Tuesday, July 29

Nationalised mortgages?

Latest news on the mortgage crisis (i.e how can banks that don't have any money lend it to people who can't afford to repay it to allow house prices to continue rocketing up because "there's demand") - the bankers solution appears to be a partial nationalisation of the mortgage market. Blimey. You wouldn't have thought they'd be in favour of nationalising it.

Except... the bit they seem to want to nationalise is the risk. I bet they've still got the potential profits as privatised.

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