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Teddy Bear

The Other Elephant In The Room: The Fsa Decision On Loan To Income Ratios

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For those about to jump into the bear trap you might want to wait for the FSA's review in Sept. They bottled making a decision in March and instead went for a consultation period. I've no doubt they will of been subjected to extensive lobbying by the VI's but given they know the next Tory goverment will be stripping them of their regulatory role so given they've nothing to loose anyhow don't be suprised to a see a parting shot from them.

http://www.fsa.gov.uk/pages/Library/Commun...9/0706_lt.shtml

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Yes I had hope back in March the FSA would do something about lending, but guess what they will do feck all. In anycase the banks are effectively back to being banks, boring and prudent so the FSA at best would only enshrine today's lending practices into a code of best practice.

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For those about to jump into the bear trap you might want to wait for the FSA's review in Sept. They bottled making a decision in March and instead went for a consultation period. I've no doubt they will of been subjected to extensive lobbying by the VI's but given they know the next Tory goverment will be stripping them of their regulatory role so given they've nothing to loose anyhow don't be suprised to a see a parting shot from them.

http://www.fsa.gov.uk/pages/Library/Commun...9/0706_lt.shtml

Not sure how much of an elephant it is now did you not see this last week?

FSA Strict Mortgage Limiits Not Desirable

I have read so many so called regulatory frameworks Police /Law Society / Bar Council to know that all of them are written to sound good but in practice mean nothing. I have absolutely no doubt that whatever the FSA propose will be just more of the same.

Edited by Sybil13

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Not sure how much of an elephant it is now did you not see this last week?

FSA Strict Mortgage Limiits Not Desirable

I have read so many so called regulatory frameworks Police /Law Society / Bar Council to know that all of them are written to sound good but in practice mean nothing. I have absolutely no doubt that whatever the FSA propose will be just more of the same.

seasy:

Loans compulsory, on demand, no need for checks, just value the target property.

with these criteria, I can guarantee, prices WILL only go up.

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I think regulators are on the whole a waste of time: they allow everything the institutions want to do. The real penalty for bad decisions is going bankrupt, which is what the government is preventing with bail-outs.

I reckon the whole room is so full of elephants, it makes the VI green shoots chorus hard to hear: chinese retrenchment, total bank liabilities, fiddled unemployment and gdp figures, capital flight, foreign war costs, public sector pension liabilities, brain drain etc.

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