who were desperate to avoid another Northern Rock so coerced the Board into bed with Santander.

So as A&L is now Spanish owned it can offer anything it likes to potential customers. Santander have stated they do not need any injection of money from the B of E so they will stay independent. A&L will remain a separate entity just as long as it suits Santander, so is likely to merge with Abbey within the year.

Bradford & Bingley have similarly been coerced into bed with Santander at the Government's request.

One could ask if the Spanish Company are donaters to the Labour Party.