Take It or Leave It! The Illusion of Your Bank’s Power.

‘Take it or leave it’.


phrase of take

said to express that the offer one has made is not negotiable and that one is indifferent to another’s reaction to it.

“that’s the deal—take it or leave it”


From Time Magazine’s ‘24 people to blame for the Financial Crisis’, in 2009.

Goodwin, the former boss of Royal Bank of Scotland (RBS); A slew of acquisitions lead RBS investors to see him as a megalomaniac. Commentators have since suggested that Goodwin is simply “the world’s worst banker.” The face of over-reaching bankers everywhere, Goodwin got greedy. Leading more than 20 takeovers at RBS after assuming control in 2000, he couldn’t stop there. As financial gloom gathered in 2007, Goodwin couldn’t resist leading a $100 billion takeover of Dutch rival ABN Amro, stretching RBS’s capital reserves to the limit. The result: the British government pumped $30 billion into the bank, which expects 2008 losses to be the biggest in U.K. corporate history.


When you get a PPI OFFER from the Bank.

Banks handle PPI claims with the illusion of power at the heart of the process. They do.

The wordings used in offer letters differ in the minutiae but basically often mean the same thing- Take It or Leave It.

There will be a paragraph or two about what you can do if you don’t agree – but the vast majority of the time you won’t do anything. That’s proven by statistics.

You don’t know enough, you’re not a claims expert or a financial expert, and you don’t have the time, and several other very good and genuine reasons.

Do you think the bank does not know this?

The bank knows this.

And the ‘dangle of the carrot’ offer is powerful.


So for a consumer, it feels and reads like ‘Take It or Leave It’.

You might even forget that it’s YOUR MONEY they’re dangling!


So there you have it, the illusion of power.


Why illusion?

When Fred Goodwin conducted 20 acquisitions, by the mid-2000’s RBS looked as powerful as ever. But it was an illusion, because that was exactly when they were approaching their weakest point.

Easy to say now.

Impossible to see then.

An illusion. Which nobody challenged.


How does illusion affect you? Because illusions are still at the heart of the scandal, even right now. Here’s some;

  • Opinion and proof point to millions of offers not calculated correctly.
  • Banks have upgraded and changed the calculations they’ve been using.
  • Banks reject complaints on an epidemic level. The Financial Ombudsman is upholding 70% of those.
  • Banks mismanaged the scale of the problem. Initial estimates were 3million people affected; wearily, by January 2016 12million people had received compensation, totalling £24.2bn!

That’s staggering when you remember the original FSA said around 53million PPI policies were sold, 45million by banks, worth around £44bn.

The stats keep changing. A mess is a mess, especially when it’s a big mess. This one is the biggest. I don’t think I’ve seen a statistic on this scandal which stayed unchanged for more than 6 months.

Even now, it’s still not clear how many policies were mis-sold.

So, what are your options in a ‘take it or leave it’ situation?

1          Walk Away. But in a PPI Offer situation, there’s a lump sum being offered that’s too tempting to not take. So statistically, you won’t walk away.

2          Change the Parameters. Statistically you won’t do this either. But this is KEY to unlocking the bank’s illusion of power.

However, a good Claims Company (see www.maplefinancial.co.uk) will absolutely do this!

What Parameters?

  • Was the sum correctly calculated?
  • Was the interest sum correct?
  • Were your circumstances taken into account?
  • Was the right interest included?
  • Was your claim wrongly rejected? Stats say YES, 70% of the time!


Remember, this is YOUR money. You deserve to be treated with respect and given proper redress.

That bank had the use of your money all the time that you paid them.

Free money!!!

Your next action;

  • Make a call.
  • Or send an email.
  • The rest is done for you. SIMPLE. DO IT.


The banks think you won’t challenge them. They want you to think they have all the power.

More on the Illusion of Power

The illusion often affects the power-holders themselves, too. Even to the extent that they fail to see the end of that power.

Nicola Ceausescu had an unshakeable grip on all of Romania pretty much from 1965 – then, in just a week or so, he didn’t. This is how quickly 25 years of unshakeable power fell away.

  • On 21st December 1989 he held the usual mass gathering outside the palace. Power had so distorted his reality he didn’t see any coming change or danger.
  • Change happened so quickly that he had to take refuge in the Palace during that same meeting.
  • By 22nd, the very next day, he was fleeing his own people.
  • And by 7th January he was executed by his own people.

A country transformed in only a few days. You wonder what could have happened had the population challenged earlier.

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Rachel Swinney

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