It is normally crackpot lefties who bleat on about the short termist approach of some businesses which undermines capitalism, and so I venture into an area where I might find myself in the same ideological bed as gold grade loons like Polly Toynbee. Whatever… The old trout has – like the proverbial broken clock – got to be right now and again. My mind wanders into this area thanks to two companies on AIM: CPP (which is perhaps days away from going down the plughole) and Cupid which is not near the plughole. Yet.
CPP provided financial services support for big companies. The problem was that some of the services it provided were not just crap they were an outright scam. It was hugely profitable for CPP but in the end you cannot go around ripping off your customers forever because they walk. As it happens it did not get to that stage with CPP because the FSA stepped in, shut down a large part of the operation and slapped a huge fine on CPP.
on SpreadBet Magazine | Comments