Fact or Fiction?

[notNBSagain]

I am not saying that this has actually happened. I don’t know. I am just enquiring if anyone else has heard about it?

 

Whilst in the pub the other night, I over heard a conversation that went along the lines of: The Bank’s and Building Societies, had before the crash, been allowing home owners to get into difficulties so that they could reposes their homes, purchase them cheap at auction via a 3rd party and then sell them on for full price via the 3rd party thus depriving the owners of their home and equity, making themselves a nice profit. I wonder if anyone else has heard of this. I can easily see how these institutions could have looked on with envious eyes as equity soared for the homeowner and not for them. After all they had a mortgage invested in the place.

 

Nothing would surprise me these days; this would be yet even more rich pickings from the cash cow that we members have become?

 

I don’t normally listen into conversations, only I couldn’thelp it as they were standing right behind me and I couldn't help it.

Edited June 23, 2013 by notNBSagain

[renegadeimp]

Theres no proof of this, but it wouldnt surprise me at all, given the antics of some of the biggest banks over the last few years.

[osdset]

Perfectly plausible, from a moral standpoint the Bank’s and Building Societies would have no qualms because to them it would represent a shrewd business move so long as they did not actively encourage people to swim out of their depth.

 

[caro]

I think this is very likely with the sub-prime lenders.

[notNBSagain]

HI,

I'd never seen them before but one of them looked a bit of a banker, so I suppose he may or may not have known what he was on about?

[assisted blonde]

if they did they did it is business but there is always a conspiracy theory !!

[sequenci]

I'm sure there are provisions in law to prevent that sort of thing from happening - that said with the way companies can be structured I also imagine it would be very easy to circumvent the rules.

[duckwaddler]

As others have said, it wouldn't surprise me in the least, in my opinion banks are a law unto themselves, and are at times legalised thieves when it comes to raising interest rates when it suits them, and making it difficult to pay more than the minimum on credit cards etc.

 

But the other reason I believe this could be plausible, is so many customers (Santander) had their overdrafts taken from them going back about 2yrs ago now, it didn't bother me as I don't use mine, but it came to light that their reason for doing this to everyone was to manipulate their lending statistics.

 

Those who wanted their overdrafts had to apply again (even though it came automatically with the bank account in the beginning), therefore it appeared that their lending had gone up!

 

They just forgot to mention that the overdrafts had probably dropped as people such as myself who originally had the facility, didn't bother applying! So it was less than the previous year!

 

Craft huh?

[osdset]

A little snippet that's highly appropriate to this thread.

 

here http://unemploymentmovement.com/forum/chat-a-rap/6312-bankers-caught-on-tape-joking-about-bailout-and-how-theyd-never-pay-it-back

 

Out of the horses mouth.

[notNBSagain]

If they did it they should be inside, awaiting a noose. These are peoples homes not houses.

[renegadeimp]

To a bank, they are not houses. They are purely numbers that can be manipulated into cold hard cash for the bankers.

[notNBSagain]

The bank's and building society's are worse than criminals and building society's are the worst. We expect this sort of thing from criminals, scmmers and other low life, but not from the bank's and building society's. To make it worse building society' hide behind NOT being like bank's and having members who they can rip off with low interest rates and high interest rates depending on direction of travel, plus anything else they feel that they can get away with.

When you have problems they don't want to know. You automatically become an "I won't pay " NOT an “I can’tpay”. Remember criminals have rights, building society members and bank customers don’t.

Edited June 28, 2013 by notNBSagain

[renegadeimp]

Banks are private companies. All private companies are the same and exist for one reason. To make money. The banks have the added bonus that the government won't do anything to them as the directors of the bank sit as advisors and as lords, as well as donating through intermediaries to whichever party is in power.

[duckwaddler]

A little snippet that's highly appropriate to this thread.

 

here http://unemploymentmovement.com/forum/chat-a-rap/6312-bankers-caught-on-tape-joking-about-bailout-and-how-theyd-never-pay-it-back

 

Out of the horses mouth.

 

OMG!!!

 

Did you listen to the recording on the link?

[notNBSagain]

Yeah! Disgusting isn't it. Hopefully they will get their comeuppance one day.

[notNBSagain]

Thanks duckwaddler & osdset.

I hadn't seen it. I have now. Authorities turning blind eye don't care at all. I suggest we teach the b*****ds a lesson and kick them all out at the next election. What we need is new blood. Remember MP's expenses. If everyone who voted conservative and liberal democrat last time voted labour and everyone who voted labour voted conservative and all those who didn't vote stayed in bed and continued not giving a dam, then in theory every MP in the government at the moment would be out and we would have completely new parliament, full of new blood. Of course though, we could all vote UKIP. that would teach the b*****ds .

I must say, I was amused to see the Tower of London in the background, that is exactly where they deserve to be imprisoned, awaiting the axe.

The real problem is that MP’s think they have a career, and the voters can go to hell and back again. They forget that we put them where they are and pay them. They also tend to forget that the government has no money and neither does local government. The only money they have is ours. which they are extremely loathed to give back to us when we need it. Going back on their word planning cut backs in pensions etc. etc.

Don't let them get their feet under the table, it's a mistake. Keep voting them out instead of in, it sharpens their mind's and makes them think of us for a change.

[renegadeimp]

If you REALLY want change in this country then you need a new political party. Get the people who want change behind you, get economists etc to draw up a plan, then get started in the local by elections and progress up. The current main 3 parties are in it for themselves. They have proven that over and over yet people are too stubborn or stupid to realise that and keep blindly voting for them in every election.

 

We have dozens of political parties for each constituency yet only 3 really ever get voted for.

[notNBSagain]

The biggest problem is that the voters are too isolated. They need some sort of organisation in order to be able to pull together and get rid of the rubbish we find ourselves stuck with. If only we could come together with a plan to target and kick certain MP's out, then they would have to change the way they operate, irrelevant of their party, in favour of the people and not themselves. We need a new party that has a chance of getting in and getting us our country back from Europe.

[renegadeimp]

One big problem is "safe seats" that just happen to be the deciding constituencies. The conservatives for example have 1 deciding seat that has been safe since the early 1900's

[notNBSagain]

Even so, I bet most constituents don't bother voting even in safe seats. If they did start voting and were a part of the plan, then there would be no safe seats at all. However, it would need organisation and commitment from all the non voting electorate to vote and to vote the way required.

If this happened we the electorate could put any party we wished into power and really take charge of our country instead of it being left to these Morons.

[renegadeimp]

It's been this way for over a hundred years. It's ingrained in the minds of people. You wont change it.

[notNBSagain]

Good game lots of fun.

 

We're doomed.

Edited July 2, 2013 by notNBSagain

[caro]

Was just browsing the FCA site and thought you folks may be interested in this. http://www.fca.org.uk/consumers/financial-services-products/mortgages/mortgage-fraud

[notNBSagain]

Hi Caro,

 

Thanks for link. Sadder and Sadder all the time.

Edited July 20, 2013 by notNBSagain
mistake

[duckwaddler]

Sorry I have only just seen your replies, I've not been on in a while and couldn't find the thread

 

Odset's right, a brand new political party is what's needed - only thing is, political folk are greedy folk, no matter what party they're from, it would be nice if the people could run the country!

 

Not gonna happen though, and wouldn't work!

 

I really don't know what the answer is