Did anyone see Panorama last night on UK sub-prime mortgage lending?
Sad to see so many obviously good people taken in by what Panorama claimed were little more than scam artists and con-men. Just as in Ireland, the Financial Services Authority fiddled while the slick marketers and financial wizards in the private sector ran rings around them.
I think the message from programmes like this is that we must introduce mandatory personal finance classes in schools as a matter of priority. While we're at it we should beef up the likes of MABS and ensure that they offer widely-available free personal finance classes also.
Most of these people could have avoided the dreadful plight in which they find themselves had they just had the most basic financial literacy and education.
Sad to see so many obviously good people taken in by what Panorama claimed were little more than scam artists and con-men. Just as in Ireland, the Financial Services Authority fiddled while the slick marketers and financial wizards in the private sector ran rings around them.
I think the message from programmes like this is that we must introduce mandatory personal finance classes in schools as a matter of priority. While we're at it we should beef up the likes of MABS and ensure that they offer widely-available free personal finance classes also.
Most of these people could have avoided the dreadful plight in which they find themselves had they just had the most basic financial literacy and education.