Monday, October 13, 2008

No, we didn’t really mean a return to 2007 lending levels

Treasury clarifies mortgage plans

The Treasury has since said that the statement was indeed in reference to the availability of mortgages in general, rather than a specific return to the lending levels of last year.

Posted by jonb @ 04:48 PM (1062 views)
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8 thoughts on “No, we didn’t really mean a return to 2007 lending levels

  • My fear is that this will work.

    This was all started off because the credit crunch impacted mortgages and consumer spending. This, in turn impacted the construction industry and all those associated companies. It also impacted any areas that required credit to buy – like cars. Next came small companies possibly going to the wall through having no access to credit to get them through difficult periods and maybe not making payroll.

    The government has probably done enough to kick-start the flow of credit. The incredibly stupid and greedy British public will lap this up. I know people who have become first-time buyers within the last three months, despite my trying to educate them. Brown may have successfully continued to inflate the economy although the long term prognosis is dire. Hyper-inflation? Much higher taxes down the road? A complete financial collapse and systemic breakdown?

    Maybe you should thank Brown – he has probably given you a year or two longer to get your house in order – unless you are a binge-drinking, X-factor watching moron without a clue who will now continue to spend as if there was no tomorrow.

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  • mark wadsworth says:

    It’s not true until they deny it, not that it will make any difference.

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  • This country is totally reliant on Financials and Housing, is it any surprise that the man whi has helped to make it so is determined to keep his fake fuzzy feeling continue, to the detriment of future generations. How dare he say that it is the supply of affordable mortgages, not the supply of affordable housing that has caused the market to fall?

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  • Like I said this morning (with an air of arrogant confidence), this condition will be automagically deleted from the rescue package and forgotten. It’s simply not actionable.

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  • In the commons today the Chancellor Alistair Darling said that there had been a misunderstanding in relation to the Treasury plan. “We do want not a return to the irresponsible problems and difficulties we have had in the past,” he said.

    Right then – clear as f*cking mud. I hope this is a Times typo and he didn’t really say that!!

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  • President Abraham Lincoln said: “The money power preys upon the nation in
    times of peace & conspires against it in times of war. It is more despotic
    than monarchy, more insolent than autocracy, more selfish than bureaucracy.
    It denounces, as public enemies, all who even question its methods or throw
    light upon its crimes. I have two great enemies, the Southern Army in front
    of me & the financial institutions at the rear, the latter is my greatest
    foe.

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  • I’ll give you misunderstanding, I’ve just bought a f******g house on 95% interest only and put all my savings in Gold on the basis of this mornings post.

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  • Only joking. Phewww.

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