Face the facts


Waite This is the brochure? Wheeler



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Waite

This is the brochure?


Wheeler

This is the brochure NDFA, capital secure, fixed growth plan June 2008. And then we go to is this investment suitable for you, how does the plan work. On one page in block capitals - full repayment of your capital at maturity, growth potential without risking your capital. And that's the investment that we took and that's the basis on which we took it.


Waite

As the couple made their decision, they had every reason to be careful. For many months past there'd been ever-worsening news about the finance industry.


News clips

One of Britain's largest mortgage lenders Northern Rock has applied for an emergency loan from the Bank of England.


Mr Brown has welcomed plans by the Bank of England, the United States Federal Reserve and other central banks to pump billions of pounds into the international money market.
An American bank has taken over its stricken rival Bear Stearns for a fraction of its value last week.
Waite

By last summer, nine months had passed since the bail out of Northern Rock. In America, Wall Street's fifth largest bank, Bear Stearns, had had to be rescued and Lehman Brothers, one of the world's largest investment banks, had made a quarterly loss of $2.8 billion. It was busily raising more billions, and its shares had slumped by 50%. But Paul Wheeler and Maureen Corcoran at least knew that their investment was safe. It said so in black and white on the brochure - "capital secure". So they felt they had no need to worry as the economic headlines got worse.


News clip

Wall Street is in shock after the turmoil in the American property markets claimed its biggest victim to date. Just over two hours ago the American investment bank Lehman Brothers announced it was to file for bankruptcy after suffering multibillion dollar loses...



Directory: rmhttp -> radio4 -> transcripts
transcripts -> Presenter: peter white producer: kathleen griffin
transcripts -> Radio 4 Sunday Worship from Blackburn Cathedral Sunday 14
transcripts -> This transcript is issued on the understanding that it is taken from a live programme as it was broadcast. The nature of live broadcasting means that neither the bbc nor the participants in the programme can guarantee the accuracy of the information
transcripts -> This transcript is issued on the understanding that it is taken from a live programme as it was broadcast. The nature of live broadcasting means that neither the bbc nor the participants in the programme can guarantee the accuracy of the information
transcripts -> Presenter: peter white producer: kathleen griffin
transcripts -> Presenter: ian macrae
transcripts -> Sunday Worship Bath Abbey Sunday, 23
transcripts -> Presenter: peter white producer: cheryl gabriel
transcripts -> Presenter: peter white producer: richard hooper


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