Sunday, Nov 22, 2009

Extend and pretend

Observer: Property market hasn't collapsed because banks can't face the truth

Lenders are still extending credit to commercial developers because they simply can't afford to crystallise their losses

Posted by mken @ 04:12 AM (1382 views)
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4 Comments

1. enuii said...

'The new slogan at the banks is "extend and pretend." In other words, they want to allow companies to keep going if humanly possible, so long as they are servicing their debt, while pretending that everything will be fine.'

Just swap companies for 'homeowners', it's so familiar it's getting boring!

Sunday, November 22, 2009 09:33AM Report Comment
 

2. Ndg said...

Roll-up, roll-up, hairy woman-man (with breasts) eats demon stenchy teticles on live tv. Rinse and repeat.

Sunday, November 22, 2009 09:55AM Report Comment
 

3. icarus said...

"Extend and pretend" aka delay and pray.

Banks have unrealised losses, Grant Bovey has unrealised profits. Any scope for a merger there?

Sunday, November 22, 2009 11:52AM Report Comment
 

4. will said...

But for how long?

Sunday, November 22, 2009 01:25PM Report Comment
 

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