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ralphmalph

One For Eric - Deutsche Bank Fined For Liar Loans

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if other banks are being investigated, it is highly likely that we taxpayers already own the banks, and we taxpayers could then end up paying compensation to punters who took out these loans.

The FSA seems to still not get it. A liar loan, an IO with no repayment vehicle, a high LTV is a high risk for borrower and lender both. If the borrower signed the form giving false information on which `affordability' was to be assessed and if the bank didn't check, they should both be fined and the borrower removed from any entitlement to protection from repossession.

If Deutche Bank committed a crime, who were the victims? (rhetorical, before you all jump in).

Y

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Having read a bit more it seems that DB were making all sorts of misdemeanors not just liar loans. The telegraph is saying that the people that will get compensation are the customers that proved there income and then were offered a massive multiple for a mortgage when they should have been told no. Also there seems to have been no requirement for a repayment vehicle to accompany an IO loan whereas other lenders specified one should be in place, but just never bothered checking.

So it seems liar loan people will not be getting compensation.

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Having read a bit more it seems that DB were making all sorts of misdemeanors not just liar loans. The telegraph is saying that the people that will get compensation are the customers that proved there income and then were offered a massive multiple for a mortgage when they should have been told no. Also there seems to have been no requirement for a repayment vehicle to accompany an IO loan whereas other lenders specified one should be in place, but just never bothered checking.

So it seems liar loan people will not be getting compensation.

Ha!! The whole exercise is to sweep some dirt under the carpet - and ignore a whole continent-sized pile of toxic waste - sitting in the room in the form of an elephant..... or, indeed, mammoth... :rolleyes:

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if other banks are being investigated, it is highly likely that we taxpayers already own the banks, and we taxpayers could then end up paying compensation to punters who took out these loans.

The FSA seems to still not get it. A liar loan, an IO with no repayment vehicle, a high LTV is a high risk for borrower and lender both. If the borrower signed the form giving false information on which `affordability' was to be assessed and if the bank didn't check, they should both be fined and the borrower removed from any entitlement to protection from repossession.

If Deutche Bank committed a crime, who were the victims? (rhetorical, before you all jump in).

Y

That is why the taxpayers own such huge amounts of the banks....for now. The greatest heist in history and the perfect set up for the end play--no one can enforce any effective system of accountability via punishments. The victims are, as usual, you and I.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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