Friday, October 16, 2009

Regulation is needed…..

What credit crunch? Bankers saved by OUR money last year gorge on bonuses ... and high-risk mortgages are back

'Bankers have already forgotten the lessons of the credit crunch, it was claimed last night. They were accused of recklessly returning to the practices that tipped the world economy towards meltdown only a year ago. Executives are queuing up to collect multi-million pound bonuses and lenders have launched a hard sell on 95 per cent mortgages, triggering a price war on the high street'

Posted by hpwatcher @ 06:56 AM (1276 views)
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7 thoughts on “Regulation is needed…..

  • “Regulation is needed…..”

    You can’t regulate the regulators.

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  • mark wadsworth says:

    More Home-Owner-Ist hypocrisy.

    “We want house prices to be propped up at any cost. But we don’t want reckless lending, higher taxes or bankers’ bonuses.”

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  • cat and canary says:

    @ Mark…. so so true, in the Telegraph article (see link below) “polling data shows that 48pc of the public are against any spending cuts and only 20pc see the need for retrenchment”…..

    ..the public have been watching too much of the Brown Brainwashing Corporation!

    (http://www.telegraph.co.uk/finance/economics/6339642/Ex-FSA-chief-Sir-Howard-Davies-sees-dramatic-risks-for-Britain.html)

    There’s goings to be a plethora of voices moaning and complaining when the inevitable cuts come.

    As for regulation, well no doubt we will here the voices of politicians today/tomorrow condeming the behaviour of the banks. But without action. Because they don’t want to act. They’ve already taught the school bullies that they can get away with it.

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  • fallingbuzzard says:

    I believe Nationwide is in trouble as it loses both savings where its positioned itself as safe and secure. Meanwhile it became less than competitive on savings rate and its mortgage market share has gone down. Inevitable, as they stated themselves earlier in the year but I think they have not helped themselves. I think they’re about to get a slug of government money which is why they are promoting the 95% FTB.

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  • 5. fallingbuzzard said…”I think they’re about to get a slug of government money which is why they are promoting the 95% FTB.”

    With interest rates about to rise in the near future this offer may as well be 100% FTB or more.

    It is starting to sound to me like the infamous together mortgage that Northern Rock were stupid enough to dish out.

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  • New Daily Express Headline “Bonus Surge” Atlast relieve for hard hit city traders as Bonuses return thanks to the fast action of the Bank of England. This comes as great news for City Traders who have been strugling to make ends meet with no Bonuses last year.

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  • fallingbuzzard says:

    They took on the Rock 125% mortgagees that wanted to switch already. My guess is that the latest slug is to try and get a load of shared ownership sold through the winter, something which has reared its ugly head in recent months within the Nationwide literature and spin. The timing is highly political.

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