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Realistbear

Its Gone Mainstream Now -- Sun Next?

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http://news.bbc.co.uk/1/hi/business/6983036.stm

Last Updated: Friday, 7 September 2007, 11:31 GMT 12:31 UK

US loan woe 'to hit UK mortgages'

Can the Bank of England resolve the banking crisis?
The US sub-prime loan crisis may push up mortgage rates in the UK, a former Bank of England adviser has warned.
Professor Willem Buiter, an ex-member of the bank Monetary Policy Committee, said UK banks were in crisis over their exposure to bad loans in the US.
He said this had made them reluctant to lend to each other, which had raised interbank lending rates.
He said the banks were in a state of "fear and loathing" that could increase standard mortgage rates as well.

Well well well! The BBC break out of denial and start reporting some real HPI news. Now the sheeple are going to be infected and sentiment will go from bad to worse in a matter of hours. Rush to the EAs tomorrow to get the overgeared house on the market and time to unooiad those BTL portfolios.........sorry too late now.

September is turning out to be a cracker! The resets all start happening this month too.

Think back to the Spring when very little was said about Great Crash 2 and how it was nothing to do with us? How the EAs were saying HPI was bouyant and that there were no signs of a downturn? What a sea chnage in a few months.

Edited by Realistbear

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