Consumer Comfort in US at Almost the Highest in Four Years
Article from BusinessWeek:
February 23, 2012, 12:09 PM EST

  • Initial Jobless Claims in U.S. Hold at Four-Year Low
  • Jobless Claims in U.S. Unexpectedly Fall to Four-Year Low
  • Margins Widen at U.S. Companies as Wages Lag Behind: Economy
  • Trade Deficit in U.S. Climbed in December to Six-Month High
  • Growth Forecast in Obama Budget Exceeds Economist Estimates

By Bob Willis

(Updates with markets and correlation with other data starting in seventh parag…………………continues on BusinessWeek
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FSA: Industry has ‘itself to blame’ for low consumer confidence
Article from

The FSA’s acting enforcement head, Tracey McDermott, today said the financial services industry is failing to heed the lessons of previous failures and “has no-one but itself to blame” for low consumer confidence in the sector.

Speaking at the City and Financial Conference, McDermott picked on a number of incidents of mis-selling by financial advisers.

She said: “How could any adviser ever have thought that selling a 94-year-old with a three-year life expectancy a five-year product was fair?

“How could any adviser have thought that investing large proportions – or even all – of a customer’s retirement fund into high risk Unregulated Collective Investment Schemes was suitable advice?

“Why did advisers tell clients to invest in products they themselves did not understand?”

McDermott went on: “It really is no wonder that confidence is low and the industry, frankly, has no-one but itself to blame.”

(read McDermott’s full speech
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