Have Gordon (Do what it takes) Brown, and Alistair (Do what it takes) Darling, done sufficient to reignite the UK housing market? A better question might be why they would want to stoke up, what was a significant cause of the problem in the first place. It is surely elementary that whenever anything overheats it eventually cools down.
The telephone number sums of money that are being used to bolster the system are staggering to perplexed, and sometimes angry, taxpayers. They understandably ask how can the people who got us into this mess, be trusted to get us out? There is 50 billion pounds here, 40 billion pounds there, and 6-700 billion dollars somewhere else. While all of this is going on, it is reported that greedy executives of Lehman Brothers were securing millions of dollars in bonuses; at the very time the business was collapsing.
All most people ever wanted was a reasonable home at a reasonable price, not a topsy-turvy, interbank mish mash of swapping mortgages and everything else! Could it ever last? No! Should it have been allowed to continue? No! So who should now foot the bill for all this folly? It looks like it will be the taxpayer; the poor bewildered man in the street!
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It is a pity that those who created this ruinous situation, will not be asked to refund their ridiculous bonuses. They are the beneficiaries and it seems as though most of the rest of us will be their paymasters. Perhaps the Government mantra ought not to be - We'll do whatever it takes - but - We'll do what we like with your money!
Tags:
Is Alistair the banks Darling?
Is Alistair the banks Darling?
Don't Bank On Getting A Mortgage
It seems that when some organizations, shed their building society boots and became banks, they bit off more than they could chew. Bradford and Bingley is a prime example, but by no means the only former building society that has caught a cold. Northern Rock and Halifax - Bank of Scotland, also spring to mind. Wasn't it Alliance and Leicester who boasted that you're a better investor.....?
You are certainly not a better investor with Bradford and Bingley, as it looks as though the dear old shareholders will get nothing, including those who forked out £400 million, for a rights issue in July. The great majority of shareholders are not millionaires, and those who were members when the building society became a bank, and have held onto their stock, are probably hanging on to worthless bits of paper. Such people you can feel sorry for but they are not the perpetrators of the problem.
Please Click Here to visit the Free Mortgage Advice Web Site.
Bradford and Bingley were very big in providing Buy to Let mortgages, and to a lesser extent the dubious practice of self certified mortgages. There is no wonder they caught a cold, because there are many who do not profess to be financial experts, who could see the problem coming. Of course the government have been particularly lax in not heading off a worsening situation. It almost seems as though; along with many others they saw mortgages, and house price inflation, as stairways to the stars.
House prices were driven up, not least due to 'Buy to Letters' and Self Certifiers. Many people were encouraged to borrow against the perceived increased value of their properties, and it was all sure to end in tears. But, and it is a reasonable question to ask, who for? British and American taxpayers to name but two, are being asked to foot the bill for excesses the likes of which have never been seen before. There used to be a saying that if you would like to know the value of money go and try and borrow some. That was before the banks borrowed shed loads of international money, and shovelled it out like snowflakes, or stardust!
The chickens have now come home to roost and there is no wonder. In an age of privatization, nationalization is back, and wonder upon wonder, it is some banks, the bastions of private enterprise, that are now in government hands. Many ordinary people are angry at being asked to fork out large sums to bail out irresponsible bankers and financiers. There is an election looming in the United States and there are many in the House of Representatives who have become nervous about recent bail out proposals. We watch with interest from both sides of the Atlantic, and no doubt throughout the world.
Please Click Here to visit the Free Mortgage Advice Web Site.
Tags:
don't bank on getting a mortgage
don't bank on getting a mortgage
You are certainly not a better investor with Bradford and Bingley, as it looks as though the dear old shareholders will get nothing, including those who forked out £400 million, for a rights issue in July. The great majority of shareholders are not millionaires, and those who were members when the building society became a bank, and have held onto their stock, are probably hanging on to worthless bits of paper. Such people you can feel sorry for but they are not the perpetrators of the problem.
Please Click Here to visit the Free Mortgage Advice Web Site.
Bradford and Bingley were very big in providing Buy to Let mortgages, and to a lesser extent the dubious practice of self certified mortgages. There is no wonder they caught a cold, because there are many who do not profess to be financial experts, who could see the problem coming. Of course the government have been particularly lax in not heading off a worsening situation. It almost seems as though; along with many others they saw mortgages, and house price inflation, as stairways to the stars.
House prices were driven up, not least due to 'Buy to Letters' and Self Certifiers. Many people were encouraged to borrow against the perceived increased value of their properties, and it was all sure to end in tears. But, and it is a reasonable question to ask, who for? British and American taxpayers to name but two, are being asked to foot the bill for excesses the likes of which have never been seen before. There used to be a saying that if you would like to know the value of money go and try and borrow some. That was before the banks borrowed shed loads of international money, and shovelled it out like snowflakes, or stardust!
The chickens have now come home to roost and there is no wonder. In an age of privatization, nationalization is back, and wonder upon wonder, it is some banks, the bastions of private enterprise, that are now in government hands. Many ordinary people are angry at being asked to fork out large sums to bail out irresponsible bankers and financiers. There is an election looming in the United States and there are many in the House of Representatives who have become nervous about recent bail out proposals. We watch with interest from both sides of the Atlantic, and no doubt throughout the world.
Please Click Here to visit the Free Mortgage Advice Web Site.
Tags:
don't bank on getting a mortgage
don't bank on getting a mortgage
Mortgage Quiz - Are You Greedy or Are You Needy?
Most Americans are good people but there are some who are only motivated by greed. Most Europeans are good people but there are some who are only motivated by greed. Most Asians are decent people but there are some who are only motivated by greed. Better not leave out Africa and Australia because greed is not limited to a particular country or creed. So how can a vast majority stop the few causing financial misery to so many? There is only one answer and that is the ballot box!
That is why the American House of Representatives voted down the recently proposed $700 billion tax bill. They have been heavily criticized, but in a democracy the people elect the politicians, and it is the majority of the people that they should strive to serve. Not the few get rich quick bankers and speculators, but all the people, and it was good in this instance that those elected called at least a temporary halt to a scheme involving vast amounts of public money. At the very least they will get a better deal on the part of the electorate. They have succeeded in diverting some attention from the really, really, greedy, to the very, very, needy.
That's what the present mortgage crisis is all about. It is not going to adversely affect fat cats in the banking business. They have a way of squaring everything to suit themselves. Heads they win, tails you lose is their philosophy. That is why so many ordinary Americans with, and without mortgages are so angry about the proposed $700 billion dollar bail out. They feel that they are being asked to foot the bill, for other people's excesses, and quite rightly ask, why should they?
It seems that the financial sector has been operating almost without regulation. There have been ridiculous bonuses, and salaries, with obscene fortunes being made by unscrupulous people that have caused the financial system to be brought to its knees. Win or lose, they have managed to reward themselves. The problem has got to be sorted out, and it is as well that measures are afoot to prevent those responsible from getting away with it.
There was a famous Wall Street movie with Gordon Gekko extolling that 'greed is good'. The movie had a happy ending when he got his just deserts. We can only hope that reality, to some extent re-enacts the movie.
Please Click Here to visit the Free Mortgage Advice Web Site.
Tags:
mortgage quiz greedy or needy
mortgage quiz greedy or needy
That is why the American House of Representatives voted down the recently proposed $700 billion tax bill. They have been heavily criticized, but in a democracy the people elect the politicians, and it is the majority of the people that they should strive to serve. Not the few get rich quick bankers and speculators, but all the people, and it was good in this instance that those elected called at least a temporary halt to a scheme involving vast amounts of public money. At the very least they will get a better deal on the part of the electorate. They have succeeded in diverting some attention from the really, really, greedy, to the very, very, needy.
That's what the present mortgage crisis is all about. It is not going to adversely affect fat cats in the banking business. They have a way of squaring everything to suit themselves. Heads they win, tails you lose is their philosophy. That is why so many ordinary Americans with, and without mortgages are so angry about the proposed $700 billion dollar bail out. They feel that they are being asked to foot the bill, for other people's excesses, and quite rightly ask, why should they?
It seems that the financial sector has been operating almost without regulation. There have been ridiculous bonuses, and salaries, with obscene fortunes being made by unscrupulous people that have caused the financial system to be brought to its knees. Win or lose, they have managed to reward themselves. The problem has got to be sorted out, and it is as well that measures are afoot to prevent those responsible from getting away with it.
There was a famous Wall Street movie with Gordon Gekko extolling that 'greed is good'. The movie had a happy ending when he got his just deserts. We can only hope that reality, to some extent re-enacts the movie.
Please Click Here to visit the Free Mortgage Advice Web Site.
Tags:
mortgage quiz greedy or needy
mortgage quiz greedy or needy
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