More Banker Al Bashar(ing)

Posted by Mark on 25th May 2012
I was delighted to read over my Cheerios that according to De Montford University (Leicester Poly to most,) the banks will only lose £9bn as a \\"worst case.\\" Like a small child at Christmas I read on, but soon felt felt as disappointed as my five year old son was this December, when he realised that I hadn't bought him any "killing games" for the Wii.

I have three gargantuan issue with this load of old tosh:

i)  They have based the hypothetical refinancing on LTV's being available at 70%, I don't know what parralel universe Bill Maxtead lives in, but I wish he was our bank manager;

ii) The current LTV's are based upon the banks own figures, this is like relying on Mr Assad for accurate figures for civilian deaths in Homs; and

iii) The loss of £9bn is based upon all of the loans being refinanced, gleefully ignoring the fact that some of this old tripe wouldn't be credit worthy at Brighthouse.

I could go on, but you get the picture.....

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