Thursday, Aug 14, 2008
King argues against irresponsible lending
Independent: Bank is powerless to rescue housing, King warns
After six months of falling prices, a rising tide of repossessions and the prospect of millions of families slipping into negative equity, the Governor of the Bank of England, Mervyn King, said yesterday that there was little the authorities could do to prevent a housing crash, if that is what the market demanded.
Posted by quiet guy @ 02:05 PM (234 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. str 2007 said...
This looks quite significant. Maybe Merv is helping Gordon get the crash under way.
2. Markus said...
King seems to be one of the few thinking men in this country. In fact the only thing one can do about such a stupid house price and debt bubble is watching it burst. That is the healthiest thing that has happened in this country for a decade, economically speaking. I can only encourage everybody to look on and observe the crash thoroughly. You may learn something for future and that may help us all to avoid a similar mess in years to come.