Wednesday, Feb 20, 2008
Rock rubbish? Oh, you mean all the SUBPRIME stuff.
BBC "News": Taxpayers to get Rock rubbish
Yes, its that word again whose name they dare not speak. When does an asset cease to be prime and start to be subprime exactly??
Posted by paul @ 01:49 PM (905 views) Add Comment
13 Comments
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1. mark wadsworth said...
That's the effect of Nulabour's reverse Midas touch.
2. hpwatcher said...
I'm not surprised that the decent stuff has been effectively swiped, and the NR is going to be left with the absolute rubbish mortgages....it means there will be greater pressure on the govt to make sure there isn't a HPC.
3. hpwatcher said...
I think the whole NR saga is nothing other than an attempt by a rubbish government to make it look like they know what they are doing.
4. An Bearin Bui said...
It's not subprime: it's leverage-challenged with an alternative risk profile. All mortgages have their place in an enlightened and tolerant society... it's a lifestyle choice that we should respect...
5. Plato said...
This is a very serious issue, exempting NR from FoI Laws, is yet another 'legal' manipulation under the guise of commercial confidentiality.
This should be challenged strongly as it cannot possibly be in Public Interest. Nationalisation is Just that and must be given Equal Opportunity. Is there a good Lawyer out their?
6. enuii said...
Mark, you mean everything they touch turns to Lead.
7. mark wadsworth said...
Enuii, lead is quite valuable, if anything, the substance I am thinking of is the same colour as our Sub-Prime Ministers surname
8. wiltshire said...
This is really worrying and I really really hope someone in the House Of Lords kicks up an almight fuss about this. Brown and Darling (and Bliar) seem to think making the right noises (i.e. "it's in the best interests of the public") is all that is required - whilst they actually do the opposite and stitch up the public. Labour simply cannot be trusted any longer, they are both incompetant and corrupt.
9. little professor said...
They've changed the headline of the article from "Taxpayers to get Rock rubbish" to "Darling hits back over Rock trust"
http://www.newssniffer.co.uk/articles/98873/diff/1/2
http://www.newssniffer.co.uk/articles/98873/diff/6/7
10. paul said...
That's a good find professor.
They've had the "TOW THE PARTY LINE" phone call obviously.
11. Duncan said...
The thing I have been wondering is who exactly will own Granite ?
If it isn't Nationalised NR and isn't the shareholders (who are being told they will get very little) who will it be ?
The Adam Applegarth retirement fund ?
12. denzil said...
A bearin bui said:
>>It's not subprime: it's leverage-challenged with an alternative risk profile.
Brilliant. I howled with laughter at that. Do you work in PR perchance as Gordon Brown needs a make-over and some PR.
13. it_is_going_with_a_bang said...
Darling Alistair but do you REALLY expect anyone to believe a trust based in Jersey is out to anything other than make a killing on some quality mortgages / loans.
It's bad enough that its Nationalised without selling all the good bits off to your chums.