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Solvent Celt

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Everything posted by Solvent Celt

  1. Let's not be biased! We need to get rid of the white foreign hordes as well as the non-whites Letting in hordes of white immigrants was a cynical attempt to try and make mass immigration more acceptable. Don't let them get away with it! Be an unbiased bigot like me! Demand they all go back! Whether they are Black, white, yellow & brown is irrelevant. If they aren't British out!
  2. Why would the liquidation of a poorly performing bank cause the entire system to collapse? That's a bit like saying we can't allow Rover to go into liquidation because it will cause the internal combustion engine to stop working.
  3. Why the U turn Merve? Why bail out Northern Crock. If a business is crap it deserves to fail. Why help those investors but not all investors in failed/failing enterprises? Merve the Swerve bottled it. If the government wants to underwrite the banking sector then it should raise the tax take from banks to cover the liability. I'm betting they won't.
  4. I'm afraid just handing the keys back to the Mortgage Company doesn't absolve you of any shortfall on the sale of the property in the UK. This is a US pratice AFAIK.
  5. Temporarily illiquid? That's another way of saying insolvent right? The balance sheet test is in general a poor measure of solvency/insolvency. Here's why. You simply don't know if the balance sheet is accurate until you liquidate the assets. Northern Crock has been unable to sell on it's Mortgage debt. That indicates to me that their current balance sheet value is likely to be overstated. Continuing to "trade with knowledge of insolvency" is an offence and I'm not aware that bankers receive a get out of jail free card in this regard.
  6. It depends how you define insolvent. I stick with "inability to pay debts as they fall due". By that measure they most certainly will be insolvent. People in financial dificulty rarely have just a mortgage owing. Most will put off the problem by borrowing from multiple sources which of course compounds the problem.
  7. If it's empty you could really take the pi$$ by... changing the locks and swapping the for sale sign with that of another agency - watch the bemused looks as the agent can't get access for a viewing he brings around. Advertise the house as a venue for a party on a teen networking site and leave a stash of booze in the back garden along with a PA system. The possibilities are endless.
  8. Enough said. IPPR are multiculturalists. I doubt their ideas of "progress" are the same as most of ours.
  9. err no they aren't. Why is a policeman trotting out this kind of Propaganda? At the risk of stealing Eric Pebbles methods... WHO ARE YOU GOING TO VOTE FOR TO EFFECT CHANGE? A vote for Tor, Labour or Lib Dem is a vote for CONTINUED MASS IMMIGRATION!
  10. If that's the case why not support those who had their pensions stolen by shysters like Maxwell? Are they less deserving?
  11. NR was quoted as having over £100bn in assets with depositors of only £25bn. I guess the problem is one of liquidity. i.e they can't just turn around and convert the assets into cash. Which is of course what they need to do in a bank run.
  12. This is a blatant and disgusting interference in the operation of the market.. If Northern Crock had sufficient assets to cover it's deposits this was totally unnecessary. Will the government underwrite the debts of all failing businesses? If not why not?
  13. If the bank IS solvent then a run won't take it down. If the bank can't meet it's debts as and when they fall due then they are bust. Same as any other business. Except the BOE is standing by with a blank cheque.
  14. Unfortunately it's been a long time since we had a decent society Eric.
  15. Poachers make the best gamekeepers Eric. I thought his article was rather good. Particularly the part on complex computer models being unable to factor in events.
  16. I do them myself. People seem to like the breakfast cereals. I'll start a thread in the off topic section and put them all in there.
  17. Irrelevant. Can it liquidate it's assets rapidly enough to meet depositors demands, pay creditors and meet it's running costs?
  18. Pot - Kettle - Black? The mislabelling of crap as AAA was Jonny Foreigners doing but more fools us for believing it! We should have known this was dog $hit packaged as truffles. But as long as the money kept coming in we weren't bothered.
  19. Not just BTL - The BOE are bailing out the shareholders of Northern Crock as well. Now I guess all is well as long as Northern Crock can pay back the borrowed money - never mind that the BOE seem to have broken their own guidelines.
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