The Endowment Diary

The Endowment Diary


The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Tuesday, January 27, 2004

I see that Jonathan Bloomer (CEO of Prudential) has been up in front of the Treasury Select Committee, which is investigating the endowment mortgage mis-selling scandal.

He told them the following, "I very much regret any mis-selling that we have done".

That's alright then!

Other heads of the companies that sold these endowment policies will be grilled by the Committee today.

The FSA estimates that around 3.5 million people are facing a shortfall on their endowment policies.

By anyone's reckoning, that is a lot of angry people.

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