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Discussion Starter #41
15-all.

Change the balls.

Edit: Bugger. that was supposed to be one post higher but you beat me to it.:mad:
 
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Discussion Starter #42
Why do you always assume anyone who disagrees with you is a 'lefty'? It's all relative, I mean, it could just be that you're a closet Nazi! :rolleyes: :p ;)
Notwithstanding the Unions needing sorting out iin the 70's, it has now become painfully obvious that the sell off of various utilities and Industries was driven by political dogma and not done in the best way to benefit the public. The silver was sold off for short term shekels for the govt, consultancy firms got stinking rich, the industries in question have now become a bottomless pit for taxpayers' money for little or no improvement. Those industries were underfunded and run into the ground under Thatcher, made to look crap, and then sold for peanuts to the friends of the Conservatives. Staff were laid off in vast numbers, the service went down the pan and now we are paying through the nose to get back where we ought to be.
How do you know im not a closet communist :) Of course it was political dogma Thatchers Britain was one of greed i wont dispute that.
 
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Discussion Starter #43
How do you know im not a closet communist :) Of course it was political dogma Thatchers Britain was one of greed i wont dispute that.
...because every time I hear you coming I hear jackboots and not sandals :rolleyes: :lol: ;)
If you accept Thatcher's Britain was one of greed, you're halfway to knowing why we are where we are now. She let the genie out of the bottle so that even Labour had to become like the Tories to get voted in. And the reason they got voted in was Tory sleaze...which has now been replaced by Labour sleaze...
I wish I could sound more optimistic, I depress myself sometimes, I can't imagine what you lot must think of me :rolleyes: :lol:.
 
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Discussion Starter #49
Some of Americas selling practices have had a big influence on the bad debt situation. Did anyone see how some of the sub-prime mortgage companies in the USA were selling mortgages to low paid people with fantastically low headline interest rates.

In the small print however, where none of their target market would look..it said the headline interest rate held for only a short period..in the worst cases, for as little as ONE DAY before reverting to spectacularly unaffordable rates. This is not mortgage selling, this is property acquisition.

They s*it all over the small people (a high percentage being in the black community incidentally) and are suprised when defaults have a knock on effect on bigger lenders, who have bought this junk debt in droves.

Don't you just love em.
:mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad:
AlfaLincs
 

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plenty of american brokers were selling NINJA mortgages - mortgages for people with No Income, No Job or Assetts. and they wonder why their mortgage market is now shot to sh*t?:mad:
 
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Discussion Starter #52
Where are the analysts who work for the banks, who would warn them of buying into this crap? Is the whole business of selling mortgages so devolved to independent brokers that they don't know what the **** is going on? Don't they have a handle on this, or are they just too greedy to care?

*EDIT* Oops, just read your post BF :rolleyes:
 
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Discussion Starter #54
About bleedin' time too, should have done it 5 months ago. Certainly preferable to handing all the assets over to Beardy in return for completely unenforceable guarantees.
 

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I've trying to find what will happen to the shareholders, I've got some shares in this bank, and I don't know if they are being bought back or if we are allowed to trade them in as the stock market have been issued with a notice to suspend all shares? Any one have any ideas?
 

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And listen to the shareholders bleating.

They invested in company with a suspect business model and got their fingers burned.

Welcome to the real word.

<edit>oops, posted at the same time as alimac's ;) nothing personal!! </edit>
 

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By denying a market resolution to the bank's situation, the government has denied the shareholders to get what they deserved. The government's estimation of the value of the shares by definition will be wrong.
 
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