Do you ever wonder if Gordon Brown has too much money?

[AtheneNoctua]

WTF, as if Norther Rock wasn't bad enough... let's just sell out the taxpayer to whole banking industry.

Banking industry bail out

Upwind that situation already exists.

The homeowner hands back the keys to the bank and declares themselves bankrupt resulting in the bank not being able to persue the excess loan balance not cleared by the sale of the repossessed property. Those of us who borrowed sensible salary multiples then have to subsidise the bank's poor lending decisions by higher interest rates.

Re BTL properties,

If GB hadn't been a sneaky thieving git dipping into pension funds as soon as his bum hit the seat in Downing Street in 1997, far less people would have seen making mortgage payments on an additional property as an attractive alternative to making pension payments.

Those of us in the private sector have had to increase our pension contributions to make up for the removal of the tax credit reclaim, increase them again to take account of lower returns and whilst we are at it see a larger part of our taxes money set aside to do the same for public sector pensions.