The World’s in Financial Turmoil
The world in general has certainly experienced financial turmoil during the past 2 years.
It has affected those with pensions and mortgages most and of course those of you who found yourselves without a job.
The main criticisms have been levelled at the gross incompetence of our banks and those who have been paid so highly to regulate them.
Meet Scrooge
Yet just recently we all witnessed the complete generosity of some of the world after the horrific earthquake hit Haiti.
I did listen to many animated conversations about charity beginning at home and wasn’t surprised to learn that China has contributed only $1 million although we all know that China is slowly and quietly securing a foothold in the poorest country in the world and has been occupied in the acquisition of land there for some time.
How do you feel about Government and money, about banks, our economy and the future of both the UK and the US as both countries struggle in different ways to rid themselves of the recent economic curse?
Does anyone have any idea where we’re going as a nation? What about the US?
The real Culprits have escaped
The fact that as time moves on, our population are concentrating so hard on surviving that those who initially caused this chaos have walked away almost unscathed.
Both the British and US Governments already own a sizeable percentage of their largest banks yet only the Americans have the courage to try to ensure that any similar future greed fuelled actions by the Banksters will never again affect so many.
I wrote a number of articles during the latter part of 2008 and would like to kick off by incurring the wrath of those whose homes have been seriously devalued by this recession.
During 2007 there were almost 7,000 different mortgages products on offer by banks, building societies and loan companies.
They later claimed during the tens of thousands of repossession proceedings that each home owner had signed that they had read and understood their contract.
I wonder how many Judges questioned this statement or accepted if the Client hadn’t understood they shouldn’t have signed.
If the Judges accepted the latter, they obviously had little knowledge about human nature.
Many couples, in order to have a home of their own will sign almost anything – do you agree?
Then I started thinking about a solution that would avoid so much heartache and stress ever again.
A National Mortgage Plan
I thought: What if banks and building societies were only allowed to sell one affordable Mortgage Product that everyone understood with compulsory built in insurance to cover accident, sickness and unemployment – immaterial of health at the time?
Any unfortunate sole applicant if terminally ill would obviously have to be excluded.
In addition, what would we sacrifice to be confident that our children and grandchildren would be able to afford to get onto the property ladder in 2040?
