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whaaa?! another way to funnel money into the banks

  • 09-11-2010 09:45PM
    #1
    Closed Accounts Posts: 9,364 ✭✭✭


    http://www.independent.ie/business/personal-finance/property-mortgages/hardhit-homeowners-may-park-part-of-loan-2412561.html
    a radical plan set to be recommended to Finance Minister Brian Lenihan.
    oh noes not again :(
    Banks that take part in the scheme would be paid something like 10c a year for every €1 that was "parked" in this way.
    I see, pay the banks money we don't have and need to borrow at high interest, hmm where have I heard that one before...

    Yet another way to funnel money into the banks, I wonder how the markets will react once they get whiff of this, the timing is perfect.


Comments

  • Registered Users, Registered Users 2 Posts: 13,778 ✭✭✭✭Inquitus


    So the banks get 50k over 5 years on 100k parked, then they get to go back to normal mortgage service thereafter? Hell we should all have made bad loans, its a get rich quick scheme!


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