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Housing market article

(6 Posts)
dinny Fri 15-Aug-08 11:08:20

King is trying to spell it out to the incredibly naive Darling and co - think they'll take heed? [[http://www.independent.co.uk/news/business/news/bank-is-powerless-to-rescue-housing-king-warns-894 703.html ]]

dinny Fri 15-Aug-08 11:08:33

www.independent.co.uk/news/business/news/bank-is-powerless-to-rescue-housing-king-warns-894703.html

blueshoes Fri 15-Aug-08 11:51:57

Mervyn King is right. Darling et al is just making politically expedient noises. There is nothing the Bank of England can or IMO should do to bail out the mortgage/housing market. The return to prudence is long due.

dinny Fri 15-Aug-08 13:27:57

do you think the Gov will blunder on regardless, BS?

blueshoes Fri 15-Aug-08 13:59:59

The fear is that the government will move beyond bluster to actually try to prop up an ailing property market with obscene amounts of public funds to satisfy the opinion polls. That would be pissing in the wind.

The politicians, even if they had a feeble grasp of macroeconomics, must surely grasp what the Guv'nor of the BoE is saying. It is not rocket science. But desperation is an ugly thing.

WideWebWitch Fri 15-Aug-08 14:02:51

Of COURSE the lenders should take the risk, they were happy enough to take the profits. The banks really do need to stop bleating on about poor them, no sympathy I'm afraid.

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