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Reuters: C M L Are Issuing Do Not Panic Statements

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http://uk.reuters.com/article/businessNews...14?rpc=401&

Mortgage borrowers told not to panic

Fri Sep 14, 2007 11:46am BST

By Jennifer "Jenny" Hill, Personal Finance Correspondent

LONDON (Reuters) - Mortgage borrowers have little to fear, despite Northern Rock's need for an emergency loan from the Bank of England, industry experts said, though they believe liquidity problems could slow the property market.
Borrowers and savers with Northern Rock -- the country's eighth-largest listed bank -- can have confidence that the move does not reflect any underlying business problems, the Council of Mortgage Lenders (CML) said.

Things must be very serious indeed. Its amazing not a word about Paragon other than the voting with feet as their shares dive harder than NR. With London just reporting the biggest drop in 3 years (RM) there must surely be a massive rush for the exits going on as we type?

Poor old Darling has been on and he is so pathetic. We are going to stabilise the marklets..................

"We???" You don't stabilise the markets with political bluster--you apologise to the people for causing the crash and tender your resignation promptly.

You have to hand it to TB--the master of many things and especially timing. He was on earlier and it looked as though he had been crying and the journa asked if he was upset. A loud voice in the background said--"upset--Tony has been laughing so hard he ended up crying."*

________________

* Not really--but you can imagine it can't you.

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http://uk.reuters.com/article/businessNews...14?rpc=401&

Mortgage borrowers told not to panic

Fri Sep 14, 2007 11:46am BST

By Jennifer "Jenny" Hill, Personal Finance Correspondent

LONDON (Reuters) - Mortgage borrowers have little to fear, despite Northern Rock's need for an emergency loan from the Bank of England, industry experts said, though they believe liquidity problems could slow the property market.
Borrowers and savers with Northern Rock -- the country's eighth-largest listed bank -- can have confidence that the move does not reflect any underlying business problems, the Council of Mortgage Lenders (CML) said.

Things must be very serious indeed. Its amazing not a word about Paragon other than the voting with feet as their shares dive harder than NR. With London just reporting the biggest drop in 3 years (RM) there must surely be a massive rush for the exits going on as we type?

Poor old Darling has been on and he is so pathetic. We are going to stabilise the marklets..................

"We???" You don't stabilise the markets with political bluster--you apologise to the people for causing the crash and tender your resignation promptly.

You have to hand it to TB--the master of many things and especially timing. He was on earlier and it looked as though he had been crying and the journa asked if he was upset. A loud voice in the background said--"upset--Tony has been laughing so hard he ended up crying."*

________________

* Not really--but you can imagine it can't you.

I think he has probably rung him and said:

Na na na na na! :lol:

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Why would mortgage borrowers panic? They already have their mortgage secured. If the bank goes bust somebody else takes on the loan.

Why are they trying to calm mortgage borrowers. Borrowers can't cause a run on the bank only savers can?

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Why would mortgage borrowers panic? They already have their mortgage secured. If the bank goes bust somebody else takes on the loan.

Why are they trying to calm mortgage borrowers. Borrowers can't cause a run on the bank only savers can?

Cue: Soundtrack to Jaws

Enter stage right: Mortgage Reset

Cue: Sheeple

Sound: Arrrrgh glug glug glug glug

The hopes and dreams of millions will go down the toilet as the miracle crumbles and house prices realign themselves to incomes. A opainful but very necessary process.

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Why would mortgage borrowers panic? They already have their mortgage secured. If the bank goes bust somebody else takes on the loan.

Why are they trying to calm mortgage borrowers. Borrowers can't cause a run on the bank only savers can?

But if you were about to buy a property and had been on your way to see Northern Rock to take out a mortgage today, what effect would all this have on your plans....

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