Quote:
Originally Posted by WillowTheWhisp
That wouldn't work because it would deter banks from loaning money and we need banks to start having the confidence to loan again.
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Banks have had the upper hand for a long time, you as a small businessman approached the bank for a loan to promote a new idea or product, they would ask you to sign your house over as colateral....but if you wanted a morgage and had no money to cover your debt they would sell your house from under your feet.
The mortgage market has gone tits up and houses are being sold for peanuts.
I once had a bank manager (Now extinct) say to me 'If you can prove to me that you don't need the money, I will lend it to you'
The, I am not allowed to say ' The stuff has hit the fan....but it has.