Quote:
Originally Posted by BBKing
this is the NR suits' fault, but they'll put up a defence like 'we were complying with the relevant legislation' which ought to put the focus back on the relevant legislation.
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Since its privatization, NR was a ruthless organization, putting up accounts with high interest rates, attracting deposits, then reduce the rates of those accounts, create "new" accounts with high interest, and do the same again with a cylce of a few months. This scam went on and on, where was the FSA?
They did similar scams with the mortgages....
The expansion of NR was frightening, where was the FSA to regulate? And then NR came up with the idea to borrow from the markets, and we know what happened...
Whatever NR did is/was legal...