Light taper and stand well back.....

shamac

Instead of spending billions saving the banks the government should have paid off everyone's mortgage-now that would have helped the high street/the banks/the general mood of depression/the car industry etc etc and made me feel much better!:T

carolt

Or given all the money to FTB's to buy everyone's houses off 'em at current levels.

That would make me happier. :beer:

globalds

everyone's ..what about those nasty folk who have been committing mortgage fraud or who lied about their incomes to gain the mortgage in the first place ?

ad9898_3

shamac wrote: »

Instead of spending billions saving the banks the government should have paid off everyone's mortgage-now that would have helped the high street/the banks/the general mood of depression/the car industry etc etc and made me feel much better!:T

The government have lent out 185 billion, current mortgage debt is 1.1 trillion, so even though Brown would have loved to do it, he can't.

piggeh

How about all those job losses from the banks going under? People's lost savings? How would you buy your groceries when your debit card doesn't work? Seems like a bad idea to me, I much prefer seeing those that overcommitted with a 5x salary mortgage squirm

QTPie

piggeh wrote: »

How about all those job losses from the banks going under? People's lost savings? How would you buy your groceries when your debit card doesn't work? Seems like a bad idea to me, I much prefer seeing those that overcommitted with a 5x salary mortgage squirm

Agreed (well not the "making them squirm" bit...).

I don't think that absolving people's mortgage debts is a good way forward - how would it teach people to borrow responsibly?