Skip to main content

Albert the pensioner in the Irish Independent

This story is the details of the PIBS story. This is an interesting issue from the perspective of capital heirarchies and the voting against class interests (bondholder classes). However, the human story is quite real.

So, you want to burn all the bank bondholders? Read Albert the pensioner's story...
By Ciaran Byrne
Saturday June 18 2011
Meet Albert Kempster: he's 73, has a pension of just £56 a week and usually shops at night to buy the food supermarkets are about to throw out.

Financially, life isn't too easy. With the rising cost of food and utility bills, he enjoys no luxuries and rents a one-bed flat in the bleak high-rise suburb of Sighthill, Glasgow.

Albert is pretty much struggling to stay afloat. Now Bank of Ireland is about to sink him.

Thanks to an extraordinary move by the bank, adrift after years of disastrous lending and property speculation, Albert's lifetime savings of £24,000 (€27,294) invested in high- interest bonds are about to be snatched from him.


This is not an issue I am acting as a politician in, but instead as a bondholder. These bonds were launched in 1991 when this was a normal retail bond.

There are lots of interesting legal and financial issues behind this, but it is worth understanding some of the real human stories. Albert's story is far from unique.

Comments

Popular posts from this blog

Statement re false allegations from Esther Baker

Statement by John Hemming
I am pleased that the Police have now made it clear that there has been a concerted effort to promote false criminal allegations against me and that the allegations had no substance whatsoever.
I would like to thank Emily Cox, my children, Ayaz Iqbal (my Solicitor), my local lib dem team and many others who supported me through this dreadful experience. There are many worse things that happen to people, but this was a really bad experience.
It is bad enough to have false allegations made about yourself to the police, but to have a concerted campaign involving your political opponents and many others in public creates an environment in which it is reasonable to be concerned about ill founded vigilante attacks on your family and yourself. Luckily there was a more substantial lobby to the contrary as well, which included many people who were themselves real survivors of abuse, which has helped.
I am normally someone who helps other people fight injustice. …

Homelessness vs Selling Books

Candidates in elections tend to find themselves very busy with lots of things to do.  It is, therefore, necessary to prioritise things to ensure that the important things are dealt with.

To me the issue of homelessness and rough sleeping is an important issue.  Therefore, when Birmingham's Faith Leaders group contacted me to ask me what I would propose and whether I would work with them to make things better I was pleased to respond with my views and indicate that I would work with them after the election.

The Faith Leaders Group (Bishops and other religious leaders in Birmingham) have now sent out their report.

Sadly, according to their report,  I was the only candidate for Yardley to respond.  The group in their report said:

"Particularly disappointing was the lack of response from some of those candidates seeking re-election as MP for their respective constituencies."
It is worth looking at the priorities of my opponent.
Interestingly today she has decided to be at th…

R v SUSSEX JUSTICES ex p McCARTHY [1924] 1 KB 256

I have only just found this one which I think is accurately reported below (but if it is not please give me an accurate report).

KING’S BENCH DIVISION

R v SUSSEX JUSTICES ex p McCARTHY [1924] 1 KB 256

November 9 1923

Editor’s comments in bold.

Here, the magistrates’ clerk retired with the bench when they were considering a charge of dangerous driving. The clerk belonged to a firm of solicitors acting in civil proceedings for the other party to the accident. It was entirely irrelevant that there had been no evidence of actual influence brought to bear on the magistrates, and the conviction was duly quashed.

LORD HEWART CJ:
It is clear that the deputy clerk was a member of the firm of solicitors engaged in the conduct of proceedings for damages against the applicant in respect of the same collision as that which gave rise to the charge that the justices were considering. It is said, and, no doubt, truly, that when that gentleman retired in the usual way with the justices, taking with him the…