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Showing posts with the label Consumer watchdog

Huge profits for private companies at the expense of society..

  http://www.mirror.co.uk/news/uk-news/water-giants-make-2billion-profit-4703371 Water giants make £2BILLION in profit - but SEVEN of them didn't pay a penny in tax   4/5ths of this planet is covered with water. Yet some private companies, many of them ultimately foreign owned , make £billions in profits selling an essential commodity to the people of this country. Without water, we would all die and these privately owned companies are very much aware of that simple fact. The great obscenity of the privatisation of the water companies, is that a government took what the nation already owned, sold it to their friends in the city, who then offered shares for sale to a few small "investors" and control of the water industry to a small number of large corporations who have been milking the profits ever since. It is a gross perversity,  that companies can make huge profits from the sale of water and collectively pay little if any tax.  There are certa...

Payday loan company parasites target families through their children.

  http://www.theguardian.com/money/2013/nov/10/payday-loans-ads-childrens-tv-labour-ed-miliband Labour would force payday loan ads off children's TV Ed Miliband: ads are bad for families   It is a stunning indictment of Payday loan companies and the people who run them, that their greed and cynicism extends to advertising these loans on children's television, knowing all too well that such loans are available only to those aged 18 or over. Targeting parents through their children to take out such loans shows the depths to which the parasitic money lenders will sink to "grow their business" and the callous attitude to  that this present government has in allowing such malpractice to take place. Miliband says that he will force these parasites off children's television by legislation if necessary, should the Advertising Standards Authority fail to act.  The companies have demonstrated time and time again that they are incapable of, or even have the inc...

Sue Lewis sees little wrong with usury.

  http://www.independent.co.uk/money/loans-credit/payday-loans-defended-by-new-consumer-champion-8906441.html   Payday loans defended by new consumer champion Sue Lewis, head of the FCA consumer panel   Sue Lewis, the new chair of a City watchdog for consumers, is clearly living in a world of her own creation. The example of a £50 charge on her credit card for a meal as being no different than the usury practiced by many if not all of the so called "Payday loan" companies in the high street or on the internet, is both facile and patronising. To the vast majority of those having to resort to the "services" of these parasitic money lenders, the notion of paying £50.00 for a meal is completely scandalous when they may have only that amount for food for a week or even a fortnight to feed their families. A sample of the payday loan companies    Only recently, Wonga one of the biggest money lending companies reported profits of £84...