Sunday, Oct 19, 2008
Now I understand when they say a rock and a hard place.
The Independent: Rock borrowers face rate rise – or repossession
'I just don't understand this mad rush of the Government to repossess'
Posted by sosoon @ 12:16 PM (677 views) Add Comment
7 Comments
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1. deepak said...
I think the reason could be if they are competitive they will distrot the market and other banks already on their knees will sue the government.
2. whiteknight said...
Fortunately for them - the banks were bailed out so that they can come and debt collect on you.
3. whiteknight said...
That is, the money was taken from you. Given to the government.
If they didn't lose it ... (looking for a clip from Die Hard 4.0 that would fit well here - (sarcastically) "Have you got it. Are you sure?"
Given to the banks so that they can still be around to knock at your door and ask for their cut.
4. plato said...
First your education,thinking and social responsibility were distorted and now you cannot collectively reason or resist the punishment about to be experienced. An Accident? I don't think so!
5. mark wadsworth said...
Sosoon, can you explain how you insert a picture like that? I can never get it to work.
6. sosoon said...
Mark, go to this site
Try it Editor
7. planning4acrash said...
Interestingly, this process is helping to crash house prices. Matt Kiezer made the point on karmabanque radio that private mortgage companies are complaining about Northern Rock selling off rep'd houses at auction causing the houseprice crash to get bigger!!
You see, thing is, whilst government have been incompetent in letting private business de-fraud us, they are even more incompetent at running any kind of business, simply because they insulate themselves from the price signals of supply and demand with their own welfare system and control of the regulators. So, in many ways, it is positive that government are left holding the bag and comforting that they are incapable of making the decisions that would be self serving. Hopefully cheap houses can now land on our laps!