Originally posted by OwlHoot
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Reply to: Welcome to 2007
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Previously on "Welcome to 2007"
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Originally posted by OwlHoot View PostAIUI the original sub-prime problem wasn't so much the dodgy lending per se, but that this was hidden and disguised within portfolios of supposedly sounder loans, the financial equivalent of mixing radioactive waste with household refuse.
The John Bird and John Fortune piece on it is still the best explanation that I have seen going. linky (It is SFW but not if work does not like YouTube)
Originally posted by Doggy Styles View PostIf banks want to take the risk, I hope its only small institutions like Kensington and Precise, we don't bail them out if it goes tits up.
There is nothing wrong with lending money to higher risk customers provided that everyone involved is aware of the risk they are taking. If it all goes tits up then the taxpayer should not be bailing them out.
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Originally posted by OwlHoot View PostAIUI the original sub-prime problem wasn't so much the dodgy lending per se, but that this was hidden and disguised within portfolios of supposedly sounder loans, the financial equivalent of mixing radioactive waste with household refuse.
If banks want to take the risk, I hope its only small institutions like Kensington and Precise, we don't bail them out if it goes tits up.
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Originally posted by Clippy View Post
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We say 'overlooked by the high street'
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Originally posted by Clippy View Post
"Figures today from the Bank of England revealed that net new mortgage lending (not including redemptions and repayments) in September was £112m, down from £1.62bn in August. "
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