More BBC guff from the FSA on how stupid people are in the UK :

Bank accounts which charge fees for extra benefits such as insurance may be being mis-sold, the Financial Services Authority (FSA) has warned.

It says the danger lies in people buying packaged accounts with insurance that is too expensive or inadequate.

The FSA says about 15% of the adult population already have these accounts, so large numbers of people might be disadvantaged by them.

The warning comes in the FSA’s Financial Risk Outlook for 2010.

“Packaged accounts may offer value for money for some consumers, but they may not benefit all,” the FSA said.

“Consumers could be better off purchasing products individually or not at all.

What is it with all this mis-selling shit these days? “I was mis-sold this product because the salesman promised me unlimited riches and beautiful naked women if I subscribed to his banks £250 per month account which offers me free pet insurance and I haven’t seen one woman naked or otherwise and I now have no money”

I suppose the old saying still applies :

A fool and his money are easily parted

Whatever happened to caveat emptor? In this case I think it’s more like the FSA trying to justify its existence as well as making up for letting the financial industry get into the shitty state it has done.