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Sour Mash

Good Summation Of The Us Sub-prime Crisis (cdos Etc)

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http://www.bbc.co.uk/blogs/thereporters/robertpeston/

What that means is that the eventual purchaser of the collateralised debt obligation has no more idea what’s in that bond than a sap eating a Turkey Twizzler knows what he or she is eating.

(edited to add quote from article)

Good article. I always think Robert Peston is good when he is on the BBC and he should be on more. Shame the BBC is so averse to giving business and important economic issues a decent slice of air time.

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Good article. I always think Robert Peston is good when he is on the BBC and he should be on more. Shame the BBC is so averse to giving business and important economic issues a decent slice of air time.

Always nice to see good, informed analysis. Shows that their journalists know what they are talking about.

I'd love to see 'Wee Declan's thoughts on these matters, what with his insightful pieces on breakfast TV. :P

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Damn, you beat me to it!

Good article, I would recommend reading it.

Liars’ loans

The underlying cause of the current global financial crisis is a system in which there’s little personal responsibility for lending decisions...

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Trouble is, for every good article the BBC come up with, they have to spoil it all by publishing something like this....

Does a trillion pounds of debt matter?

Media stories suggest the nation's debt is at worrying levels. But what's the full story, behind the statistics in the headlines?

Debt in the UK is out of control, hurtling to record levels, now well past £1 trillion.

Lenders can't chuck out cheap cash quickly or irresponsibly enough, the economy is built on shadows, bankruptcies are rising and the crunch is coming.

That's a story you've probably heard. Here's another.

Debt is basically fine. In fact, we're coining it in the UK, with more wealth stretching ever further ahead of the amount we owe.

The people in trouble - who do exist - are a tiny minority accounting for a vanishingly small part of the trillion. Most debt is a sign not of penury, nor impending crash, but prodigiously increasing wealth.

Not really. The number of pounds in circulation in the British economy doubles through a combination of economic growth and inflation, every 15 years. It quadruples every 30 years. The number of pounds of almost everything multiplies madly, almost all the time. This is normal. It's what happens in the good times.

:huh:

BBC Webpage

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Trouble is, for every good article the BBC come up with, they have to spoil it all by publishing something like this....

:huh:

BBC Webpage

Yep - was just reading that and about to post it too until I saw that someone else had started a thread about it. It's jaw-droppingly bad isn't it?

Looks like the BBC feel obliged to 'balance' a bit of good, truthful journalism with a steaming heap of VI crap. :angry:

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