Sterling recovers

[BrilloPad]

Take those Tory boy blinkers off FFS.

Almost all the people who are responsible for this mess are Tory voting bankers, you might want to think about that for a while.

I will sleep well at the next general election knowing my vote will be cancelling out yours.

Did the labour voting bankers do any better?

This crisis is caused by government encouraging us to live beyond our means. We need a leader who tells us to spend what we earn : bring back Maggie.

[Schrodinger's Cat]

Did the labour voting bankers do any better?

Like Tory voting NHS nurses, there's no such thing.

[Bagpuss]

But it wasn't simply through carelessness that Governments in the UK and US and elsewhere let bank lending standards slip, as they would have us believe. There has been a deliberate policy to encourage and even threaten banks to allow more "social lending". And why? Largely on account of uncontrolled immigration, over twenty million in the US over the last few years for example I believe, and huge numbers in the UK and Spain and other Western countries as well. That's obviously a massive amount, and all those guys need houses, which has a knock on effect on prices all up the line for longer-established but still poor residents.

To people like pm-junkie and Bagpuss (who scorned this idea last time I aired it) I say open your eyes!

Sounds like you have a severe case of CyberToryitus developing there!

Banks Threatened by Government into subprime lending, you heard it here first

[Cyberman]

Cyberman, you are quite right - my sincere apologies for calling you a racist. Looking through my posts I have you confused with someone else. I am of course a pratt.

I have edited my posts accordingly.

I still reserve the right to call you a pratt though

I shall get back to writing my book, and shut up until my brain reboots.

Apology accepted PM-Junkie.

[Cyberman]

I would have thought immigration would more affect the rental market than buying? Most only stay for a few years then go home?

You've been listening to too much New Lie propaganda. Most actually stay, as time will show. How can you actually say that most go home when as yet they haven't !!

[BrilloPad]

You've been listening to too much New Lie propaganda. Most actually stay, as time will show. How can you actually say that most go home when as yet they haven't !!

Mrs BP takes kids to school along A20 : 2 years ago the coaches to LOndon were full and those leaving were empty. These days it is the opposite. I am sure I read articles about alot of poles going home.

[BrilloPad]

Like Tory voting NHS nurses, there's no such thing.

There are always a few. In fact my boss at HBOS was a labour voter.

[Cyberman]

Mrs BP takes kids to school along A20 : 2 years ago the coaches to LOndon were full and those leaving were empty. These days it is the opposite. I am sure I read articles about alot of poles going home.

You did read them and so did I. You believed them and I do to an extent, but that does not mean that MOST will return home. The standard of living and benefits is far higher in the UK, so until we have actual numerical evidence to prove most of them have returned home I remain sceptical to say the least.

[OwlHoot]

Sounds like you have a severe case of CyberToryitus developing there!

Banks Threatened by Government into subprime lending, you heard it here first

OK try this for starters:

The thousands of mortgage defaults and foreclosures in the "subprime" housing market (i.e., mortgage holders with poor credit ratings) is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. The policy in question is the 1977 Community Reinvestment Act (CRA), which compels banks to make loans to low-income borrowers and in what the supporters of the Act call "communities of color" that they might not otherwise make based on purely economic criteria.

The original lobbyists for the CRA were the hardcore leftists who supported the Carter administration and were often rewarded for their support with government grants and programs like the CRA that they benefited from.

:::

Don’t expect to read about this in the "mainstream media," however, which generally views groups like ACORN as heroic champions of the poor, laws like the CRA as anti-discrimination laws, and places all of the blame for the subprime mortgage meltdown on greedy capitalists

:::

or this :

President Bush advocated the "Ownership Society." According to the New York Times, "he pushed hard to expand home ownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards." He insisted that Fannie Mae and Freddie Mac (the GSE) meet low-income housing goals and advocated government loans to help low-income homeowners make down-payments. The Bush administration also replaced Fannie and Freddie's chief regulator in 2003 immediately after the regulator published a report warning of the risks posed by the GSE.

[BrilloPad]

OK try this for starters:

There is certainly evidence of it in the states : but is there any evidence in the UK?