Banking Panic - The Plan (Nearly There)

Banking Panic - The Plan (Prelude)
Banking Panic - The Plan (1)
Banking Panic - The Plan (2)
Banking Panic - The Plan (3)
Banking Panic - The Plan (4)
Banking Panic - The Plan (5)
Banking Panic - The Plan (6)
Banking Panic - The Plan (7)
Banking Panic - The Plan (8)
Banking Panic - The Plan (9)
Banking Panic - The Plan (10)
Banking Panic - The Plan (Arrival)
Banking Panic - The Plan (The Next Phase)
Banking Panic - The Plan (11)
Banking Panic - The Plan (12)
Banking Panic - The Plan (13)
Banking Panic - The Plan (Exit)
Banking Panic - The Plan (1st Encore)
Banking Panic - The Plan (2nd Encore)
Banking Panic - The Plan (3rd Encore)
Banking Panic - The Circus

The Foul Smelling Saga Continues to Get Worse...

It would seem that Northern Rock has not met with any difficulties. Business as usual. This does support a great deal about the loans business as a whole and the alleged 'bail out' by the private Bank of England.

1 ...with over £100 (sic) in assets... presumably this is £100million? An extremely careless lack of attention to the detail. And in a business that deals in finance. Amazing. It cannot be £100billion or there'd be no need to borrow £bns. Would there? The whole scenario looks very.... How does trading work? A company that has magically created a £100bn from nothing courtesy of the UK tax payer. And still doing business.

But see point 5 below

2 This Building Society (formed in 1965) was converted into a public limited company in October 1997. Based near Newcastle Upon Tyne, it is currently the UK’s fifth largest mortgage lender (with over £100 in assets)... there's that mistake.

Again!

No wonder Northern Rock is in trouble if it cannot detect even the smallest non-trivial detail. Perhaps it has found the 'error' as it's either been removed, corrected or rewritten. It's disappeared, anyway (09.03.08).

3 "Northern Rock has quickly become one of the best known names in personal finance..." it certainly has. A name never to be forgotten

 4 Some fascinating buzz words and terms in jargon (company info):

• restructuring
• maintain transparency
• reorganisation of its operations
• independent
• well-capitalised
• low cost and significantly lower risk mortgage and savings bank
• business stabilisation
• controlled reduction of current loan book
• modest growth in prime quality lending

5 This report dated 14th September 2007:

• "But experts and officials insist that Northern Rock, which has £113bn in assets, is not in danger of going bust..."

So why all the talk of £bns liability to the tax payer (14th February 2008)?

6 Poor credit history? CCJs, defaults, bankruptcy, Ivas, arrears or... The very start of the mess and around the circus still goes. There are dozens of further links and the odour continues to deteriorate.

• This series of articles has been terminated until (if ever) more certainty becomes clear. So far, it has descended into an illusory quagmire of debt dumped (from a very high place) upon, and underwritten by, the UQ (aka UK) taxpayer. And more debt, but without the taxpayer ever borrowing anything. The banking system cannot be seen to fail (as it has been doing for years). The so-called credit crunch is all the fault of borrowers. Nothing to do with the inundation of bank junk mail making loans so 'easy'. Many of the loan companies are doubtless subsidiaries of a (private) bank. Northern Rock appears to weave a tangled web. The attempt by the state to control its citizens continues relentlessly. Politicians continue to dump evermore restrictions on the long suffering people while at the same time feathering their own nests and all at our expense. Be mindful of the magician's trick being played to deflect attention. It's somewhere out of view. 'Call me Dave' Cameron's at it too. Laudable stuff, but Cameron stands to get around £5m pension if he makes it to the premiership. Being younger that Gordon Brown (£3.5m), the pension would be that much greater. Still pays to be a footballer since this small amount will probably be the 'salary' for playing' at football for a single week.

• Banks imposing unprecedented and swingeing charges on customers suggests very strongly that the banks new the fragility of the situation long ago and were attempting to make their customers bail them out. If that were the case then it would surely be dishonest.

Devil's Advocate

• 'Making' money is a dirty business and the line between legal and illegal becomes more indistinct. Cleaned money from dirty, sticky, tarry and quite disgusting crude oil is an illusion. Truth cannot be determined as the picture continues to deteriorate, but be aware that not just soft ground is underfoot. Hiding the truth becomes easier as the war of attrition escalates. When the peoples' genitalia are held in the grip of the establishment, serious unrest is predictable. The police and military will have a job yet. The determination to 'make' more money is endless. And hopeless. The long term aim for the 'wealth removers' has long been forgotten. It is simply 'making' money for the sake of it.

The monster continues to get bigger, but will dissolve in itself. Nothing will only ever be nothing and the game will go on. The possession of intelligence (intellectual) is all that is worth having. It cannot be taken away and is certainly not for sale.

Banking Panic - The Plan (Prelude)
Banking Panic - The Plan (1)
Banking Panic - The Plan (2)
Banking Panic - The Plan (3)
Banking Panic - The Plan (4)
Banking Panic - The Plan (5)
Banking Panic - The Plan (6)
Banking Panic - The Plan (7)
Banking Panic - The Plan (8)
Banking Panic - The Plan (9)
Banking Panic - The Plan (10)
Banking Panic - The Plan (Arrival)
Banking Panic - The Plan (The Next Phase)
Banking Panic - The Plan (11)
Banking Panic - The Plan (12)
Banking Panic - The Plan (13)
Banking Panic - The Plan (Exit)
Banking Panic - The Plan (1st Encore)
Banking Panic - The Plan (2nd Encore)
Banking Panic - The Plan (3rd Encore)
Banking Panic - The Circus