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Just watching it now. Great stuff. Why arnt people being thrown in prison for this ?
Watch The Famous 2003/4 Mortgage Fraud Programme
At last - Watch the whole thing here -- IT IS PHENOMENAL!
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#16
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Posted 09 July 2008 - 08:19 PM
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#17
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Posted 09 July 2008 - 08:21 PM
eric pebble, on Jul 9 2008, 08:54 PM, said:
[size=4]OK everyone!
I have - for nearly FIVE YEARS!!! - gone on about The Money Programme about MORTGAGE FRAUD that was broadcast at the end of 2003 and start of 2004!!!
I have - for nearly FIVE YEARS!!! - gone on about The Money Programme about MORTGAGE FRAUD that was broadcast at the end of 2003 and start of 2004!!!
It wasn't the money programme but I also remember watchine a property documentary around the
same time. They had the boss from Bradford & Bingley on it. He was ramping btl as a win, win
situation as all those he loaned money to to purchase a btl would have good jobs and were more
than happy to subsidise the tenants rent. Mmmm, hindsights a wonderful thing.
#18
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Posted 09 July 2008 - 08:23 PM
sambino, on Jul 9 2008, 09:19 PM, said:
Just watching it now. Great stuff. Why arnt people being thrown in prison for this ?
The problem seems to be: banks knew dam well what was happening.
Borrowers lied - banks were thoroughly complicit.
#19 Guest_Bart of Darkness_*
Posted 09 July 2008 - 08:28 PM
Good to see you back Eric, and what a way to return.
Indeed. I'd like to add a virtual pat on the back to all those Bosh is likely to receive. Excellent work.
(Good job they are virtual otherwise poor Bosh would be black & blue by now!)
eric pebble, on Jul 9 2008, 08:59 PM, said:
All thanks to Bosh --- he deserves a serious pat on the back!!
Indeed. I'd like to add a virtual pat on the back to all those Bosh is likely to receive. Excellent work.
(Good job they are virtual otherwise poor Bosh would be black & blue by now!)
#20
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Posted 09 July 2008 - 08:48 PM
best bit is when mr joe public is shown the videotape and expresses disbelief that someone who works for an estate agency (the broker) would act dishonestly!
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#21
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Posted 09 July 2008 - 08:53 PM
Mods:
Can we pin this video link somewhere (maybe the resources link?)
I'll go mad if I have to trawl the forum at some point in the future if I want to find the video through this thread.
Thanks,
Can we pin this video link somewhere (maybe the resources link?)
I'll go mad if I have to trawl the forum at some point in the future if I want to find the video through this thread.
Thanks,
#22
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Posted 09 July 2008 - 09:03 PM
GREAT FIND ERIC, KEEP UP THE GOOD WORK!!!!
#23
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Posted 09 July 2008 - 09:10 PM
*round of applause*
#24
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Posted 09 July 2008 - 09:11 PM
My Blog
Although Injin has the forum style & manners of a psychopath who has injected caffine and Redbull into his eyeballs, then logged on to a message board to "see what happens", he is also generally right in his observations so far - RJG18
Although Injin has the forum style & manners of a psychopath who has injected caffine and Redbull into his eyeballs, then logged on to a message board to "see what happens", he is also generally right in his observations so far - RJG18
#25
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Posted 09 July 2008 - 09:13 PM
In 2004/5 the 'fraud' was reduced. The higher multiples were legalised through an introduction of affordability instead of salary multiples
This post has been edited by moosetea: 09 July 2008 - 09:15 PM
I have bought a newish (5 years) house in November 2006. I talked the vendor down 30% off peak 2004 price am am paying less than the 2002 price. I feel prices will continue to drop down to the 2001 price but saving for 5 years hopefully means i wont be stung. The price i am paying isn't much above the price the vendor paid for the place when it was new in 2000. However some idiot is trying to flog an identical house on my road for 55k above the price i paid, one month later!?!?! The housing market is frothy, no-one ever knows what the value of a house is, the value is what someone is willing to pay, make sure you pay alot less than the asking price.
Free to collect, like ebay but you dont pay, you just have to collect
QUOTE (sledgehead)If you make a living from something, you are a professional something: it is your profession. You could bake dog turds and flog them as ornaments. If that's how you make your living, you ARE a professional dog-turd baker. Period
QUOTE (Rolling Stone 13th July 2000)The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.
QUOTE (Soon Not a Chain Retailer @ Aug 30 2009, 01:03 AM) Society should provide trampolines not safety nets.
QUOTE (GordonBrown Jan 27 2008 (warning about the coming inflation?))if you don't get the skills you wont get a job
if you get the skills you will earn ALOT of money
Free to collect, like ebay but you dont pay, you just have to collect
QUOTE (sledgehead)If you make a living from something, you are a professional something: it is your profession. You could bake dog turds and flog them as ornaments. If that's how you make your living, you ARE a professional dog-turd baker. Period
QUOTE (Rolling Stone 13th July 2000)The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.
QUOTE (Soon Not a Chain Retailer @ Aug 30 2009, 01:03 AM) Society should provide trampolines not safety nets.
QUOTE (GordonBrown Jan 27 2008 (warning about the coming inflation?))if you don't get the skills you wont get a job
if you get the skills you will earn ALOT of money
#26
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Posted 09 July 2008 - 09:18 PM
Well done Bosh and seconded on pinning this somewhere.
This was 2003.
Good Lord, the economy and the lenders are thoroughly and utterly shafted.
This was 2003.
Good Lord, the economy and the lenders are thoroughly and utterly shafted.
Plus ça change, plus c'est la même chose
#27
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Posted 09 July 2008 - 09:20 PM
moosetea, on Jul 9 2008, 10:13 PM, said:
In 2004/5 the 'fraud' was reduced. The higher multiples were legalised through an introduction of affordability instead of salary multiples
That thought occurred to me too while watching it. It was fraud which kick started the bubble though.
Caught in your bad finance
#28
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Posted 09 July 2008 - 09:21 PM
The man reading the introduction had a very familiar voice... I listened again.... it had a LOT of bruno features about it!
#29
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Posted 09 July 2008 - 09:30 PM
Well done Bosh, and thanks Eric.
And that was only 2003 when we were in La Land. Now that we're in La La La La La La Land, I'm so glad I've got the bulk of my savings out of HBOS!
And that was only 2003 when we were in La Land. Now that we're in La La La La La La Land, I'm so glad I've got the bulk of my savings out of HBOS!
Yours,
Not quite as radge as the name suggests.
Cut out the middle man: Rent the property, not the money.
Not quite as radge as the name suggests.
Cut out the middle man: Rent the property, not the money.
#30
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Posted 09 July 2008 - 09:31 PM
Confounded, on Jul 9 2008, 09:13 PM, said:
Eric thanks for the post, a bit of great HPC nostalgia.
This was seminal moment for me with regards for the impending HPC. At the time I naively thought this whistle blowing would have caused enough ripple to potential cause the start, little did I know it was going to go on for another 4 years!. I did not trade up and buy a bigger house for which I am very grateful to this programme for. Then I found HPC.co.uk in middle of 06 and the veil was lifted further and the true horror of what we now face became clear.
This was seminal moment for me with regards for the impending HPC. At the time I naively thought this whistle blowing would have caused enough ripple to potential cause the start, little did I know it was going to go on for another 4 years!. I did not trade up and buy a bigger house for which I am very grateful to this programme for. Then I found HPC.co.uk in middle of 06 and the veil was lifted further and the true horror of what we now face became clear.
ditto
Its not a house price boom, its a credit feast and now its time for the hangover
No bankers were harmed in the making of this bailout
No bankers were harmed in the making of this bailout
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it