Why bail out builders?

Someone should direct him to here.

Oh I think the piece of **** knows we exist. He has robbed enough material from this site to prove he is a regular. In fact if someone asked me I could lay out a pretty good guess what identity he has on the pin.

Pray tell?

Now, now. I don’t believe we should be speculating on pinsters identity if they wish to remain anonymous.
Check out the forum rules/guidelines as well.

Yes, this is true. It goes against the rules on this thread:

Cut it out BB and KN.

even if he robbed every bit of the info from a site the good thing is that more people read the IT than the PIN (as much as i would like to see that change i don’t think it will!) and getting some of the ridiculousness out about homechoiceloan is a good thing no?

the fact is that this site has become a news source.

Have to agree here, while it would be nice if the pin got a mention at least he is spreading the good word.

More of this please.

Its not really bailing out the builders as much as bailing out the banks.

Those up to €285k loans end up as deposits in the banks anyway and they help shift an empty in the process.

Kinda like the govt going back to the SSIA schemes, which guarenteed the banks free money.

Its not really bailing out the builders as much as bailing out the banks. Siamese twins

Good article Mark. As for crediting the pin - nice though that would be, it’s not our primary objective.

It is bailing out the developers, while there is an argument for not allowing banks to go bust (wider repercussions etc.) there is no justifiable argument to save the developers.

By all means bailout the banks directly but there is no reason to recapitialise the banks via developers.

Sanity prevails

I don’t doubt this is part of the intention - but it is a monstrously inefficient way of doing it. This was one of the primary reasons the TARP in the US was denigrated so much. If you want to recapitalise someone, do it directly and get something back.

This is the line that I took from that article.

I’m afraid I won’t be adding to the compliments.

so the government are getting into the ‘securitization’ game? don’t they realise that the banks already got burned there? Why would a bank put a debt onto their balance sheet that they didn’t underwrite?

that bit just doesn’t make sense, how would the state (who are bailing out banks) hope to ‘transfer’ loans across?

I hope he isn’t making predictions on the return of the rmbs market. I’d suspect he’s thinking people will switch. Why banks would be in a position to offer cheaper rates than the state, only he can answer. Maybe by magic.

This guy is probably one of our “property experts”. There is no reason to value their comments beyond telling you the relative loveliness of one house over another. They don’t understand that property happened to be the asset class backing this particular credit bubble.

agreed - I’m not too pushed if he rips stuff off the pin just so long as the word is getting out there. I would be nice if he mentioned the pin but on the other hand if every single news article pushing this PoV were to mention “it says so over on the pin” then readers would start thinking “well who are these guys on the Pin anyway and how trustworthy are they?”. Simple repetition of the point over and over again in different papers with no backing references will probably convince people more of our argument than if they heard over and over that its coming from the Property Pin. It worked for the other guys! :nin If the papers have decided to run with this argument then I think we should be thanking our luck stars that sanity is starting to prevail :slight_smile:

John McManus in the Irish Times today pulls no punches in his opinion piece headlined “Home Choice Loans, another stupid State intervention”. He makes the point that:
“The home choice scheme has in effect put a limit on how far the Financial Regulator can roll back the lending practices of the banks - assuming that it is of a mind to do so.”.

irishtimes.com/newspaper/fin … 74389.html

While I agree that the message is the key thing.

I think letting lazy journos plagiarise the posts of others should be discouraged.

Hence, if anyone feels strongly enough, they should e-mail Marks Editor & express their displeasure !