ILP going the way of Northern Rock?

[The Earl of Desmond]

Wasn't N Rock caused by thick old people not knowing the difference between liquidity and cash flow? And N R being too scared to explain it in case that made them panic more. There was no need at all for N R to have happened if NR management, the Bank of England and Gordon Brown hadn't reacted like headless chickens.

Are we forever doomed to repeat the exact same mistakes as the UK/US - do we ever learn. Hmm

[Rich OC]

**EO withdraws his money from ILP tomorrow**

Glass half full, glass half full....

[cyberianpan]

There is no news here, just a vague start to the thread that is mysteriously alluring by virtue of quoting no source. Then it transpires that the source is The Phoenix...

More of this tinfoil hat sky is falling nonsense.




Can we please have a bullsh1tter feauture on p.ie ?


cYp

[Geekzilla]

Has that not all changed since we were "off-shored"?

First Amendment and all that?

The First Amendment applies to the United States - most contributors to this debate are probably not based there are I'm not sure where the servers are based.

In any case, the First Amendment is probably irrelevant.

[patslatt]

Last week I heard that a long standing mortgage customer of one of the medium sized retail financial institutions who owns two rental properties for a good number of years was denied a mortgage application despite her fully paid up record on the existing mortgages.The closing date on the purchase was looming,threatening her very big downpayment. About six weeks ago,a small developer in the rural Leinster told me that the same bank was lender of last resort for any and all mortgage loans turned down by other financial institutions.

The questions arise whether this institution is desperately preserving its liquidity,or has just reached a prudent limit on mortgage loans as a percent of assets?

The happy ending to this story: someone heard on the grapevine that she needed a mortgage and rushed to supply it.