Harsh, I know…
I notice that the Farepak fiasco has come to a sticky and entirely predictable finale with the fund set up to compensate the customers who lost money somewhat short of the planned target.
The fund set up to compensate people who lost savings in the collapse of the Farepak Christmas saving scheme closed at 1800GMT on Wednesday.
About 150,000 people are estimated to have lost a total of up to £50m when the firm went bust.
So far, the Farepak response fund launched by the government has raised £5.8m from companies and individuals - about 10% of the money lost.
Organisers aim to deliver the money, in the form of vouchers, before Christmas.
While I have some sympathy for the victims – we have all made bad calls in our time – it is rather limited. In the first instance, a bank or building society savings account will not only keep money safe, it will pay interest. One argument I came across that contradicted this was that a savings account can be raided in times of need, leaving it bereft come Christmas. Ahem… what just happened? Also, is a sudden emergency requiring immediate funds more or less important than a hamper (or whatever rubbish people waste their money on at this time of the year)?
Also, since when did a hamper, i.e. luxury goods, become a charity case?
Christmas is something of an obsession in this country. But, then, I’m biased; I hate Christmas in all its garish, tacky superficiality with a vengeance and eschew it in its entirety. Yes, I have some sympathy, but not enough to put my hand in my pocket. I will however, dispense some pretty obvious wisdom; put your money in a proper bank or building society account in future. Consider this a life lesson – there, that’s a useful Christmas present for you. Harsh, I know, but true.











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