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so does your pension.. these AAA "assets" were sold on to investors.

The proceeds of the sales were used to create ever more loans.

this is why we need banks to keep lending, that shack "should" be worth at least $200K now and would get the banks of the hook.

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so does your pension.. these AAA "assets" were sold on to investors.

The proceeds of the sales were used to create ever more loans.

this is why we need banks to keep lending, that shack "should" be worth at least $200K now and would get the banks of the hook.

It goes a long way to explain why my pension is worthless. It's also worth noting how much of the so-called "equity loan" went on fees and commission.

PS Make sure you watch the slideshow to appreciate the full potential of this remarkable investment opportunity.

Edited by Dangerous Woman
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It goes a long way to explain why my pension is worthless. It's also worth noting how much of the so-called "equity loan" went on fees and commission.

PS Make sure you watch the slideshow to appreciate the full potential of this remarkable investment opportunity.

fees and commisssions not clawed backthrough non performance I would wager

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every bank in the uk should be made to show all the su-prime loans on their books...this drip,drip,,must stop !!! no more bail outs ....

Im not an economist, im not an academic, in fact im really quite ordinary and dull, BUT, wasnt it obvious a year ago that the quickest way out of this hole was all banks slapping their old chaps on the table and coming clean.

This occurred to me ages ago. This crisis is a HUMAN one as much as any other factor.

Any decent leader would have put their own short term electoral prospects 2nd to the truth coming out and FORCED the banks to declare their positions. Ironically, he might even have stood more chance of properly deflecting the blame on the banks if he'd taken that course. Too late now. Too late for everyone.

Bail the depositors, throw the shareholders to the wolves, and let the bad banks go.

Would have cost sod all compared to this, AND saved 1000's of jobs.

McTwats paws are all over this like a rash. This is about elections and NOTHING else.

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HSBC are no different from any of the other banks. They've all done the same things, some are just better than the others at hiding the extent of the damage on their books. Or less concerned about their books reflecting what you would call a common sense picture of their financial situation.

Take Barclays for example, unlike most, it is still refusing to write-down their Ambac insured securities on the ground that Ambac will be able to remit in full its insurance payments.

Other banks are negotiating recovery rates of 60c on the dollar with Ambac.

Barclays approach makes them look better on the books (if you don't know what they're up to) but their refusal to admit reality probably puts them in a worse position than their competitors.

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Im not an economist, im not an academic, in fact im really quite ordinary and dull, BUT, wasnt it obvious a year ago that the quickest way out of this hole was all banks slapping their old chaps on the table and coming clean.

This occurred to me ages ago. This crisis is a HUMAN one as much as any other factor.

Any decent leader would have put their own short term electoral prospects 2nd to the truth coming out and FORCED the banks to declare their positions. Ironically, he might even have stood more chance of properly deflecting the blame on the banks if he'd taken that course. Too late now. Too late for everyone.

Bail the depositors, throw the shareholders to the wolves, and let the bad banks go.

Would have cost sod all compared to this, AND saved 1000's of jobs.

McTwats paws are all over this like a rash. This is about elections and NOTHING else.

I've read an explanation for the politicians' approach that makes sense. Nationalising all the banks would be too expensive as long as some can still pretend that they are healthy. So TPTB fiddle around until no bank can hide the true extent of its trouble (a matter of months), and then they nationalise the lot.

I don't know if it is true but it makes some sense.

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every bank in the uk should be made to show all the su-prime loans on their books...this drip,drip,,must stop !!! no more bail outs ....

If they could do that we wouldn't be in quite the mess we are in.

It's because they have no way of identifying the bad loans that things are as bad as they are!

tim

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