Saturday, April 19, 2008
Darling’s dilemma?
Buiter Says U.K. Banks Need $200 Billion Aid From BoE
"Former Bank of England policy maker Willem Buiter said the central bank will need to offer loan swaps to financial institutions of at least 100 billion pounds ($200 billion) to kick-start the U.K. mortgage market".
Posted by alan @ 10:24 PM (698 views)
One thought on “Darling’s dilemma?”
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crash bandicoot says:
This shows us all exactly why there was a rate cut in 2005. That was to keep house prices going up before the election. So the one-trick ponies have tried the same again but this time it isn’t working. Sadly for them and us (for differing reasons) it won’t work this time. Regardless of the interest rate, we have lost the high LTV’s and the silly income multiples required for this bubble to continue. All that this will do is condem those who have overpaid on the back of historically low rates, to a long lingering death instead of a short sharp one.