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eric pebble

Fatty Chops On The Prowl.....

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Fatty chops on the prowl.....

Declan Curry reveals the latest banking scandal to hit small businesses.

Interest Rate Swaps: [The New & Modified LIAR LOAN...]

2 mins 15 secs in...

http://www.bbc.co.uk/iplayer/episode/b03bkfm0/The_One_Show_16_09_2013/

Haven't seen him for a while. I see he goes for the shirt outside the belt look now.

Anyway, I guess this will be another drag on savings and the economy/QE - compo has to come from somewhere and the banks are bust.

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Well, I never thought I would see the day that interest rate swaps would be prime time entertainment.

'banks remain committed to ensuring every business gets it's money back' yeah yeah <_<

really, how much of this criminality will it take before something is done?

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Well, I never thought I would see the day that interest rate swaps would be prime time entertainment.

'banks remain committed to ensuring every business gets it's money back' yeah yeah <_<

really, how much of this criminality will it take before something is done?

i am still trying to work out how she managed to cope with a 50% increase in payments when just selling coffee and cakes :o

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i am still trying to work out how she managed to cope with a 50% increase in payments when just selling coffee and cakes :o

&.... What was it - a £750k [+/-??] mortgage PREDATORY LIAR LOAN for a cafe in Newark.....

WOT???? :blink::unsure:

Edited by eric pebble

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Of course if interest rates had gone up they would be giving all the money they would have saved back to the banks? :lol: Yeah right.

It's just more sheeple propaganda. In order to set up a small coffee shop you should be borrowing about 3/4 of a MILLION f**king pounds! and if you haven't then you just not trying enough, you sad losers!

I suspect we will see another massive increase in new car sales..... in about 6 months time.

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Of course if interest rates had gone up they would be giving all the money they would have saved back to the banks? :lol: Yeah right.

It's just more sheeple propaganda. In order to set up a small coffee shop you should be borrowing about 3/4 of a MILLION f**king pounds! and if you haven't then you just not trying enough, you sad losers!

I suspect we will see another massive increase in new car sales..... in about 6 months time.

To be fair, they were very complicated products that were asymmetric: adequate protection as interest rates rise, financial ruin as interest rates fall.

Add to that the target-driven sales methods with dedicated teams travelling the country once the borrowers had been hooked by the local branches, and there's no doubt this was cynical gimme-gimme predation.

If the state is ultimately on the hook for repayments that's the government's fault.

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To hear an outright denial of the banking bust along with plenty of delusion. Yesterday afternoon.

"The whole system was never bust " Professor Tim Congdon.

About 51 minutes in and for about 12 minutes.

5 Live Radio.

http:/

/www.bbc.co.uk/programmes/b039x04m

They have to pretend that there was never a serious problem and the problems are now over to convince people to buy into the flotations - and to convince people about the so called "boom".

Edited by billybong

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Of course if interest rates had gone up they would be giving all the money they would have saved back to the banks? :lol: Yeah right.

It's just more sheeple propaganda. In order to set up a small coffee shop you should be borrowing about 3/4 of a MILLION f**king pounds! and if you haven't then you just not trying enough, you sad losers!

I suspect we will see another massive increase in new car sales..... in about 6 months time.

No, it is the way they were sold. They were sold as insurance for which the company paid a monthly premium. However, as the bank started gaining on them, they wanted margin from the clients, but lumped it onto the monthly "premium". WHen businesses said, i don't want the "insurance" any more thanks, the bank said "OK, that will be x 100s of thousands to terminate....". Don't even get me started on the bank's option to tear upt he contract on the "insurance" after 3 years......

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No, it is the way they were sold. They were sold as insurance for which the company paid a monthly premium. However, as the bank started gaining on them, they wanted margin from the clients, but lumped it onto the monthly "premium". WHen businesses said, i don't want the "insurance" any more thanks, the bank said "OK, that will be x 100s of thousands to terminate....". Don't even get me started on the bank's option to tear upt he contract on the "insurance" after 3 years......

also, "you can only roll over your existing business loan if you take out the insurance"......

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No, it is the way they were sold. They were sold as insurance for which the company paid a monthly premium. However, as the bank started gaining on them, they wanted margin from the clients, but lumped it onto the monthly "premium". WHen businesses said, i don't want the "insurance" any more thanks, the bank said "OK, that will be x 100s of thousands to terminate....". Don't even get me started on the bank's option to tear upt he contract on the "insurance" after 3 years......

They were deliberately targeted and 'sold' to people they hoped wouldn't understand what they had signed up for - and just to be sure they intentionally miss lead, confused and omitted facts.

In addition, they were classed as a compulsory insurance for loans. The banks knew what they were doing, and unless the statute of limitations for claims is extended, they will get away with a lot of it. Win win for the banks. What they do end up repaying will likely be met by us any way...

:huh:

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