wow! It's too quiet in here today!!!

baby_boomer

Of course it's only the privileged few at the top of an investment bank like Lehmans who know enough of what's going on to put all the pieces of the jigsaw together. Otherwise the media might have got wind of the extent of the scam.

And, of course, these are the same types who escape with the biggest payoffs .

experience08

fatpig wrote: »

dithering dad fainted earlier on hearing the news.

More like "Blithering Dad farted earlier on hearing the news", considering all the HOT air he has built-up in this forum in the last few weeks :rotfl:

wymondham

PasturesNew wrote: »

My friend in the states announced 2 hours ago that he has just had full confirmation that he will be allowed to borrow 100% mortgage on his first house at 5x his salary (even though he only started earning that since last month after he got a 50% payrise). He's not got a clean credit history either. His rate quoted is 7.125%

So, over the pond, they're still all at it!

Could this be as a result of George Bush's intervention last week? ... prolong the madness?

ad9898_3

PasturesNew wrote: »

My friend in the states announced 2 hours ago that he has just had full confirmation that he will be allowed to borrow 100% mortgage on his first house at 5x his salary (even though he only started earning that since last month after he got a 50% payrise). He's not got a clean credit history either. His rate quoted is 7.125%

So, over the pond, they're still all at it!

And being over in the states, when he defaults he can just walk away:rolleyes:,what is it with the banks over their, even a small child when it burns its hand wont put its hand straight back in the fire, Jeez

StevieJ

mewbie wrote: »

I hear what you are saying, and agree that it is worrying.

BUT.

Having put up with the nonsense of the bulls, in here and more importantly everywhere else - and having seen million pound bonuses paid to stupid kids who have gambled recklessly with all our futures, and blown it big time - well I am for once prepared to put my charitable side on hold and laugh - a big happy belly laugh - as those who arguably have it coming - get some.

Be careful what you wish for, it may come true.

mewbie_2

StevieJ wrote: »

Be careful what you wish for, it may come true.

And do you know what my wish was? For the last five years and longer? I wished for economic stability and sensible house prices. That's all. Ordinarily I have sympathy for anyone who suffers, but when I can see what's heading my direction as a result of other people's greed and stupidity, it makes me slightly less agreeable.

What's my current wish? Same as ever. A job to go to, a chance to build a future for my kids, nothing more. I don't actually give a monkey's about who gets what, etc. I do care when other people's careless and stupid and greedy actions risk everything I am working for.

drbeat

StevieJ wrote: »

Be careful what you wish for, it may come true.

Yep very true! Hotshot @rsehole that I sort of know went from common criminal - drug fuelled theft plus enjoyed beating women up - to partner at an Estate Agents in a huge city during 2005. At first he was cruising around in a new BMW 330. This year he took on a new BMW M3, 4 weeks later he along with 14 other staff was told to buzz off from the Estate Agents and the majority shareholding partner has now turned it into Lettings Agent! Because his skills were so in demand he then joined another agent; only for that to go bust within 2 weeks! He went from 'Astute Businessman' back to 'total t0sser' in a matter of 3 years. I'll have to post some of his articles that he contributed to the local rag - in Jan he predicted, he bragged that he knew someone on the MPC:rolleyes: , that rates would be at 4% by this month! hahahahhahahahaha

He's now on some sort of state benefits - doesn't qualify for dole so I'm told cos he fiddled the NI contributions - and cruises around in a H reg Ford Sierra 1.8LX.

Oh how the mighty fall! But yeah, my wish came true! :rotfl:

Pobby

I am also angry in the extreme. I have said many times that I couldn`t give a flying

---

how low the price of my house goes but I do care a lot about what goes on with our pensions and investments which I have struggled to put into the lowest risk funds I could find.

All this greed has resulted in this criminal mess. I expect that our wonderful government will respond with some carp tomorrow. I find it incredulous that they have allowed this state of affairs, oh perhaps I don`t!

WTF?_2

PasturesNew wrote: »

My friend in the states announced 2 hours ago that he has just had full confirmation that he will be allowed to borrow 100% mortgage on his first house at 5x his salary (even though he only started earning that since last month after he got a 50% payrise). He's not got a clean credit history either. His rate quoted is 7.125%

So, over the pond, they're still all at it!

That's about a 5% premium over US base rates - a bit like a rate of 10% here.

Still pretty ridiculous that they'd lend that much.

Walletwatch

Pobby wrote: »

I expect that our wonderful government will respond with some carp tomorrow. I find it incredulous that they have allowed this state of affairs, oh perhaps I don`t!

I can almost see Brown and Darling commenting something on the lines "... the scale of this carnage is of unprecedented proportions... however the UK economy remains more resilient than ever to withstand this crisis..."