I know the banks have a lot to answer for in this recession, credit crunch call it what you like. But the doom and gloom that has come from the BBC continually for the last 9 months they seemed determined to talk us into it.Watched a programme the other day that stated Bradford and Bingley were struggling throuhg till the BBC,s Robert Peston put his blog on the internet and the next day people withdrew £90 million pounds.
Perhaps if some of thier jobs were on the line they might cheer up a bit . 5 live you know who you are!
You’re dead right.
The press and the banks have brought it all on.
HANG THE ■■■■■■■■■
limeyphil:
You’re dead right.
The press and the banks have brought it all on.HANG THE [zb].
Don’t forget the Government, they made a massive contribution to our present predicament.
They should all be disgusted with themselves. Greedy Gits. 
Your right.there’s nothing but doom and gloom on the beeb.The other day they reported that morrisons were to create 5,000 jobs and i was a bit surprised to say the least at it clearly doesn’t fit into there agenda of redundancy speel…
i agree to a point, but something had to give , the level of debt that some folks have is beyond belief , one of my mates reconds hes got 25k on a credit card 
, i didnt think that was possible, but if its right its shocking, id be having some sleepless night over it.
i agree the papers are causing a lot of the problem , but in a lot of cases a reality check was needed.
as our mum always says , if she hasnt got the cash she doesnt have it,
The powers that be will not let someone have as many mortgages as they want - checks are carried out - so why not do the same for general credit 
If each individual has been given a limit to which they cannot go beyond then that leaves the credit companies battling for that individuals credit - better all round for the individual and no massive over-credit.
There is an old saying which goes like this. " When America sneezes, Britain catches a cold". The present Recession, which is likely to get a lot worse before it starts to get better, was kicked into gear in this country by the collapse of the American Mortgage Industry, due to the fact that the people who had been allowed to borrow up to 8 times their salary to buy homes, not being able to keep up with their mortgage repayments…The Banks had been selling these debts on to other banks, in other countries. Britain is one of the countries that bought a lot of those American debts, so when they went belly-up. so did the British banks,and Building Societies, that were covering the debts.Then there is the Credit Card debt. I know people with 6 to 8 Credit cards. They borrowed up to the hilt on one card, and made their repayments by drawing on other cards.They were allowed to transfer the debt from one card, to another, being encouraged to do so by the Credit card companies. The bottom line is that too many people borrowed too much money that they could not afford to repay. If everyone did as Ady1,s mum says," if you have,nt got the cash, do,nt buy it". we would not be in Recession.If Robert Peston keeps on going as he is to date, we will be very fortunate not to end up in a Depression.I was born in 1934, I know what that is like. Fingers X,d.
lefkasman:
I know the banks have a lot to answer for in this recession, credit crunch call it what you like. But the doom and gloom that has come from the BBC continually for the last 9 months they seemed determined to talk us into it.Watched a programme the other day that stated Bradford and Bingley were struggling throuhg till the BBC,s Robert Peston put his blog on the internet and the next day people withdrew £90 million pounds.
Perhaps if some of thier jobs were on the line they might cheer up a bit . 5 live you know who you are!
How long did you think properties going up in price by tens and hundreds of thousans of pounds in less than 12 months would last? Thats what we’ve all been living on,if not directly then as a consequence of people spending that extra dosh they’d made. I’d expect things to get a lot worse before they get any better from what i’ve seen never mind what the BBC say !
Mike-C the prophet of doom and gloom,come away from the darkside Mike 
BTW happy new year. 
i know he’s a doom and gllom merchant but that robert pestulance predicted all this on radio 4 long before it happened.(back around may last year).and he’s ussually in the know now.
i hope he doesn’t predict a comet strike or the like.
Just watched an interesting programme on BBC2 about how this mess happened.Much too complex for a simple man like me to try and put it into words
It’s called The City Uncovered,now available on the i-player(if you’re interested )
Buycrider:
They were allowed to transfer the debt from one card, to another, being encouraged to do so by the Credit card companies…
Now thats just abuse of 0% balance transfers.
I always balance transfer at 0% every year but it is wise to have the old card account shut down.To not do so and continue to use the old card is not the fault of the credit card company.It’s the fault of the person using the facility.
well i’ve just browsed through the jobs section in my local rag and can’t belive so many vacancies for DEBT COLLECTORS not for me personally but maybe said jobs should be forced upon these financial bods/city types who are now out of work… 
it would show them the effects of there actions and keep the dole figures down (ever so slightly) 
were in the ZB cos
people & companies borrowed more money than they could repay if their circumstances changed for the worse
to make matters worse they borrowed money from people who borrowed from people who borrowed money et al
so in effect what happened was Peter was robbing Paul who was robbing Fred who was robbing Peter
house prices IMO where forced up when the banks started buying up estate agents hiking the price so commision could pay for takeovers
it all went pear shaped so they dreamed up other money grapping scams
Ya mean house prices went up in Liverpool Mike? … WOW
Apparently the BBC,s money expert and cash guru has just filed for bankrupcy. There must be a God after all
Her name is Lorne Spicer from cash in the attic. Mind you Id help her out if she asked nicely