Finacial Freefall
Is the world going crazy? Just watched documentary about the credit crunch and it cause......guess who? The Banks or to be more accurate the bank employees out to make a fast buck selling mortgages to poor suckers who they knew had no chance of keeping up the payments, but what do they care they have made a tidy living off it for yearsand now the bubble has burst they are sitting pretty have made they're money. So what if the bank does go down......it's the poor suckers at the bottom of the food chain that will suffer not the fat cats and the money grabbers. Those who have ter're homes reposessed, those who will lose they're life saving when another big bank bites the dust........incidentally rumour has it that the next of the big five to feel the bite is HSBC and the BoE are preparing a package to inject rescue money from yours truly the taxpayer to bail them out, I supect that it may take a few more quid than it took to stabilize Northern Rock. If so who's next If Mr Labdbroke is giving good odds my betting slip would read HBOS I'd make it a each way bet though!!!!
Last edited by brian; 02-28-2008 at 02:02 PM.
|