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Great thought provoking Video
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brit1234
Posts: 5,385 Forumite
We must stop the Housing (Bank) Bailout Bill before it's too late!
This is great video on housing and banks in the current troubles. Its a US video but everything point relates to the UK as the systems are almost identical. Watch this and then think Northern Rock, Buy to Let, Self Cert and the rest of our property market.
http://www.fedupusa.org/
:eek::eek::eek::eek::eek::eek::eek::eek:
:eek::eek::eek::eek::eek::eek::eek::eek:
Are you willing to Bailout Bradford & Bingley and the others for their irresponsible behaviour?
Are you willing to have tax payers money bail out a buy to let investor with 30 properties?
Are You willing to bail out those who lied about their earnings to get a mortgage?
Are you willing to have tax payers money bail out a buy to let investor with 30 properties?
Are You willing to bail out those who lied about their earnings to get a mortgage?
:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:
:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
Save our Savers
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Comments
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Can't access at work, will do so at home tonight.
One question though brit. What is the effect of governments not stepping in? Are they stepping in as a lesser of two evils.
Not considered / researched yet myself, but open to opinions
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Can't access at work, will do so at home tonight.
One question though brit. What is the effect of governments not stepping in? Are they stepping in as a lesser of two evils.
Not considered / researched yet myself, but open to opinions
Stepping in is worse. It extends the problem and makes it bigger allowing more people to get hurt. For example in August 2005 prices were starting to fall so the Bank of England strangely cut rates giving investors the encouragement that if ever prices would fall rates would be cut. So the inflated market of 2005 became a false peak and the the housing bubble got even bigger. The end result is going to be a far bigger downturn with more people getting hurt.
Lots of little mini downturns are good for clearing bad practice from the economy and strengthening it. If this is prevented from happening ultimately more people will get hurt.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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I didn't mean as a way of re-inflating the market, but for stepping in to prevent financial institutions going bust.
Whats the impact if they do go bust?
P.S. still need to go home to see the video :wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Whats the impact if they do go bust?
Probably extreme difficulty in lending which is likely to be tighter than actually needed. However it will make a stronger economy in the long run from a Darwinist prospective.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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If its as simple as this, then why dont they let it happen.brit1234 wrote:Probably extreme difficulty in lending which is likely to be tighter than actually needed. However it will make a stronger economy in the long run from a Darwinist prospective.
Unless there is something else we are not considering.
Seems like the US have sanctioned the housing rescue bill
http://news.bbc.co.uk/1/hi/business/7522160.stm:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
The Government should have stepped in earlier, about 2003 I reckon. They should have stamped out lie to buy, second home, buy to let, excess credit, etc. in order to stop the speculators from pricing the first time buyer, and most normal buyers out of the market.
You want them to step in now to do what exactly? Save this artifical pyramid of massive debt and over borrowing? Keep FTB's etc out of the market for ever?
We had excessive market forces on the way up, now some of us can look forward to an equally extreme reaction on the way down.
Here we go kids... hang on tight!0 -
The Government should have stepped in earlier, about 2003 I reckon. They should have stamped out lie to buy, second home, buy to let, excess credit, etc. in order to stop the speculators from pricing the first time buyer, and most normal buyers out of the market.
You want them to step in now to do what exactly? Save this artifical pyramid of massive debt and over borrowing? Keep FTB's etc out of the market for ever?
We had excessive market forces on the way up, now some of us can look forward to an equally extreme reaction on the way down.
Here we go kids... hang on tight!
Been hanging on for 10 months now....0 -
OK Mr. B I am going to give you one sensible post... then it's back to my normal.
I seriously and honestly hope that all goes well for you. I bear you no ill will, and do not want to see you, or anyone suffer.
However, my chosen path is to amuse myself by posting increasingly ridiculous posts, a mixture of surreal, agressive and funny until no one takes any more notice, and then I shall disappear.0 -
OK Mr. B I am going to give you one sensible post... then it's back to my normal.
I seriously and honestly hope that all goes well for you. I bear you no ill will, and do not want to see you, or anyone suffer.
However, my chosen path is to amuse myself by posting increasingly ridiculous posts, a mixture of surreal, agressive and funny until no one takes any more notice, and then I shall disappear.
It is ok i was just testing you...
Welcome back Dolce...I've missed you my friend...;)0 -
"We have 2181 confirmed signatures on the petition at the present time" (out of 300 million people in the US)All my life my mother told me the storm was coming (c) Terminator 30
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