Friday, October 29, 2010

Here we go again

The return of sub-prime

Even a dog is clever enough to learn, why aren't banks?

Posted by chrisch @ 03:47 PM (1765 views)
Please complete the required fields.



8 thoughts on “Here we go again

  • sibley's b'stard child says:

    Words fail me; I had to check the date of the article as I though it must have been from 2008. Feckn’ hell, shouldn’t the FSA be taking their thumbs out and working to their supposed remit?

    “These customers can be highly profitable for lenders as interest charged on the mortgages is significantly higher than standard rates. A spokesman for Kensington said it did not like the phrase sub-prime borrowers: “We say ‘overlooked by the high street’.”

    This one, in particular, made me want to kick my PC:

    “Kensington says it will accept borrowers who have already had two county court judgments in the last two years and up to two defaults on unsecured loans”.

    Gah!

    Reply
    Please complete the required fields.



  • “Kensington says it will accept borrowers who have already had two county court judgments in the last two years and up to two defaults on unsecured loans”.

    If there is any sort of recovery, the same thing will probably happen all over again…until it is stopped from happening.

    Reply
    Please complete the required fields.



  • sibley’s b’stard child said…”shouldn’t the FSA be taking their thumbs out and working to their supposed remit?” – the FSA is to be replaced (see for example http://www.ifaonline.co.uk/ifaonline/news/1721152/fsa-break-result-horrible-turf-wars) and as a consequence has had an exodus of staff in recent months. They were caught several times sleeping on the job (N Rock for example) and in view of the previous information provided I cant see any likely improvement.

    Reply
    Please complete the required fields.



  • Words fail me and that doesn’t happen very often.

    Reply
    Please complete the required fields.



  • They haven’t got all the money yet and when they do, people will start losing their homes big time.

    It will have to come to that before people start to wake up.

    Then hopefully they will get their second wake up call and realise their true nature.

    That’s what the ‘few’ big fish with lower consciousness fear most.

    All out strike and a tearful celebration of oneness of being. The division game grinds to a stop.

    You all know in your young pre-school hearts that Le Crunch speaks truth.

    Reply
    Please complete the required fields.



  • But the banks have learnt – they have learnt that they will get bailed out by the tax payer no matter how much they screw up, the directors have learnt that they won’t be personally liable or prosecuted and can keep their benefits and pensions, they can carry on paying out obscene bonuses. Perfectly logical.

    Reply
    Please complete the required fields.



  • You dont invent the wheel and then resort again to dragging things around. The banks know how much money they can make in bonuses etc from sub prime and if it all goes pear shaped again the tax payer will bail them out.

    Its about time politicians stopped acting like Gimps and sort these W/Bankers out.

    Reply
    Please complete the required fields.



  • Didn’t someone once say something about people selling ropes that would end up around their own necks?

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>