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Revamped Rules Propose 'health Warnings' On Mortgages And Pensions

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http://www.guardian.co.uk/business/2009/ju...tgages-pensions

In a response to the financial crisis the chancellor will extend the highly visible risk alerts for tobacco and fatty foods to include mortgage and pension products

Alistair Darling will sketch out plans today for a health warning system for financial products as the government seeks to show that consumers will benefit from the Treasury's wide-ranging revamp of the banking industry.

In a much-anticipated response to the financial crisis of the past two years, the chancellor will look at ways of extending the highly visible risk alerts for tobacco and fatty foods to include mortgage and pension products.

The Treasury, braced for criticism that its lengthy document ducks some of the key reforms to prevent another systemic breakdown of the financial sector, will announce a three-pronged strategy. Darling wants improved regulation of the financial system, better management of banks and a better deal for consumers.

Darling has made it clear that he intends to implement all 27 recommendations made by Lord Turner, the chairman of the Financial Services Authority, in his April review of what went wrong in the City.

But the chancellor is likely to concede that it is impossible to implement all the changes at once, with some reforms pushed through immediately and others put off until the next parliament. Among the immediate changes are the requirements for banks to set aside more capital if they provide incentives for traders to take big risks, and for credit default swaps to be pushed through a central clearing system rather than traded in private.

Will we see mortgage billboards now with a huge warning underneath saying the stress of trying to keep up with payment from a liar loan might make you commit suicide.

Financial hardship will age you.

Are you prepared to starve to keep you house when you can no longer afford food?

House prices don't always go up.

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If the warnings followed the fag packet alerts they should be something like:-

"This product, if used exactly according to the manufacturer's instructions, will kill you."

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Will this mean the end of silly warnings like:-

"Your home is at risk if you do not keep up with the payments on it"

?

<_<

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Knowing our lying pro-debt govt its more likely to say something like:

"Your families health is at risk if your LTV ratio is less than 90%"

or

"Families who MEW are statistically proven to live, longer happier lives"

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As I.D. cards have been scrapped, I propose a new version!

> The "Instant Debt" card

All "Credit" Cards should be re-marketed this way - by law!

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Knowing our lying pro-debt govt its more likely to say something like:

"Your families health is at risk if your LTV ratio is less than 90%"

or

"Families who MEW are statistically proven to live, longer happier lives"

"War is Peace"

"Freedom is Slavery"

The war in eastasia is going well.

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As I.D. cards have been scrapped, I propose a new version!

> The "Instant Debt" card

All "Credit" Cards should be re-marketed this way - by law!

+1

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.....

House prices don't always go up.

I think the correct (financial) phrase is:- "past performance is no guarantee of future returns" Is there not already something to that effect on all the Mickey Mouse IFA cons like life assurance and pensions?

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Knowing our lying pro-debt govt its more likely to say something like:

"Your families health is at risk if your LTV ratio is less than 90%"

or

"Families who MEW are statistically proven to live, longer happier lives"

+1

Families who MEW together stay together

........... in a hostel

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