Godlike Productions - Conspiracy Forum
Users Online Now: 1,959 (Who's On?)Visitors Today: 151,472
Pageviews Today: 206,988Threads Today: 47Posts Today: 863
01:31 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

JP MORGAN losses set to cause UK HOUSING MARKET CRASH

 
The Scientist
Time flies but aeroplanes crash

User ID: 1201183
United Kingdom
05/20/2012 10:34 AM

Report Abusive Post
Report Copyright Violation
JP MORGAN losses set to cause UK HOUSING MARKET CRASH
The secretive operation behind the multi billion trading losses at JP Morgan has propped up pretty much the entire portfolio of new mortgages given to British homeowners since 2008.

The Chief Investment Office controls around $380 Billion (£240 Billion) of which roughly $100 Billion is in bonds and similar securities backed by British home loans, This means the banks holdings are bigger than the value of all the new mortgages granted to British households since the start of 2008 according to the figures from the Bank of England.

The investments have been so big that many bankers believe mortgages will become even more scarce - Hitting British house prices, if the banks trading operations are now curtailed.

The huge bond purchases would have greased the wheels of the financial system to allow British banks to keep lending.

The JP Morgan unit has been the single biggest buyer of Mortgage backed bonds sold by British banks, according to market sources, it has bought more than 90% of some of the bonds sold by Lloyds Banking Group for instance.



(The above is a Synopsis of story from todays Sunday Times Business Section)

Last Edited by The Scientist on 05/20/2012 11:21 AM
Anonymous Coward
User ID: 16363383
United States
05/20/2012 10:37 AM
Report Abusive Post
Report Copyright Violation
Re: JP MORGAN losses set to cause UK HOUSING MARKET CRASH
Oh but CNBC says Dimon can do no WRONG!!!!!they KISS HIS FRICKEN A$$!!!!!!!!!!!!!wall
humanitech
User ID: 16365321
United Kingdom
05/20/2012 10:40 AM
Report Abusive Post
Report Copyright Violation
Re: JP MORGAN losses set to cause UK HOUSING MARKET CRASH
Good.... it's time that house/property prices return to realistic value. The artifically inflated property boom was a crime against humanity...not that investors and beneficiaries ever noticed in the manufactured game of greed, profit and stupidity
The Scientist (OP)
Time flies but aeroplanes crash

User ID: 1201183
United Kingdom
05/20/2012 11:25 AM

Report Abusive Post
Report Copyright Violation
Re: JP MORGAN losses set to cause UK HOUSING MARKET CRASH
Its definitely a buyers market, I know a guy who is extremely well off, has a portfolio of 10 properties he rents out, 6 of which are mortgage free and he couldn't get a mortgage on a new property unless he remortgaged his own home and put down 50% cash.

The UK housing market is in dire trouble, this trouble brewing from the JP Morgan losses could really tip the whole market into a death spiral without intervention from the bank of England / Government.

Last Edited by The Scientist on 05/20/2012 11:27 AM

News