Cr4ppy rates being offered ? Blame the credit crunch.......

Not forgetting that many people have equally, voluntarily, overstretched themselves. It's not a legal requirement to borrow money. 'No' has always been an option.

ROVworld Webteam Joined: Dec 26, 2003 Location: Scotland

DogStarROV wrote:

Quote:

Regarding people over stretching themselves - this is what I believe has caused all this financial fiasco. Over the last decade people have been living on credit they can't afford - isn't that exactly what this "tocic loans" that has caused the Banks so much bother?

Regarding banks over stretching themselves - this is what I believe has caused all this financial fiasco. Over the last decade banks have been giving loans they can't afford- isn't that exactly what this "toxic loans" that has caused the people so much bother?

It is not that the bank could not afford the loan - the problem begins when the people who were given the loans could not afford to pay them back!

ROVworld Webteam Joined: Dec 26, 2003 Location: Scotland

People have been asking where all the money has gone. The truth is it was never there in the first place.

Stocks and shares are only worth what people THINK they are worth.

This is the overall problem with the whole financial system.