Brown's spend, spend, spend during his Chancellor's days has brought us into the current economy we are facing today. His appeal at a Downing Street meeting for the lenders to pass on cuts appeared to fall on deaf ears with HBOS, which owns the Halifax, increasing its rate on some mortgages from 6.09 to 6.59 per cent. Borrowers taking out this type of deal will now pay 46 more a month. On a two-year tracker, the rate will increase from 1.49 points above base rate to 1.99 points, giving a current rate of 6.99 per cent.

Other lenders are expected to follow Halifaxs lead.

If the Government wants the banks to lower mortgage rates to home owners - why not just offer them through Northern Rock? Everyone would rush to the Rock to get the loans forcing banks to match the rates or lose the business? Or maybe the government would then run into bigger credit crunch?

Anybody remember BCCI? Lesson not learned.

this is what Gordo has allowed to happen to us , Jeez

CANBERRA (Reuters) - Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.
But Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound pledge this week by the government to bolster bank balance sheets.

Britains banking system best in the world.. after El Salvador ..lol.

and PERU.

BCCI HINDU BANK

Why, when I see Brown or Darling on the box do I think of flounders, deck chairs & the Titanic?

This is turning into a total disaster.....I never thought I'd be mentioning 1929-30....but this is very very serious.....!.

we r going to communism soon.

china will rule uk and usa soon......u will be walking military style to work and worshipping chinese leader.

if u look at john templeton, one of best if not the best investors, he bought on max pessimism......but he started when depression was running which lasted 25 years!

what did he do or what was required?

a MAJOR WAR was needed and WW2 was perfect opportunity.....he invested in lots of poor sp shares and he quadrupled his money in 5 years.

moral of story is we need a major war............russia or iran seem high on list.
i'd go for russia as its been dangerous and evil for last 100 years.....and putin wants to take on usa anyway and wants to nuke poland and ukraine.

and on top of all the rest of the bad news the Sunday Times is full of stories of Labour politicians feeding at the trough

nothing new there then!!!

i remember when john major was in power the media went on about sleaze etc......cash for questions....err tha was 1k or therabouts.

labour politicians are fleecing millions......geoffrey robinson the paymaster general i think 12 million went missing but nothing happened.......then theres mandelson, cherie blair and her dodgy house deal. even labour councillors are corrupt.......most aint true socialist anyway as most have shares, pensions etc. browns pension is huge in pensions.

when stalin died, all he had was 3 suits........now he was a true socialist.....and for the masses

I think Brown's done okay actually. He just needs to extract big concessions from the bank. The problem is the media who go mental as soon as regulation is mentioned. They cite the fear of so -called "wealth creaters" fleeing the country. Good, we might get people who actually know what they're doing. People in finance should be forced to sigh a hippocratic oath. And if they do not deliver properly they should be put in jail. David Cameron is even worse when it comes to deregulation and favouring bonuses. LETS HAVE BLOOD!!!! I want to see Brown force the heads of every bank onto a panel in front of live TV and each one stands up and apologises, a beating in public would be good too. He should demand the money if they want this. ACCOUNTABILITY!!!!! The people want blood.

We don't have anyone better at the moment. It is a good job laughing boy Tony has gone he would have been as much use as a chocolate wheel in these hard times.

www.netcastdaily.com/broadcast/fsn2008-1011-2.mp3

listen to above link.......its scary.

ok, it talks about usa corruption......but uk has lot of corruption too esp in last decade with this globalisation.

guy says it will take MINIMUM OF 40 YEARS TO IMPROVE.
he says it will be WORSE THAN 1929 DEPRESSION.........AND THAT WORLD WAR 2 WAS REQUIRED TO IMPROVE THAT.

WE NEED A MAJOR WAR RIGHT NOW!!!!

Think of 2 years ahead, if we have the corpse McCain and the "Headless Body" Paliol in "control" of America.

Alongside that, the novice "Cameron" and side kick "Osborne" as premier and Chancellor of England.

I think it would be time to move.






WHERE?


If your not depressed now, you soon will be!!!!

Time to start building that bunker.

Gordon Brown hoping to get to No 1 in the Charts to raise 50 billion !!

http://uk.youtube.com/watch?v=kQdNLFVdwfQ&feature=related

Saintserf - I recall it was Cameron that asked the PM, in Parliament, whether he would ensure the Bqnkers don;t receive Bonuses this year - so I don't think he's for "every possible bonus"(my words). As I understand it, correctly earned bonuses are good - it;s just that increased risk was rewarded with increased bonus, whereas the opposite should apply!

Is GB ruining the Country - (yes), IMHO, but slowly - the whole sorry state of "World Banking" is not his fault...but closer to home the failure of NRK, HBOS, B&B and several others are a direct result of his "light touch" policies which split responsibility 3-ways. At the time the BoE started setting interest-rates was quite clever, but no-one knew if it would work. It appeared to.
If you "dislike" GB running things, that's OK - but who else? We are seriously short of someone with that "gravitas", apart from Brown - the others are variations on Darling/Cameron/etc. fairly weak against Brown. If he can change International co-operation ( and he might!), then it our best hope to leave as a legacy.
Whether the policiy "today" is right, time will tell. Some wonder if Banks shouldn't be allowed to fail, or increase their interest-rates to the point no-one wants them.
- If we had a National "Post-Office" that could still provide cash and savings in every town/village, but in an attempt to be "...?..." we have closed them, ruining small village communities.
. . . . . . Yet GB is able to find Funds beyond our wildest dreams . . . .

Yet GB is able to find Funds beyond our wildest dreams . . . .

Yes, and you know who is going to stump up for it.
Brown may fancy himself as an accountant, but who wants to be governed by one? About as much charisma as a stale sandwich.
And don't forget how he managed to find the bottom of the market to sell the country's gold reserves.
I have noticed the work going on at no.10. I wonder if he is selling the furniture from there as well....

Isn't GB moving out of no 10?

Oh, I agree. The banks and capitalism should not have been bailed out. They should have allowed the money lenders to collapse. Who needs the "lending market" anyway.

We need market forces to give us 20 years of stagnation.

Makes a leaner more efficient economy.

Good for the public good. Teach them a lesson!

Mind, I think GB should have bought up the bad debts of the banks or given a cash gift , they should be subsidised!

Scrap education, health services, social services and police etc. there are some who don't need them.

Again I think it is a socialist plot to run down the economy.