I read an interesting article in Saturday's Times about endowments, and those purchased before April 1988.
I was pleased to see that they agree with my analogy, which compares the purchase of an endowment to the purchase of a malfunctioning TV.
I have been banging on about that particular point since the inception of this web diary back in Sept 2002 (well over a year ago), both on the diary and to the FSA et al; yet the relevant authorities refuse to take this point on board (how surprising!).
Maybe now it has been made in national newspaper, others will take this point up and push it hard.