Sunday, February 3, 2008

Is this a spoof story from BBC?

How to rescue the UK mortgage market : 3rd Feb 2008

Treasury advisor David Miles, reckons that BoE needs to chip in another 60Bn or so to keep the housing market moving (the desired direction being upwards I assume from the tone of the article). It sounds far-fetched and unbelievable, but it's on the BBC business pages so I guess it must be true. Hope someone else can read this and convince me it's a practical joke.....please.

Posted by ingermany @ 07:18 PM (646 views)
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4 thoughts on “Is this a spoof story from BBC?

  • They have changed the title of this in the last few hours from “DO UK BANKS NEED 100BN TO AVOID MORTGAGE FREEZE UP”

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  • Perhaps they’ll be even more truthful and change it again to:

    “How to rescue BBC staffs’ buy to let portfolios and keep Gordon’s never-never economy going”

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  • it_is_going_with_a_bang says:

    “The result could be that UK mortgage lenders would have to either pay very high interest rates to borrow money from other wholesale investors, or pay higher interest rates to retail savers to attract more deposits.”

    Yes that would indeed be a free market at work.

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  • planning4acrash says:

    Euro here we come.

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