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

wymondham

tomstickland wrote: »

Jack Straw is now acting as Mr Smooth-it-all-over.
http://news.bbc.co.uk/1/hi/uk_politics/7590502.stm

The pilot/copilot analogy does not do it for me, just scares me more!! :eek:

ad44downey

The Tories might be getting a bit worried now. They're going to take over a totally bankrupt country thanks to Brown and his cronies.

Max_Headroom_3

tomstickland wrote: »

Jack Straw is now acting as Mr Smooth-it-all-over.
http://news.bbc.co.uk/1/hi/uk_politics/7590502.stm

Holy moly that is frightenenig logic!!! :eek:

Mr Straw likened Britain's current economic situation to an airliner passing through turbulence.

"The question for the country is who is better to take us through this turbulent period?" he said.
"Is it an experienced pilot and co-pilot in Gordon Brown and Alistair Darling, who have had the experience… or is it two people in David Cameron and George Osborne, who have had no experience of flying a large plane whatsoever?"

No, Britains current economic situation is like an airliner who's captain and crew have run at full throttle from takeoff promising to get us there faster and better than any other airline, only to find that they're running out of fuel and are only halfway across the Atlantic!

"The message from Gordon, from Alistair, from colleagues like myself, has been the same: we've had a very good period of economic management and economic success which has, for sure, provided us with a really serious platform to weather these storms."

We have not had "a very good period of economic management and economic success" we've borrowed and spent like never before.

It's like someone at the head of a household who's borrowed to the hilt for shiny new cars and holidays and expensive toys for the kids and is now staring bankrupcy and loss of the house in the face and saying "hey, I've done well so far, look at all the new stuff you've enjoyed for the last five years, clearly I'm the person to continue to sort this out".

Absolute madness!

MissMoneypenny

dean_ham wrote: »

You may have forgotten, but Brown was the Chancellor for all them years and he is to blame for most out our countrys current economic problems

I haven't forgotten that at all, but what a lot of people seem to have forgotten is that Tony was Gordon's master during all of that time. What Tony wanted, Tony made sure he got. Teflon Tony rides again it seems.

dopester

ad44downey wrote: »

The Tories might be getting a bit worried now. They're going to take over a totally bankrupt country thanks to Brown and his cronies.

Absolutely. Falling property prices increases the demands on the Treasury.

An inflationary "solution" should be blocked by the market.

The only option for the Government to pay its bills will be to pay them.

All Government spending will be cut drastically, or in some instances abolished, and people will be squeezed for more revenue.

Expect the Government to sell of or privatise whatever it can. Expect huge numbers of government employees to be sacked. Kiss goodbye to the NHS as you've known it. Watch the funding get cut to public schools.

MissMoneypenny

neverdespairgirl wrote: »

I honestly don't agree with this.

Let's not all join the foil hat brigade and panic!

If England were what England seems,
And not the England of our dreams,
But only putty, brass and paint,
'Ow quick we' d drop her....,
But she ain't.

Rudyard Kipling.


("But what should they know of England,
Who only England know?")

I agree with you NDG. The way the country is now, reminds me of how it was in the 70s with Labour We just needed to dust ourselves off and build up the country again. It's just a shame that we have to go all through this again. The Scottish Mafia (as they are called in the city) were never going to be good for the country.

Max_Headroom_3

dopester wrote: »

Kiss goodbye to the NHS as you've known it. Watch the funding get cut to public schools.

According to a couple of people I know reasonably high up in the NHS, it was well on its way down the tubes even when times were good! :sad:

Sapphire

I agree with most of what has been said here by the likes of !!!!!! and MH. Brown is scarey and I dread to think what the outcome of his tenure in office will be. The trouble is he is incredibly hungry for personal power and doesn't care about the good of the country at all - he is dictatorial. To even suggest making ordinary taxpapers bail out people who have foolishly over-borrowed is criminal. Should he not be listening to the Bank of England??? :mad:

Should he not be tackling things like rises in gas and electricity prices (for example), which are going to have a massive effect on 'ordinary' taxpayers, instead of meddling with a problem that should be allowed to run its course?

The man is insane and will ruin the country.

dean_ham

Thing is we can all say we are doom, we are this we are that. Fact is i can see labour staying in power.

Even if the tory's get in... what can they do? is there anyway back to make this country great again.

What would be your ideas to get this country back on track?

Dithering_Dad

Max_Headroom wrote: »

Fair comment (and thanks for your kind words). I see where you're coming from, but I just don't see that "bailing out" overindebted people is the way to do it.

One thought is, we have a situation whereby big developers cannot sell new built houses and councils are short of council houses (and likely to need a lot more). Maybe there is the bones of an idea there. Although you're still potentially "rewarding" the financially imprudent with a spanking new house on a new estate (and any private buyers on that estate who've struggled to get there through their own endevours are going to be mighty put out!)

I suppose in short I simply don't know what the best answer is. But I do feel strongly that the government getting into what I can only see as basically sub prime mortgage lending thus removing financial responsibility from both banks and imprudent borrowers at a stroke (and at the direct cost of the prudent) is absolutely not the answer.

No probs, it's nice to cross swords with someone who uses the weight of his argument to try to win a debate rather than using the !!!!!! tactic of dragging in all sorts of old rubbish from ancient threads to try to confuse the issue. You find that this is a tactic often used by overwrought and over-emotional people. :rolleyes:.

I agree that there should not be a general safety net for all - especially for BTLers who have had a portfolio of properties crash from under them. My comments are merely aimed at decent families who have seen taxes, fuel, gas, electricity, food, interest rates all increase by a large amount and within a very short space of time and who are struggling to make ends meet and just need a bit of breathing space.

I guess as a society we either embrace the thought of supporting weaker people, or we turn to a completely capitalistic society and let them fall by the wayside. If we do turn our backs, don't be surprised if crime rates soar and ghettos are created.

I'm happier for my tax money to be used to give temporary support to hard working families than for it to be used to wage unjust wars in the middle east, to prop up foreign dictators or to pad out the pension and expense accounts of MP's who caused much of the problems in the first place.