BofE announces Rate cut by .5% !!!!!

[Fishface]

Pay your corp tax early and get 5% from the tax office

[Cyberman]

I would also add that a 1% cut with bank recapitalisation a year ago would have saved many people who have now lost their homes due the extended credit crunch. Mortgages would have been much easier to get.
Remember, the demise of Northern Rock is destined to reduce their mortgage book by about 60 Billion, and thus remove that sum from overall national liquidity, and that was really stupid and unecessary !!

[Peoplesoft bloke]

I would also add that a 1% cut with bank recapitalisation a year ago would have saved many people who have now lost their homes due the extended credit crunch. Mortgages would have been much easier to get.
Remember, the demise of Northern Rock is destined to reduce their mortgage book by about 60 Billion, and thus remove that sum from overall national liquidity, and that was really stupid and unecessary !!

Ere. Cyberman, do you think the government may have been a bit inept over NR then? I only ask as you seem a bit unsure - and you've hardly mentioned it

[AlfredJPruffock]

interesting comment on the beeb site -


Cutting interest rates will have little effect unless they are cut by around 2.5% which the teasury will never do.

The global financial markets have been hoodwinked by the Americans who have off-loaded their bad debts by repackaging them to make them look good. Now we are all paying and will pay for some years to come.

This has been created due to systemic problems with the global financial markets and the total lack of any proper audit trails and proper risk management of debts and borrowing.

All of those bad debts are like grenades that have started exploding in the system and is now effecting everything. What we have seen so far is the aftermath of these questionable debts and the effects will continue for some time to come.

[Peoplesoft bloke]

interesting comment on the beeb site -


Cutting interest rates will have little effect unless they are cut by around 2.5% which the teasury will never do.

The global financial markets have been hoodwinked by the Americans who have off-loaded their bad debts by repackaging them to make them look good. Now we are all paying and will pay for some years to come.

This has been created due to systemic problems with the global financial markets and the total lack of any proper audit trails and proper risk management of debts and borrowing.

All of those bad debts are like grenades that have started exploding in the system and is now effecting everything. What we have seen so far is the aftermath of these questionable debts and the effects will continue for some time to come.

affecting

[Cyberman]

Ere. Cyberman, do you think the government may have been a bit inept over NR then? I only ask as you seem a bit unsure - and you've hardly mentioned it

As I've said many times, New Lie have been totally inept. Hopefully, the true extent will come out in the January Judicial Review brought by the major shareholders on compensation.
You may not be aware, but HMG brought in a law to keep their dealings on Northern Rock a secret, but I think they will find that they are under a duty to disclose. This should be very embarrassing for them and Mr Preston at the BBC !!

[hyperD]

Well according to the trusted standards of fiscal weighting, a pot noodle is still worth a five finger shuffle.

[BrilloPad]

Well according to the trusted standards of fiscal weighting, a pot noodle is still worth a five finger shuffle.

I think Diver has tried to reduce the rate to four fingers with the help of his power tools!