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Ah, please allow me to explain....in Blighty as well as elsewhere the great unwashed (Thick) masses were allowed to borrow money.....lots of money. People whom were totally untrustwory, whom would have been thrown out the bank of few years before were suddenly given "Free money".
The banks (now let off the lesh) dreamed up all manor a "idea's" or frauds. To cover their ass they needed to draw in the middleclass.......thus the bank allowed them to turn their homes in to personal ATM manchines. They also "blessed" us with "Buy to let" home loans wheresome scumbag could borrow a shed full of cash to buy up houses to rent them to those whom (now found) they couldn't afford one.
A great boom then started, workers from overseas were bought into Blighty because there was too much work suddenly about. These workers came, took our cash, lived in the rented houses until the sh1t hit the fan..........were apon they simply took their cash (+ any loans we been silly enough to give them), drove to the airport (in their lease hired cars) & left!
Facing a bit of a problem those "Buy to let" folks then decied to put welfare scum into the houses. Sure the payments didn't cover the costs but hey house prices always go up, right?
There are countless tales in the papers of nice litlle town & villages suddenly getting the scum from Hell moving in, my own Mum & Dad awoke one morning to find they broken in & his lap top,phone & (not very good) car was missing, the local store had 2 (yes TWO!) armed robbery in 6 months! (no crime area before).
As a man whom was raised to folks whom had to be save & srimp their way though life i stood amazed by what i saw. It was like a form of maddness that swept the nation. People suddenly went out & began to live like movie stars...."Bussiness men" (Fraudsters) started to drive round in £50,000 BMW's....
The scam would work as long as one thing happened, house prices went up. If for any reson they stopped going up or God forbid FELL then the jig was up. In 2007 the house market began to stall. They tried everything, they failed.......the banks fell.
The Shit (as you know) hit the fan in 2008 & almost every UK bank was part or full owned by the goverment. As such the banks were told NOT to do what was only senseable thing to do.....Repo the non-performing loans.
Since that time the goverment(s) have tried throwing even more cheap cash at the problem. They lived in fear of a day when houses prices began to fall big time.....ladies & gent today IS that day!
http://www.bbc.co.uk/news/business-13331442
Its a great day my friends, rejouce with Mega.....this is the beginning of the end of the ponzi.
Mike
The banks (now let off the lesh) dreamed up all manor a "idea's" or frauds. To cover their ass they needed to draw in the middleclass.......thus the bank allowed them to turn their homes in to personal ATM manchines. They also "blessed" us with "Buy to let" home loans wheresome scumbag could borrow a shed full of cash to buy up houses to rent them to those whom (now found) they couldn't afford one.
A great boom then started, workers from overseas were bought into Blighty because there was too much work suddenly about. These workers came, took our cash, lived in the rented houses until the sh1t hit the fan..........were apon they simply took their cash (+ any loans we been silly enough to give them), drove to the airport (in their lease hired cars) & left!
Facing a bit of a problem those "Buy to let" folks then decied to put welfare scum into the houses. Sure the payments didn't cover the costs but hey house prices always go up, right?
There are countless tales in the papers of nice litlle town & villages suddenly getting the scum from Hell moving in, my own Mum & Dad awoke one morning to find they broken in & his lap top,phone & (not very good) car was missing, the local store had 2 (yes TWO!) armed robbery in 6 months! (no crime area before).
As a man whom was raised to folks whom had to be save & srimp their way though life i stood amazed by what i saw. It was like a form of maddness that swept the nation. People suddenly went out & began to live like movie stars...."Bussiness men" (Fraudsters) started to drive round in £50,000 BMW's....
The scam would work as long as one thing happened, house prices went up. If for any reson they stopped going up or God forbid FELL then the jig was up. In 2007 the house market began to stall. They tried everything, they failed.......the banks fell.
The Shit (as you know) hit the fan in 2008 & almost every UK bank was part or full owned by the goverment. As such the banks were told NOT to do what was only senseable thing to do.....Repo the non-performing loans.
Since that time the goverment(s) have tried throwing even more cheap cash at the problem. They lived in fear of a day when houses prices began to fall big time.....ladies & gent today IS that day!
http://www.bbc.co.uk/news/business-13331442
Its a great day my friends, rejouce with Mega.....this is the beginning of the end of the ponzi.
Mike
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