What is worse than a 3x cap on borrowing? The FSA of course

stevetodd

If you read the Turner report (it's on the FSA website) you will see that IF they bring in a multiplier regulation it is likely to be varied throughout the economic cycle, ie tightened when approaching boom times. So it wouldn't be as stringent as some think during recession times

chewmylegoff

Really2 wrote: »

To me regulate means adjust to run evenly.
They have showed pre-bust and post-bust they are fairly inept at both if they leak ideas like 3x salary.

did they actually leak 3x salary, or did they actually say that the general concept of a loan to income cap was something they would be looking at in principle, as one option, amongst a raft of other options and not mention a specific multiple at all.

did some newspapers then start talking about a 3x salary cap, because that was how it used to be back in the good old days of responsible banking.

Kenny4315

ad9898 wrote: »

Now that's the kind of talk we need , although I don't think Darling is a bad bloke, Clown on the other hand, well he should rail gunned.*



* For the uninitiated, a Rail Gun fires depleted uranium shells and is most commonly found in computer games like Quake.:D

Good choice .... maybe get the gravity gun from Half Life 2 and bung them around a bit for good measure. Or for those who dislike the use of violent weapons an Electro Bolt Plasmid from Bioshock is a treat, followed by a couple a accidental whacks from the wrench.

econo_2

ad9898 wrote: »

Who in their right mind would buy now anyway ??, and I say that as a person who has a close relative that picks the keys up for a house on Friday that they think they had a good deal on, wait for it..... 6% off 2007 peak. I guess some people don't read the papers/watch the news/read websites like this one.

I did try to tell him but I was banging my head against a brick wall, oh well you live and learn I guess.

Maybe some people just want to get on with living their lives and feel prices are maybe not at rock bottom but are still at a more realistic level they can afford?

This sentiment has been expressed to me a fair few times in the last month and some people really just want to move. They are not all just wishing to sit on the sidelines feeling downright depressed about everything and powerless to change 99% of it anyway!

Learning to live is sometimes as important as looking back and saying 'wow I really picked that one right I got it another 5% lower than the guy down the road a year later'....................................

lynzpower

stevetodd wrote: »

If you read the Turner report (it's on the FSA website) you will see that IF they bring in a multiplier regulation it is likely to be varied throughout the economic cycle, ie tightened when approaching boom times. So it wouldn't be as stringent as some think during recession times

the real difficulty i have with this is that - how would anyone actually recognise what a boom is?

I mean weve had the same chancellor for donkeys, hes now our prime minister- if HE cant recognise what a boom is - "no more boom & bust" then what would it matter if the likes of you & me can see the massive bnubble inflating- he just sticks his fingers in his ears and its " la la la im not listening"

Graham_Devon

lynzpower wrote: »

the real difficulty i have with this is that - how would anyone actually recognise what a boom is?

I mean weve had the same chancellor for donkeys, hes now our prime minister- if HE cant recognise what a boom is - "no more boom & bust" then what would it matter if the likes of you & me can see the massive bnubble inflating- he just sticks his fingers in his ears and its " la la la im not listening"

I think he could see the boom. He's an intelligent man.

But I also think he wanted it to last, so long as he was in power, and then for it to pop when another government were in power.

Really2

chewmylegoff wrote: »

did some newspapers then start talking about a 3x salary cap, because that was how it used to be back in the good old days of responsible banking.

Come off it you know how clever journalists are in this country.
They could not think of such ideas, they are to busy worrying about which celeb got drunk to think about stuff like this.:D

lynzpower

Well, i am waiting to be convinced of that TBH.

The thing is he thought- ior at least said that he thought that this isnt a boom,as this was us growing in a stable fashion. Therefore under these suggestions one would say " this isnt a boom, its a stable growth situation" Hence no restrictions on lending could be brought in.

This government cannot be trusted to see whats in front of thier faces.

I am very much for the restrictiojn of lending to 3x ( adn I dont want to see any issue of couples, this automatically presumes couples are a) strtaight b) likely to have children c) likely to stop earning while children are raised- these approaches are too dated, but I do think 3x in sensible, it worked before.

chewmylegoff

Kenny4315 wrote: »

Good choice .... maybe get the gravity gun from Half Life 2 and bung them around a bit for good measure. Or for those who dislike the use of violent weapons an Electro Bolt Plasmid from Bioshock is a treat, followed by a couple a accidental whacks from the wrench.

i for one would tear him to shreds with a deathclaw gauntlet.

Kenny4315

chewmylegoff wrote: »

i for one would tear him to shreds with a deathclaw gauntlet.

Which game is that one from ?? Kind of rings a bell but can't put my finger on it ?