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My budget wish - less FSA regulation
Comments
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It was "creative" accounting/lending in the USA that apparently caused the whole problem (and banks a regulators over here tending to look the other way to save rocking the boat). Despite what JulieQ and Conrad think, I hope they do tend to err on the side of caution this time.
Me too. In the short term, yes, it will be difficult for the property market. In the long term, it will be a fairer system for the average hard working family to buy a home to live in.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Graham_Devon wrote: »Did you not learn how to construct sentences?
As I said earlier, stop trying making yourself look like a fool.
Lol
Graham, chuckles doesn't have to try to make himself look a fool. it comes naturally.0 -
And another thing.
Proof of income = data from the IR (except in special circumstances that I can't think of - maybe overseas workers or something).
Anyway, proof of income = data from the revenue. This does 3 things.
1. Makes the process more fraud proof.
2. Encourages people to pay their taxes.
3. Potentially cuts down paperwork.
:T30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
And another thing.
Proof of income = data from the IR (except in special circumstances that I can't think of - maybe overseas workers or something).
Anyway, proof of income = data from the revenue. This does 3 things.
1. Makes the process more fraud proof.
2. Encourages people to pay their taxes.
3. Potentially cuts down paperwork.
:T
It would put Conrad out of business.
All these cab drivers on 20k PA getting £250k mortgages.0 -
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Arguably the Tsunami was more predictible and that risk should have been mitigated incidentally, I think that will come out in the enquiry.
Not true. Lots of folk predicted the financial crisis. It just so happens that most people thought house prices would rise forever, the endless supply of debt would never run dry and parceling up NINJA loans as AAA rated instruments and selling them to each other would make the world richer.0 -
Not true. Lots of folk predicted the financial crisis. It just so happens that most people thought house prices would rise forever, the endless supply of debt would never run dry and parceling up NINJA loans as AAA rated instruments and selling them to each other would make the world richer.
Yes, just like a tsunami, a financial crisis will happen from time to time. And just like a tsynami, there are things that can be done to minimize the damage from such an event. It is arguable, and I`ll argue it right now, that we stand a much better chance of not only preparing ourselves better for a financial crisis, but also preventing a financial crisis. I doubt we will ever prevent tsunamis though.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
You'd have to show that there was widespread deception, and there is simply no evidence of that. Most people don't lie about their income on a mortgage application because (a) they have no reason to, and (b) because they assume it will be checked.
If a lender doesn't care one way or another what true income is it's not a factor in gaining a pecuniary advantage, is it?
Where's your proof julieq that it hasn't been widespread over the past few years?0 -
it's because you're not very bright...Graham_Devon wrote: »Why we have to spend time explaining this kind of stuff I do not know.
how about when you thought that 10% HPI a year was called stagnation...
how about when you thought that CGT was paid on the difference between the mortgage and the value of the property...
and how about you thinking Amsterdam was a different country to the Netherlands...
it's not everyone else's fault you're slow...0 -
it's because you're not very bright...
how about when you thought that 10% HPI a year was called stagnation...
how about when you thought that CGT was paid on the difference between the mortgage and the value of the property...
and how about you thinking Amsterdam was a different country to the Netherlands...
it's not everyone else's fault you're slow...
So, it's myself thats not very bright, therefore, I have to explain things to people?
What?
What on earth is going on in your head. Even your insults don't make any sense.
Secondly, I'll ignore your more obvious attempts to get yourself some attention from now. You don't even make any sense with your attempted insults half the time.
This board was actually running pretty well over the last couple of months. No arguments, no childish insults, and no name calling on every thread you visit. Please. Don't come back and drag it all the way back down again.0
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