Wednesday, Aug 27, 2008
Solid As A ****
Times Online: Northern Rock defaults leave taxpayers facing bill
Fears that taxpayers may end up footing an even bigger bill for Northern Rock intensified yesterday after it emerged that the nationalised bank was suffering dramatically high default rates.
Posted by renting2 @ 11:45 AM (705 views) Add Comment
5 Comments
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1. d'oh said...
Nooo...who'd have thought it?!
2. george monsoon said...
Well, looks like I am doing the right thing by buying raffle tickets for a house.
The odds are 50,000 to one that I will win, but hey, thats better odds than I would get if I tried to find a mortgage with a 3 grand deposit!!
3. plato said...
Was predicted all along by HPC bloggers. Isn't it time to pull the plug and stop this nonsense? What is this idolism with banks - are they to be considered as immortal?
Not only are Universal Laws being broken but also Ethics.
4. handle_it said...
Sorry if this has been suggested before. If a sub-prime borrower purchases a property the vendor should take-on responsibility. The total fund should not be transfered at the point sale but over a set amount of time.
5. japanese uncle said...
As solid as Diana's Rock