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Solvent Celt

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Posts posted by Solvent Celt

  1. non whites are the only immigrants you feel need 'repartition'?

    :so it's their skin colour that makes them less desirable?

    what are you waffling on about

    the vast majority of immigration over the last few years has been white; that's OK presumably as long as they haven't got dark skin.

    would this 'repartition' be enforced btw?

    "I am not a racist but" :


    Let's not be biased! We need to get rid of the white foreign hordes as well as the non-whites :lol:

    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! :lol: Demand they all go back! Whether they are Black, white, yellow & brown is irrelevant. If they aren't British out!

  2. I suppose you have to look at the alternative - don't bale them out and the banking system collapses totally shafting all of us in the process. A big industrial company going under just doesn't have the same chance of inflicting total meltdown on the rest of the economy so doesn't get the same help. My personal view is that, as well as lending banks money at a higher rate than they would otherwise pay, there should be some kind of fine imposed of a substantial proportion of profits from the period in question - a bit like the way banks fine you or me if we go overdrawn. Don't think that'll ever happen though.

    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. I am agreeing, but the bank is not a company or a person- its a different sort of animal- its a- well a bank

    If you are a company and you are illiquid temporarily, you either go to your bank and get an overdraft or you make your creditors wait.

    In the case of the bank however, they are not required to keep anything like enough liquidity (cash) to pay everybody, hence they are not insolvent because they cant pay as they are a special case

    Its not right I agree, but there it is

    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.

  4. you have to bear in mind that mortagages are secured loans so banks can sell houses to get thier money back. anyone who has bought before the last 12 months will already have a good level of capital in their homes. people who bought moving up the ladder probably already have around 50 to £100,000 worth of capital built up.

    at present the average deposit is about £25,000 for first time buyers and in london its closer to £45,000 so there is a good leeway before we see mass bankruptcy.

    the fact that people cant afford mortgage payments doesnt mean that they are bankrupt.

    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.

  5. I have the weekend free this week and fancied a bit of EA goading - in particular there is a house I like up for £415k - needs full modernisation but is currently empty - done up, the lovely EA will value it at around £500k - i have a friend with a house for sale that started at £415k but is now £375k - in the current climate what do you think a fair offer is?

    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.

  6. Good still I suppose it will be dismissed as "VI spin" :lol:
    The Institute for Public Policy Research is the UK’s leading progressive think tank, producing cutting edge research and innovative policy ideas for a just, democratic and sustainable world.


    With offices in both London and Newcastle, we ensure our outlook is as broad-based as possible, while our International Team, Climate Change Programme, and Migration, Equalities and Citizenship Team extend our partnerships and influence beyond the UK, giving us a truly world-class reputation for high quality research.

    By supporting ippr, you become a partner in this work, helping us to maintain the momentum of progressive thought and shape the policies of the future.

    Enough said. IPPR are multiculturalists. I doubt their ideas of "progress" are the same as most of ours.

  7. Well the oppostion will be forced to support the move. We've had three days of watching pensioners trying to get their savings out of NR. Cameron can't say that he thinks if the bank goes bust they should lose their money - it would be political suicide.

    If that's the case why not support those who had their pensions stolen by shysters like Maxwell? Are they less deserving?

  8. so, what, you guys are saying that the problem isnt made worse by people rushing the bank? The irony is that its the panic that will send the bank down. If people didnt have the mentality displayed in this very thread there wouldnt have been a prob.

    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.

  9. If you read it properly- [can you read?!] - I said "EVERYONE I KNOW HAS BEEN ENCOURAGED TO FIDDLE THEIR MORTGAGE APPLICATION FIGURES": That doesn't mean that they DID fiddle the figures/Lie-to-Buy. In fact, as far as I know, they walked away in disgust.

    Further, happy? [ :P or Miserable? :P:lol: ] Tell us then: What did you state your income as on your application, and what amount did you raise for a mortgage?

    AND - tell me where, in the UK, anyone earning a normal bog-standard wage can buy a property in which to live and house his/her family in a decent manner by taking out a mortgage which does not exceed 3.5 x his/her salary. Most on this site believe this no longer exists - and most on this site think that's wrong. What in effect has happened is this: The VIs and Lenders have waded into the housing "market" and fixed it so that you have to lie and be enslaved for a considerable time just to raise enough to put a roof over your head - and this is tantamount to blackmail. In the process, these same VIs and Lenders have created the Biggest Ever Pyramid Selling Scam - onto which many have climbed unsuspectingly - and their lives are being seriously affected by this. This is wrong - and should not be tolerated in a decent society.

    Unfortunately it's been a long time since we had a decent society Eric.

  10. I cannot deny it -- I didn't like the guy at all -- but HERE - http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770 - he is actually summing up the whole situation VERY well.

    "Personal debt levels have been hitting new highs, month after month, for years and there has been no real attempt to dissipate demand.

    Sub-prime lending has never been properly regulated – and now it is in danger of pulling everyone down.

    Yet again, bankers and those who regulate and police them have placed at risk not only their own jobs but the livelihoods of everyone in Britain and across the world.

    Greed for quick profit is again at the centre of these problems.

    One way to prevent future crashes would be to employ better-quality regulators.

    But for that to happen, they would have to be better paid and have sharper teeth.

    I don't need a computer prediction to tell me that sadly this will not happen any time soon."

    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.

  11. Slight change of subject. Where are you getting the breakfast cereal humour from? Is there a website or are you designing them yourself? I'm finding them quite amusing, so if there's any chance you can include them full size (I haven't seen your avatar before for example) I'd be very grateful.

    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.

  12. “Perhaps if someone in America had looked more closely at who they were lending to ... some of these problems would have been avoided,” Alistair Darling, the chancellor of the exchequer, told BBC radio.

    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.

  13. It is beyond comprehension to me as a priced out taxpayer, why my money is bailing BTL grand central out of the s##t.?

    Everything is sh##e under nu-lab.

    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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