whaaa?! another way to funnel money into the banks

ei.sdraob · 2010-11-09 20:45:33

http://www.independent.ie/business/personal-finance/property-mortgages/hardhit-homeowners-may-park-part-of-loan-2412561.html oh noes not again :( 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…

09-11-2010 08:45PM

#1

ei.sdraob

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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.

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#2 09-11-2010 08:51PM

Inquitus

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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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