Alan Shearer Is Not the Messiah, He's a Very Naught Boy.....

Posted by Mark on 27th May 2009
"Newcastle United needs to be filled with people who love this club”, so spoke, Alan Shrearer, yesterday.

For any right minded follower of football, and at this stage I must declare an interest as a life long Sunderland fan, this is plainly the last thing that The Geordie Nation need.  Newcastle have already been through more messiahs in the last twelve months than the average middle eastern suicide cult and look where it has got them.

What has this got to do with property and finance? I hear you ask.

Adimittedly not a lot, however what I think it does is illustrate how not to turn around a hopeless situation, such as many of the defaulting loans banks now find themselves with.  What is needed is a dispassionate, un-loving hand of an outsider, who is able to take clinical or even cynical view in how to make the best of a lost cause.

To resource their workout teams, many banks have co-opted their origination bankers en masse, who, like Mary Poppins, might actually be a little too close to the problem to offer a subjective solution. 

I have given this all of five minutes deliberation and have come up with a solution that could remove the current impasse and keep all of Morgan and my lovely banker friends in work:

The banks all swap loan books with each other.

This could executed in a number of ways; bankers in Canary Wharf could move to the building immediatley to the right, for example.

This would facilitate closure on their current pain and allow them to get tucked into sorting out problems that were, genuinely, not of their own making.  


By the way, I also appreciate that as a Sunderland supporter, I do not qualify as a "right minded follower of football."

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