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Post by oppsididitagain on Apr 24, 2020 7:43:02 GMT
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Post by skidrow on Apr 24, 2020 9:00:14 GMT
Absolutely not.
The government in this case means all of us - taxpayers both directly and indirectly. Why should taxpayers underwrite the losses of investors? If we didn't understand the risks of investment then we only have ourselves to blame because all the warnings were there.
I do feel sorry for those of us who cannot afford the losses they might make but the fault is their's, no-one else's. To say that the government "encouraged" investment in IFISAs does not absolve an individual from the responsibility of making an unwise investment.
It would be completely wrong if losses were compensated for by the taxpayer while any gains were tax free (as they are in an IFISA).
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k6
Posts: 266 
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Post by k6 on Apr 24, 2020 9:23:13 GMT
" the fault is their's, no-one else's". Well , I am trying not to blame my self for investing in Coll, FS or Ly as they were regulated my government. A can take in all borrowers defaults. But the losses investors suffering are not caused by borrowers ( to some extend ) but mostly by Regulated by Government platforms.
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pip
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Post by pip on Apr 24, 2020 10:04:47 GMT
Can the government refund the losses I have made on my shares too?
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Post by oppsididitagain on Apr 26, 2020 17:44:19 GMT
I wasn't expecting the government to cover the personal losses, although that would be nice, it was in relation to the P2P platforms. The whole Idea of P2P was to help fund SME's as the banks refused to do this back in 2011 after the GFC. They have accredited CBILS partners here : www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils-2/current-accredited-lenders-and-partners/ I was hoping the government would have more P2P lenders on their list, to get money back into the P2P system and to help the survival of the P2P websites. We can only hope all new money lend will trickle back into the current P2P system/platforms to repay the current loans that are outstanding.
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zlb
Member of DD Central
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Post by zlb on Apr 28, 2020 14:11:48 GMT
I wasn't expecting the government to cover the personal losses, although that would be nice, it was in relation to the P2P platforms. The whole Idea of P2P was to help fund SME's as the banks refused to do this back in 2011 after the GFC. They have accredited CBILS partners here : www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils-2/current-accredited-lenders-and-partners/ I was hoping the government would have more P2P lenders on their list, to get money back into the P2P system and to help the survival of the P2P websites. We can only hope all new money lend will trickle back into the current P2P system/platforms to repay the current loans that are outstanding. I remember raising questions along this line ages ago - there does seem to be a parallel universe system here - the talk and support from the Government eg supporting fintech as mentioned, supporting those who banks are not allowed to support, or don't want to. This glowing matrix hasn't quite materialised. I think that C2F are working with the CBILS opportunity in one way or another. Zopa were going to launch a FSCS protected product.
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