Tuesday, Jul 29, 2008
But will Darling listen?
Times: Sir James Crosby [ex-chairman of HBOS] tells Alistair Darling to reject US idea
"Sir James Crosby is expected to reject any suggestion that the Government set up a mortgage agency similar to Fannie Mae and Freddie Mac, the two troubled American companies that nearly collapsed recently. It seems unlikely that it would be right to tackle Britain's problems with last century's solution, particularly given the time that it would take to create any such agency. When the review was launched in April, Sir James said that he wanted to find market solutions to the problem."
HERE'S A SIMPLE market solution: house prices are too high, let them fall and everything will be fine again. Luckily we can trust politicians to delay making a decision for long enough!
Posted by drewster @ 01:30 AM (291 views) Add Comment
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