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We now enter the 'grey dismal' years says Robert Peston
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moanymoany wrote: »It all makes for troubled reading.
So does this other post on his blog:
http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/09/will_uk_rescue_banks_too.html
To me, that says prepare for a UK bailout too. It's what the bankers have been angling for - dump their debts on the taxpayer and start with a clean sheet.For us here in the UK the big question is whether what Paulson's proposing makes it more or less likely that our Government will have to launch a similar rescue scheme for our banks. As of this moment, the thinking in Government is that Paulson's bail out should improve confidence throughout the global banking system, and thus reduce the likelihood that British taxpayers' money will have to be deployed on buying out stinky assets from British banks, or guaranteeing mortgage-backed bonds issued by them, or the other ways in which our banking system could be partly nationalised.
But ministers are taking nothing for granted. The Treasury is working on a contingency bail-out plan, just in case.
All we need is a suitable scare (like Lehman in the States) .... Hmmmm, now what bowler-hatted UK potential institutional failure could provide such a bogeyman to scare the British public witless?--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
I think the news works best when it reports what has happened in detail, not predicting what will
However I thank the man for bringing me some good newsBanks eligible to sell to this Treasury-owned bank would be banks with significant operations in the US - so, for example, Royal Bank of Scotland (which has a big retail business in the US) and Barclays would be able to dump their toxic mortgage-related investments on the Treasury, but HBOS and Lloyds TSB (which have less of the nasty stuff, in any case) probably wouldn't be able to do so.
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I should keep away from the DFW board. A person who owes £39,000 - not mortgage - has spent £500 on take aways, spent masses on their credit card and is now talking about hiring somewhere for a birthday party for a 6 year old.
What is going to happen to these people. They are going to hit the ground with one hell of a bang. The problem is no-one seems able to say anything but 'you're doing great hun' and it drives me mad with frustration. They are not doing great, they are behaving in the way that got them into the messes they are in, but with a little tweak here and there! :eek:0 -
moanymoany wrote: »I should keep away from the DFW board. A person who owes £39,000 - not mortgage - has spent £500 on take aways, spent masses on their credit card and is now talking about hiring somewhere for a birthday party for a 6 year old.
What is going to happen to these people. They are going to hit the ground with one hell of a bang. The problem is no-one seems able to say anything but 'you're doing great hun' and it drives me mad with frustration. They are not doing great, they are behaving in the way that got them into the messes they are in, but with a little tweak here and there! :eek:
Yeah it's the daytime TV board. I went on there thinking I could give some positive advice but I ended up posting stuff along the lines of, 'You're an idiot and you should spend less money, that way you wouldn't be up Poo Creek'.
You can't help people that won't help themselves.0 -
moanymoany wrote: »I should keep away from the DFW board. A person who owes £39,000 - not mortgage - has spent £500 on take aways, spent masses on their credit card and is now talking about hiring somewhere for a birthday party for a 6 year old.
What is going to happen to these people. They are going to hit the ground with one hell of a bang. The problem is no-one seems able to say anything but 'you're doing great hun' and it drives me mad with frustration. They are not doing great, they are behaving in the way that got them into the messes they are in, but with a little tweak here and there! :eek:
True. I think there is a thread here about how the banks can use a relatively new law to 'secure' an unsecured loan over £1000 through the courts in the case of a default (although there are several pre-conditions). They could conceivably force a house sale though off the back of, say, credit card debt, which would be incredibly bad news for a lot of people.
Personally, the wife and I run a tight ship financially - no credit card or loan debt, but the mortgage is pretty big and that is my concern at the moment.0 -
> A person who owes £39,000 - not mortgage - has spent £500 on take aways<
Take the one-year bankruptcy option helpfully set-up by Clown. Start all over again. Innit.0 -
Yeah it's the daytime TV board. I went on there thinking I could give some positive advice but I ended up posting stuff along the lines of, 'You're an idiot and you should spend less money, that way you wouldn't be up Poo Creek'.
You can't help people that won't help themselves.
This is why I stay away from the DFW board, I want to start every reply with
'You must be mad'...
Went to relatives today who are feeling the pinch...'circumstances'... asked a few pertinent questions......£100 PER MONTH on landline phone, just 'normal' use...thinking of putting house on market....
They look at you blank when you say stop using the phone so much, change your providers, cut back, houses aren't selling, it's like you've suddenly started speaking a foreign language....when are people going to wake up.
A xDon't believe everything you think.
Blessed are the cracked...for they are the ones who let in the light. A x0 -
"my food bills have crept up to about 500.00 pm again along with
takeaways,"
This was what was posted £500 not just on takeaways. Please stay away or at least get your facts right. If the debt is decreasing then yes she is "doin fine hun" as you put it.:jMay 2013 new beginnings:j0 -
Keeping_Positive wrote: »"my food bills have crept up to about 500.00 pm again along with
takeaways,"
Spend less...it's not rocket science...oops...that's why I keep away. A xDon't believe everything you think.
Blessed are the cracked...for they are the ones who let in the light. A x0 -
Duh we know that. That wasnt the point.:jMay 2013 new beginnings:j0
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