Nick Clegg - a decent man with integrity and principles

[I1L2T3]

You are quite right, I was involved in the commercial loan market but did stray into the residential side now and again. As I recall (this is going back many years) self certs were worded on the declaration ' I/we certify that I/we are able to satisfy the repayments in respect of this mortgage'. These were for self employed folk that had invoiced out and were awaiting cheques in the post, and couldn't state what any years earning would be. The ones that you are talking about asked them to state their earnings without having to provide proof. Yes some brokers were at fault but what about the lenders who designed the forms?

 

Some people call them "liar loans". The applicant knew they were lying, the lender knew they were lying too. By mutual consent the applicant paid a small "bribe" in the form of a higher interest rate. The government turned a blind eye because it was one important way of keeping the bubble inflating.

 

Completely digusting. But......chickens always come home to roost and that hasn't really happened yet. When we are looking at 50% price falls and 25% foreclosure then we will be deep in the mire caused by this. That is why it is so important. Prices need to be corrected - it can either happen suddenly and catastrophically or in a measured and controlled way. Sadly, the government seems set on continuing the inflation and not really tackling a problem that is catastrophic for our economy - higher house prices do not mean more wealth.

 

Edit: house price inflation to continue

 

http://www.thisismoney.co.uk/mortgages-and-homes/stamp-duty/article.html?in_article_id=507525&in_page_id=80

 

This is part of the plan. This is what Clegg is supporting.

[Darth Vader]

If I ever see Mr Clegg in Sheffield, I will shake his hand and congratulate him on putting partisan politics aside for the good of the country.

 

Well make sure it's him. He's probably seen Cameron's dummy and having one of himself made now, to use as a decoy.

 

http://news.bbc.co.uk/1/hi/uk/10483390.stm

 

Who knows, if he could enlist a good animatronics firm, he could get it to nod and laugh inanely, and he'd never even have to turn up in parliament at all.

 

Be alert around Sheffield, if you seen anyone disguised as Juan Sheet, I reckon....

[Wildcat]

You do realise that Obama hates the English?

He is a supporter of the Mau Mau in Kenya, who murdered English settlers?

 

Is that a joke?

 

32 settlers killed, tens of thousands of Kenyans killed by the British side in many cases through the most brutal torture. Obama's Grandfather, suffered torture himself and along with 70,000 Kenyans was held for two years in brutal internment camps.

 

If Obama has expressed anything other than disgust at the way Britain behaved in Kenya, then he would be deserving of criticism, just like any other commentator would. I think his only references are in his biography, they don't glamourise or condone any actions you would not expect them to.

 

It is not anti-british in any sense that doesn't degrade patriotism to the lowest form of jingoism to be critical of what we did to the Kenyan people.

[artisan]

Is that a joke?

 

32 settlers killed, tens of thousands of Kenyans killed by the British side in many cases through the most brutal torture. Obama's Grandfather, suffered torture himself and along with 70,000 Kenyans was held for two years in brutal internment camps.

 

If Obama has expressed anything other than disgust at the way Britain behaved in Kenya, then he would be deserving of criticism, just like any other commentator would. I think his only references are in his biography, they don't glamourise or condone any actions you would not expect them to.

 

It is not anti-british in any sense that doesn't degrade patriotism to the lowest form of jingoism to be critical of what we did to the Kenyan people.

To be honest I only know what I heard on the wireless as a child.

In those days concern about African lives was not paramount.

But vile brutal murders of white colonists was.

Values change as the world moves onward.

 

I will read up on that era and see what gives.