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agmoldham

Another 130 Billion Losses In Pipeline For Uk Banks

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Moody's Bank Losses

U.K. banks are less than half way through posting 240 billion pounds ($398 billion) of losses on loans and securities, a reflection of the country’s economic weakness, according to Moody’s Investors Service Ltd.

British banks are likely to record losses of at least 130 billion pounds, in addition to 110 billion pounds lost since the beginning of the credit crisis in 2007, Moody’s said in a report today.

I just heard this mentioned on Newsnight and can't see any mention of it on here. Not good news for any of us bearing in mind we're all shareholders in the banks.

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Didn't bank losses get capped when they entered the special insurance scheme? Headline should read British taxpayer to spuff another £130bn making sure the rich stay rich. I'm glad the status quo has been maintained it is much easier for me to cope with as a lowly humble serf.

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Didn't bank losses get capped when they entered the special insurance scheme? Headline should read British taxpayer to spuff another £130bn making sure the rich stay rich. I'm glad the status quo has been maintained it is much easier for me to cope with as a lowly humble serf.

It's nothing short of the Greatest Scandal in History.

Banks sell £TRILLIONS of LIAR LOANS; THE GREATEST FRAUD & PYRAMID SELLING SCAM IN ALL HISTORY;

THEY INEVITABLY FAIL;

WE the TAXPAYERS BAIL THEM OUT.

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It's nothing short of the Greatest Scandal in History.

Banks sell £TRILLIONS of LIAR LOANS; THE GREATEST FRAUD & PYRAMID SELLING SCAM IN ALL HISTORY;

THEY INEVITABLY FAIL;

WE the TAXPAYERS BAIL THEM OUT.

a tad on the harsh side i think, to an extent you should feel quite proud and privilegedl as you are participating in the the UK's biggest economic collapse for well over a century, its something to tell your grand kids. As somebody fascinated by Finance through History im finding it extremely interesting and educational and its being made even more interesting as everyone is hopelessly trying to stop it making the end game worse rather than letting the inevitable happen so we're getting to see it in slow motion.

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a tad on the harsh side i think, to an extent you should feel quite proud and privilegedl as you are participating in the the UK's biggest economic collapse for well over a century, its something to tell your grand kids. As somebody fascinated by Finance through History im finding it extremely interesting and educational and its being made even more interesting as everyone is hopelessly trying to stop it making the end game worse rather than letting the inevitable happen so we're getting to see it in slow motion.

Yes it is all marvellously fascinating but is it time to start setting fire to things yet? Wake me up when we're there.

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a tad on the harsh side i think, to an extent you should feel quite proud and privilegedl as you are participating in the the UK's biggest economic collapse for well over a century, its something to tell your grand kids. As somebody fascinated by Finance through History im finding it extremely interesting and educational and its being made even more interesting as everyone is hopelessly trying to stop it making the end game worse rather than letting the inevitable happen so we're getting to see it in slow motion.

Why should people stand by and let it happen? :blink:

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a tad on the harsh side i think, to an extent you should feel quite proud and privilegedl as you are participating in the the UK's biggest economic collapse for well over a century, its something to tell your grand kids. As somebody fascinated by Finance through History im finding it extremely interesting and educational and its being made even more interesting as everyone is hopelessly trying to stop it making the end game worse rather than letting the inevitable happen so we're getting to see it in slow motion.

HPC will be a fascinating (future) historical record/repository of the current social commentry and thought processes as we go thru these financial disaster years too - from before the start when a few of us realised something was deeply wrong in the city/govt/housing etc to whatever lays ahead!

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HPC will be a fascinating (future) historical record/repository of the current social commentry and thought processes as we go thru these financial disaster years too - from before the start when a few of us realised something was deeply wrong in the city/govt/housing etc to whatever lays ahead!

I agree with this.

Me and some friends were discussing the whole house price issue recently; we all agreed, over the last 10-15 years, no less than the World Economy has been put at the edge of systematic failure thanks to the vast machine geared to using housing and house prices as a means to get rich quick. A vast proportion of the banking system was built up and manipulated to organise just one thing: The massive increase in property prices.

Systematic fraud was used, by means of false mortgage applications, lying about incomes and values. This was facilitated by the incredible CDO's and SIV's; these were where millions of mostly fraudulent mortgages were stacked up, shuffled, re-stacked and sliced, and then sold as "AAA" "investments". What is amazing is how long it took before the whole charade imploded and collapsed.

But the whole system relied on poperty as the chief vehicle upon which the whole scam was run on.

What is also incredible is how so few of the perpetrators have been investigated and prosecuted. Especially in the UK. There is so much that could be done in this regard. Trace the mortgages issued by HBOS and all its subsidiaries, Northern Rock, RBS, Bradford & Bingley, [to name just some of the main players]. Take out a sizeable portion of these, and trace them back to the customer; investigate the way in which they were signed off; investigate the actual incomes recorded on the forms, and compare them with tax records. Trace all those hundreds of thousands of mortgages which have foreclosed, to find out why. Etc.

It is amazing how all this appears to have been swept under the carpet, leaving the considerable, almost unimaginable bad debts to be left in the hands of the taxpayers.

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I agree with this.

Me and some friends were discussing the whole house price issue recently; we all agreed, over the last 10-15 years, no less than the World Economy has been put at the edge of systematic failure thanks to the vast machine geared to using housing and house prices as a means to get rich quick. A vast proportion of the banking system was built up and manipulated to organise just one thing: The massive increase in property prices.

.../

It is amazing how all this appears to have been swept under the carpet, leaving the considerable, almost unimaginable bad debts to be left in the hands of the taxpayers.

On the nail.

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