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http://www.theguardian.com/money/201...tire-portfolio
Reading between the lines, once they lost their welfare clients they lost 20% of income. Cash flow crushed & ALL their loans were with "B&B" which crashed & their loan book is getting cleared by 2017 ish.........in short they couldn't find another bank to "roll over" with.
Now my fiends, note what happens when the banks see JUST HOW MUCH cash they can make by CRASHING the housing market............
;))
Mike
Reading between the lines, once they lost their welfare clients they lost 20% of income. Cash flow crushed & ALL their loans were with "B&B" which crashed & their loan book is getting cleared by 2017 ish.........in short they couldn't find another bank to "roll over" with.
Now my fiends, note what happens when the banks see JUST HOW MUCH cash they can make by CRASHING the housing market............
;))
Mike