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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (1059)9/19/2007 9:42:52 AM
From: stan_hughes  Read Replies (2) | Respond to of 71446
 
Well, I can't think of anything that I'd rather see more in the collateral portfolio supporting my holdings of the Queen's Own Sterling (if I had any) than the defaulting mortgage of some itinerant artist who bought a one-bedroom studio apartment with a leaky roof somewhere in East Ham for GBP 300,000 on 100% LTV -- how about you?



To: RockyBalboa who wrote (1059)9/19/2007 9:49:12 AM
From: stan_hughes  Read Replies (3) | Respond to of 71446
 
A likely reason re: the BoE move (found on another site/board this morning) --

"My opinion is A+L were about to approach BoE for emergancy loan. To the people, one bank run suggests a bad company, two says nowhere is safe! Why not accept the mortgages when you will have to accept them at a later stage through the government guarantee"


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