Tuesday, February 22, 2011

When will they fine the stupid public for over extending themselves

Deutsche Bank unit fined over UK mortgage sales

A home loan unit of Deutsche Bank has been fined 840,000 pounds and forced to pay about 1.5 million pounds in compensation for irresponsible lending practices in Britain.

Posted by mark @ 12:51 PM (1370 views)
Please complete the required fields.



8 thoughts on “When will they fine the stupid public for over extending themselves

  • Whatever happened to mortgage application fraud. Smoke and mirrows, they are up to more tricks.

    Reply
    Please complete the required fields.



  • The public’s fine is the loss of equity they’re going to experience, as house prices fall. The penalty for complicity.

    Reply
    Please complete the required fields.



  • Thecountofnowhere says:

    I guess this sends out a clear message to banks. They will have to be strict on who they sell loans to now.

    This will have one effect…lower lending…less sales…lower house prices.

    Reply
    Please complete the required fields.



  • “Firms need to understand that we will not tolerate lax lending practices” Fine them eight hundred and forty grand. That’ll show ’em.

    According to the BIS over half of all (world) banking assets are routed offshore The IMF estimates that the balance sheets of small island financial centres alone (forget the City and Wall Street – the two largest offshore jurisdictions) sum to over $18 trillion. The Tax Justice Network says that 99 of the top 100 European corporations used offshore subsidiaries. In each country the largest user, by a long chalk, was a bank. In all cases the aims are secrecy, avoiding tax, regulation and laws of the jurisdictions where the real world lives.

    Reply
    Please complete the required fields.



  • Question : Given this level of deception/tax avoidance/etc., why cannot the UK government issue a new currency controlled by parliament and start from scratch – no national debt, no interest payments on said debt, and just tax businesses and personal incomes in order to run a sustainable economy?

    Reply
    Please complete the required fields.



  • “Firms need to understand that we will not tolerate lax lending practices”
    Well that’s super but who’s going to fine the FSA on the basis that they DID tolerate it for so long? The damage has been done. Talk about horses and stable doors!

    Reply
    Please complete the required fields.



  • 4. timmy t

    I have said before, the FSA were set up to fail. Is it now after what you have just said, starting to make more sense, it should do.

    It’s all engineered and the people who benefit everytime bear this out. No matter what the subject is. Even this Eastern Revolution is

    furthering an agenda. (Iran) will get sucked in and become destabilised. “Can you see what it is yet.”

    Reply
    Please complete the required fields.



  • Retrospective penalties for crimes against society. Accountability, Accountability, Acountability!!!

    There has been no real accountability. And this in turn leads to no deterrent. Expect fraud and avoidance measures from all large corporations.

    Loop-holes can be closed. But only by those who benefit least by it.

    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>