Wednesday, Mar 04, 2009
Didn't someone say there is no sub-prime lending in the UK?
BBC: Problems mount at sub-prime firm
UK sub-prime lender Cattles says there has been a failure of internal accounting controls at the firm and it is suspending three senior managers. The firm currently has a market value of £15m, but borrowing of 2.4 billion.
Posted by peter_2008 @ 03:37 PM (776 views) Add Comment
5 Comments
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1. growler said...
They will be out of business within days.
2. paul said...
"The company also said that its finance director, James Corr, could not fulfil his duties because of ill health."
That's the grown-up's equivalent of "the dog ate my homework".
3. little professor said...
Fraud Fraud Fraud....
"failure of internal accounting controls" = the balance sheet doesn't add up. Predictably noone discovered it until it was too late. They are a dead firm.
4. timmy t said...
This can't be right - I distinctly remember Gordon Brown stating that we don't have sub-prime in this country. BBC got it wrong again...
5. crunchy said...
4. timmy t said...This can't be right - I distinctly remember Gordon Brown stating that we don't have sub-prime in this country. BBC got it wrong again..
How to become a millionaire- bet the opposite way to Brown and shills opinions.