Government plans 40bn sub-prime bailout - Mortgages to be nationalised?

dean_ham

But why should the tax payer finance someone who had made very poor financial decisions and the sence of "ahhh it will be ok in the end"

Well im sorry im not paying for someone who couldnt afford that new 3bed house on their low salary and lavish spending on credit cards.

There is no sence of reward for hard work in this country anymore -

Dan:_4

dean_ham wrote: »

But why should the tax payer finance someone who had made very poor financial decisions and the sence of "ahhh it will be ok in the end"

Well im sorry im not paying for someone who couldnt afford that new 3bed house on their low salary and lavish spending on credit cards.

There is no sence of reward for hard work in this country anymore -

You can't choose how your tax is spent.

WTF?_2

Dithering_Dad wrote: »

Hardly the same thing, these are hardworking families who wanted stability for themselves and heir kids that is provided by having your own home. They didn't cause the credit crunch, they were just impacted heavily by it.

Again, I have to ask, what would you rather do, turn your back on these people and have them homeless and living in B&B's?

"Hardworking families", really? :rotfl:

I guess you'll have to "Tick one of the following boxes":

( ) Hardworking salt of the earth citizen just trying to scrape a living.
( ) Ostentatious chav who bought their bling with borrowed money.
( ) Chancer who borrowed far too much to ever realistically repay.
( ) Clueless idiot who should never have been allowed to borrow until they understood the concept of repaying and interest rates.


As long as you tick the first box, the taxpayer will bail you out.

Yep, seems fair enough to me. Wouldn't want to begrudge those "Hardworking families" the helping hand they need to get out of the unforseen and totally blame-free position they find themselves in :rotfl:

Tell you what - you've said that you are working hard to pay off your own mortgage so why not just take all that money you're pumping into overpayments and give it to charity to help the homeless? Not going to happen? Thought not :rolleyes:

wymondham

dean_ham wrote: »

But why should the tax payer finance someone who had made very poor financial decisions and the sence of "ahhh it will be ok in the end"

Ah, but how do you decide who made a bad financial decision/irresponsible, who was dealt a bad set of cards?

Unfortunately it's not easy to distinguish between those people who can't pay and those that won't. Whenever the Government have tried to do this it has failed big time!

pizzagirl

you can by electing a different government

WTF?_2

Dan: wrote: »

You can't choose how your tax is spent.

Luckily, you do have a choice of idiot politicians who get into the position to spend your tax.

Dithering_Dad

!!!!!!? wrote: »

"Hardworking families", really? :rotfl:

I guess you'll have to "Tick one of the following boxes":

( ) Hardworking salt of the earth citizen just trying to scrape a living.
( ) Ostentatious chav who bought their bling with borrowed money.
( ) Chancer who borrowed far too much to ever realistically repay.
( ) Clueless idiot who should never have been allowed to borrow until they understood the concept of repaying and interest rates.


As long as you tick the first box, the taxpayer will bail you out.

Yep, seems fair enough to me. Wouldn't want to begrudge those "Hardworking families" the helping hand they need to get out of the unforseen and totally blame-free position they find themselves in :rotfl:

Tell you what - you've said that you are working hard to pay off your own mortgage so why not just take all that money you're pumping into overpayments and give it to charity to help the homeless? Not going to happen? Thought not :rolleyes:

--- Post deleted, I mean, what's the point. You might as well debate racism with a BNP member. Waste of time. Might as well talk to the fireplace ---

mewbie_2

You fools, it's a Daily Mash story that's ended up in the wrong site. The whole piece is a hilarious satire...

Some quotes I particularly like...

Mr Darling said that voters were ‘p****d off’ with the Government.
equivalent of the Government ‘doing another Northern Rock’.
A Treasury insider said: ‘This plan is financial insanity... You wouldn’t run a bookies the way these people are trying to run the country.
worst they’ve been in 60 years
nervously repeated a statement drafted for him by No10
It’s like a “who smiles first” contest.’
Hitler’s bunker, with Gordon hunkering down, surrounded by his mates
Mr Darling faltered. ‘Er, well, well, it’s always difficult'
Wendy Alexander - 'not likable’

Fabulous stuff. Prefer the big rat story, but this is class.

WTF?_2

Dithering_Dad wrote: »

--- Post deleted, I mean, what's the point. You might as well debate racism with a BNP member. Waste of time. Might as well talk to the fireplace ---

Hopefully the start of a new trend for DD. Deleting his baiting posts before posting them instead of 'cleaning them up' after he's started a flame war as is his usual practice. :rotfl:

Now - all you need to do is not tell us about the fact that you didn't post and it'll all be good

Max_Headroom_3

Dithering_Dad wrote: »

What are the alternatives, have thousands of families go bankrupt, write off all the cash and have to house them at great expense in B&B's because there is a lack of council housing ?

Better to subsidise these people that to pay for them outright, surely?

If a family goes bankrupt because they've borrowed too much and cannot keep up the payments and is evicted from their house, that house does not then suddenly disappear, it still exists. It will be sold somehow at market value, whatever that is.

Now that market value may have to be very low. If so chances are it will be bought by someone who will rent it out perhaps (maybe at a lower rental income as he won't need so much to cover the mortgage), or by someone (another family maybe) who will be able to afford the mortgage now it is much lower. Either way it will be back in circulation as a home, and at a much more realistic and affordable rate. So no need for all this B&B housing you suggest.

The fact is that you simply cannot have a system whereby people who cannot pay their financial borrowings are bailed out en mass by the government. The reason we pay back our loans is because if we don't we lose the things we've borrowed for. A system whereby the financially impudent get bailed out by the prudent is unthinkable. Financial suicide for the foundation of the countries finances.

Remember, this whole mess (ridiculous house price increase to the point where property simply went out of reach of famlies needing it) was caused by imprudent lending by the banks, and imprudent borrowing by the public. This is now self correcting and however hard that is, it needs to happen so things can get back to normal and ordinary people can once again afford that basic need, housing.

This scheme is no more than the government becomeing a sub prime lender. One of the very cornerstones of the financial disaster or silly house prices over the last 5-10 years that got us into this big mess.