Tuesday, Apr 29, 2008
Comical Ali(stair) made false claims
Times: King denies £50bn lifeline will renew mortgages
Here we go... the truth is £50bn were meant to prop up banks balance sheets and profits... not a lifeline for home owners and BTLs alike (big big laugh)
Posted by confused76 @ 09:34 PM (872 views) Add Comment
21 Comments
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1. renting2 said...
This is actually so sad. What have we in the UK become? We are allowing (have allowed?) a bunch of financiers do to us what history's most powerful navies, armies and air forces couldn't.
Ponder and wonder.
2. titaniccaptain said...
"In an embarrassing blow to the Chancellor, Mr King told MPs that Government hopes for the funding lifeline ending the crippling mortgage drought were exaggerated."
“It is not designed to kickstart the mortgage market,” he said. “This is designed to restore confidence in the banking system, not to regenerate any aspect of the mortgage market, or achieve anything else.”...............................Captain Darling and Golden Brown.............what can I say?.......Why do we allow these idiots to remain in power they have created a mess so bad that it will take years to get out of it..................We are all bloody sheep...........as billy connelly sang "The revolution's been postponed due to inclement weather"
3. planning4acrash said...
Renting2. They are one and the same. Who do you think bank roll the navies and infantry? Interest payable by yours truly. I'll give you a clue. I think financiers have something to do with it! they still bank roll wars where they can't control the $supply
4. planning4acrash said...
During n b4 the middle ages. Countries conquered were offered truce 4 taxes, coz money supply controlled by stable gold standard. Now, truces r offered in return 4 turning over control of fiat $ printing 2 the international banking cartel, Fed, et al.
5. icarus said...
planning4 @3 - spot on. There's SO much evidence. For now let's just quote the first Mrs Rothschild: "If my sons did not want wars there would be none".
6. planning4acrash said...
Again. Lets call it by its true name. Corporate Fascism. Do you think they're onto me yet?!
7. sold out said...
It was obvious to most of us here that the 50 billion bail out was just for the Banks,to try and prevent another Northern rock.It never had much to do with the Morgage market,That was just nu liebour lies,a shoddy attempt to make it look like the goverment was doing its best to help homeowners and prevent the HPC.
8. alan said...
Considering so many Hollywood science fiction films feature Corporate Fascism, it's surprising that people haven't cottoned on to what's happening - Arnie and Robocop gave them enough clues.
What's more, Captain Darling is being exposed as not knowing much about the impending impacts of the biggest bail-out in history!
Oh dear, we are right up the Swannee !
9. titaniccaptain said...
There is another way of looking at this...........prehaps Darling and brown are doing exactly what their masters want them to do and they are simply puppets.....there are those that I would not dare mention on this site who could be behind this illusion of incompitency and we are all being played.......divide and conquer
10. icarus said...
Darling and King aren't even singing from the same hymn sheet. You might expect this in private but when it's public is just incompetence - AND there are 11 or 12-figure sums involved.
11. mark wadsworth said...
This is just reason number 1,346 why no sane person should ever vote Labour ever again.
12. planning4acrash said...
TC. You may not feel confident to say who's behind it. But I'd be interested to know why you feel that way.
13. titaniccaptain said...
@P4AC
Its not a question of confidence mate its a case of if you know who im on about you know if you dont you dont sorry to be so vague. Im going to shut up now
14. planning4acrash said...
Mark. Why the FU$K should anybody vote for your Tories. They've said bugg$r all of value about the crisis, voted for Iraq & talked today about further banning strikes. They paved the way for this & pose NO radical departure. Look at Doris Boris 4 example!
15. paul said...
I think dbnazz was the first to identify that the banks were not viewing the £50bn in quite the same way as Broon and Darling.
Darling: "We're doomed doomed doomed doomed doooooomed"
Broon: "Daaaaarling!"
(does anyone mind my youtube excesses? Just say so ... )
16. paul said...
What's more:
"However, he insisted that, not only was the rescue scheme not directly intended to bolster mortgage lending, but that he opposed any return to past conditions of easy money for borrowers and homebuyers."
Thank goodness there is some sanity. I'm always a bit on the fence about King - sometimes I think he's being blinkered and naiive other times he seems to take leave of his political senses and actually says the right thing.
17. enuii said...
Anyway, hidden away in the body of the article was the little nugget (he made plain that his determination that the price of the Bank’s £50 billion to £100 billion lending lifeline) that indicates the real figure was just for starters.
18. planning4acrash said...
TC, I get it. Mention the names and idiots, or smokescreens like Icke have placed ideas into people's heads that the banking cartel are a fiction or hysteria. So, yes, mention them, and you sound mad.
The only kernel of hope, is that most people are sucked in because they think the best of people. This means that most people are good people most of the time. BUT trust, once lost, cannot be regained without radical reform.
19. titaniccaptain said...
@planning for a crash
you got it bro
20. Doom&gloom said...
You know I almost believed Gordon Brown from about 2002-2006 with his 'no more boom and bust' and 'sustainability' talk. I was suckered. Now he's being shown up as just as clueless as every politician before or after him. There's no party political answer to this - the tories would have made exactly the same errors (Lamont, Lawson, the others) and we'd be exactly where we are now anyway. There's really no option for us as voters which can make a difference.
But Tony Blair could not have timed his 'exit stage left' any better. I hope I can time my own exit as masterfully and work out where to go in the world with my piles of soon-to-be-useless pounds and euros.
21. Still Renting said...
I think people have been a little unfair to King. From the start he said that this scheme was to prevent bank failures, Northern Rock style, by providing almost unlimited liquidity at a price. It was deliberately designed not to provide cash for new lending, partly by being expensive, and partly because only MBS type assets created before the beginning of 2008 can be used as collateral. None of this means that it won't stimulate some new lending, but as far as possible it minimises the risk.
Brown and Darling are the ones who spun it as help for the poor mortgage borrower, as part of their desperate attempts to win back the middle class vote.
King also said that £50bn was an estimate of the initial demand, but the scheme is effectively unlimited and that £100bn or more might be needed.
Despite the claims of the conspiracy theorists, he seems to be doing his best to remain independant, despite the doubtless intense political pressure from Downing Street.