Tuesday, 15 April 2008
Spend to save
"Underpinning those borrowers in serious and short-term financial difficulty to help minimize the level of repossessions is a clear spend-to-save policy."
Stephen Crawshaw, Chairman of the Council of Mortgage Lenders.
Here we have yet another example of self interest dressed up as social concern. Crawshaw and the rest of his banker mates want some of our money. He thinks he can obscure his true intentions by hiding behind the poor distressed homeowner on the edge of repossession.
Hold on a second, something is not right here. Who starts the repossession process? Could it be a mortgage lender?
Crawshaw is asking the rest of us to pay up to protect home owners. At the same time, members of his organization are spreading the repossession notices around the country.
Does hypocrisy have no limits?