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| |  Posted 10/04/2008 12:24:33 | |
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| | Just have to wait for another 6 weeks before my fucking mortgage company pass on the rate cut. Bastards.
I gave Elano my Porsche and now I want it back! |
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| | | Posted 10/04/2008 12:33:57 | |
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Used to be SB, you know
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| At least you're not looking for a new mortgage (presumably). Apparently cuts in interest rate won't be passed on in terms of new mortgage offers, and most of the best deals have been withdrawn now, too.
Keeper of the heretic's fork of doom. |
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| | | Posted 10/04/2008 12:58:58 | |
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| Labmonkey (10/04/2008)
At least you're not looking for a new mortgage (presumably). Apparently cuts in interest rate won't be passed on in terms of new mortgage offers, and most of the best deals have been withdrawn now, too.So, the banks want to take advantage of the current climate and shaft us? How unusual!
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| | | Posted 10/04/2008 13:03:40 | |
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Used to be SB, you know
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| slart (10/04/2008)
Labmonkey (10/04/2008)
At least you're not looking for a new mortgage (presumably). Apparently cuts in interest rate won't be passed on in terms of new mortgage offers, and most of the best deals have been withdrawn now, too.So, the banks want to take advantage of the current climate and shaft us? How unusual! Funny that, isn't it? However, I'm sure in a brighter financial climate they will pass on their good fortune and hefty profits to us, as a reward and mark of gratitude to the customers who will be bailing them out of a situation largely of their own making...
Keeper of the heretic's fork of doom. |
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| | | Posted 11/04/2008 12:43:57 | |
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| | I learned yesterday why cutting interest rates is good for share prices. That's what I do with my holidays, read economics books. I am soooooooooo cool.
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up, charm, top, down, strange, bottom |
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| | | Posted 11/04/2008 13:33:40 | |
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| | No need to worry folks, the answer is here:
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up, charm, top, down, strange, bottom |
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| | | Posted 11/04/2008 13:39:27 | |
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| Labmonkey (10/04/2008)
slart (10/04/2008)
Labmonkey (10/04/2008)
At least you're not looking for a new mortgage (presumably). Apparently cuts in interest rate won't be passed on in terms of new mortgage offers, and most of the best deals have been withdrawn now, too.So, the banks want to take advantage of the current climate and shaft us? How unusual! Funny that, isn't it? However, I'm sure in a brighter financial climate they will pass on their good fortune and hefty profits to us, as a reward and mark of gratitude to the customers who will be bailing them out of a situation largely of their own making... Got to disagree a smidgeon here. While it may have been them lending to sub prime folks, and bond trading, and to some extent junk bonds (though that name is way more emotive than any damage they caused) that has begun this mess, there is also no gun to anyone's head to borrow more than they can afford, or (and this is the killer) expect huge returns on their savings. We have, in general, become greedy. We tend to expect prehaps a little more interest from our money than it actually deserves, we expect better and better earnings per share, and better and better dividends. The people who have caused the current crisis are basically me and you. (not actually me and you, though that would be cool supervillianage). It'll all work out-perhaps for a while we'll stick our money under a mattress, and spend a bit less, but it'll bounce back. These things need to happen every now and then to an economy. (that may well be an intelligent post btw. Coupled with the one on betting that may be two). *seeks champagne*
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up, charm, top, down, strange, bottom |
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| | | Posted 11/04/2008 13:40:09 | |
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| Not sure what the Bank of England hope to achieve by this. The rate at which the banks are lending money to each other bears no relation to the BoE base rate, ergo no benefit to us.
Si thi tha nos |
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| | | Posted 11/04/2008 13:55:50 | |
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| ESM (11/04/2008)
Not sure what the Bank of England hope to achieve by this. The rate at which the banks are lending money to each other bears no relation to the BoE base rate, ergo no benefit to us.An increase in share prices across the board.
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up, charm, top, down, strange, bottom |
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| | | Posted 11/04/2008 15:06:07 | |
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Used to be SB, you know
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| Benny (11/04/2008)
Got to disagree a smidgeon here. While it may have been them lending to sub prime folks, and bond trading, and to some extent junk bonds (though that name is way more emotive than any damage they caused) that has begun this mess, there is also no gun to anyone's head to borrow more than they can afford, or (and this is the killer) expect huge returns on their savings. We have, in general, become greedy. We tend to expect prehaps a little more interest from our money than it actually deserves, we expect better and better earnings per share, and better and better dividends. The people who have caused the current crisis are basically me and you. (not actually me and you, though that would be cool supervillianage). It'll all work out-perhaps for a while we'll stick our money under a mattress, and spend a bit less, but it'll bounce back. These things need to happen every now and then to an economy. (that may well be an intelligent post btw. Coupled with the one on betting that may be two). *seeks champagne* I agree that personal responsibility should play a huge part in borrowing, and personal assets/lifestyle should always be kept within one's means. People who run up thousands of pounds of debt on credit cards because they want more shoes, for example, or want to live in a house that they have no way of paying for, make me angry. I have nothing but contempt for them. However the banks had to look at the situation and think that things were getting out of hand, which was pretty obvious to anyone. Banks should really act like parental figures to greedy children - if you leave the sweets in front of them, they will have them. There comes a point where they have to be rationed/restricted for the child's own good, because you know people don't have the sense or the self control to decide when enough is enough. So although I agree that pure greed from individuals has contributed much, the banks were the ones who were in a position of authority who could have stopped the self-indulgence and prevented this happening, if they had wanted to. They chose not to. Therefore it is of the banks' making that this has happened even if human greed is at the root of it.
Keeper of the heretic's fork of doom. |
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