Martin Lewis on the agenda ripping Osbourne to shreds

grizzly1911

Didn't AIG believe it could respond quickly to potential CDO defaults? Unfortunately those defaults mounted faster than they could cope with AIUI.

The things you fail to worry about or assume aren't real risks at all prove the most toxic in the long run.

In the same way that AIG didn't adequately set aside capital to meet the potential risk from insuring good CDOs the government is simply banking the rewards now. Never mind the tax payer always picks up the tab.

brit1234

wotsthat wrote: »

So yes the first thing you should consider when hearing about a ticking time bomb is that someone is attention seeking.

Sorry I forgot on this money saving forum you want people to spend more money? Why are you here trolling against the creator of this site who has a history of being right and helping this countries subjects.

I suppose you would of spoken out against Churchills warning of Hitler or Stalin. He was attention seeking as well I supose, neither were a threat yeah.

I find it deeply dangerous in which a society tries to silence whistle blowers. Rather than slapping people down shouldn't we examine with a little effort to see if there is an issue?

wotsthat

brit1234 wrote: »

Sorry I forgot on this money saving forum you want people to spend more money? Why are you here trolling against the creator of this site who has a history of being right and helping this countries subjects.

I suppose you would of spoken out against Churchills warning of Hitler or Stalin. He was attention seeking as well I supose, neither were a threat yeah.

I find it deeply dangerous in which a society tries to silence whistle blowers. Rather than slapping people down shouldn't we examine with a little effort to see if there is an issue?

Turn the context button on. If you think Martin Lewis' comments are analogous to this countries fight against Fascism then you've lost it.

I think that buying a house is one of the best financial decisions a person can make. The longer it's owned the less relevant the initial price becomes. You're on pretty much the same page except you wanted to wait for cheaper prices. That's your choice but don't try and dress it up as some epic good vs evil drama.

antrobus

theEnd wrote: »

Martin's main point is that banks are now ripping off the public in the spread from base rates. When rates rise, the rates paid will be even bigger than before. The govt are encouraging this further with HtB, rather than just letting the market fall a bit. ...

Bank margins have fallen over the past 5 years or so. If Martin is saying different he is (a) wrong and (b) an idiot.

theEnd wrote: »

..
Osborne doesn't have a clue. You can see it in every interview he gives.

Well, somebody clearly "doesn't have a clue".:)

chucknorris

brit1234 wrote: »

Sorry I forgot on this money saving forum you want people to spend more money?

How much money have you saved by not buying a property?

mayonnaise

brit1234 wrote: »

Sorry I forgot on this money saving forum you want people to spend more money?

Money saving is good.

Money saving like buying in 2009 in the Hounslow/Islington area. Imagine the equity someone who did that would have built up by now. They probably could remortgage with a 50% or lower LTV now thanks to HPI. :beer:

N1AK

wotsthat wrote: »

You've been saying this for years but I've just fixed for 5 years at 2.99%. By 2018 I'll have spent almost decade averaging c2.6%.

Maybe these people that you and Martin fear for could take a fixed rate too - they're at historic lows.

Most people buying mortgages today on that 5 year fix, especially if availing themselves to HTB, will have mortgages lasting considerably longer than 5 years. Yes, some of us are currently doing nicely out of low rates, that doesn't mean someone buying near their limit today isn't in a very risky position.

If the market was so confident that we won't see interest rates anywhere near past levels for an extended period there should be products offering 5% life of mortgage fixes etc. The fact there aren't implies that higher rates aren't seen as that unlikely by the people who actually have skin in the game.

Thrugelmir

grizzly1911 wrote: »

How much has Osborne made for himself?

How did Osborne become chancellor and what relevant experience did he have. Did he run a successful commercial enterprise or have any deep financial or economic qualification?

Touche...:cool:

Thrugelmir

antrobus wrote: »

Ah well, there is that. I can remember the reaction of the accountancy profession to the Enron scandal; we need better trained and smarter accountants. To which my reaction was; no you don't. What you need are stupid accountants who are so dumb they have no alternative other than to follow the rules. It's the smart ones who can find the loopholes that are the problem.

Fred the Shred being the top of the tree.

Thrugelmir

purch wrote: »

And yes, you would be rather stupid if you didn't have at least some concerns over the sustainability of the current UK Mortgage market.

The mortgage market has been "managed" very carefully for some time now with a lot longer to go. The options being to burst the bubble and suffer the consequences. Or allow the air to escape slowly so that the bubble deflates naturally. The second option has no guarantee of success either.

Providing lenders continue to be regulated tightly. Then we are in with a fighting chance of resolving the debt overhang. With far less damage. As there will be some. Simply unavoidable not to be.