I used to do a regular round up of links that I found interesting. However, I dropped it when I was a little pressed for time. Anyway, I am going to give it another go.
A.I.G., Where Taxpayers’ Dollars Go to Die
"When A.I.G. couldn’t meet the wave of obligations it owed on the swaps last fall as Wall Street went into a tailspin, the Federal Reserve stepped in with an $85 billion loan to keep the hobbled insurer from going bankrupt; over all, the government has pledged a total of $160 billion to A.I.G. to help it meet its obligations and restructure operations. So is A.I.G. the taxpayer gift that keeps on taking? Sure looks that way."
Lower Than A Letting Agent
Renter girl hits out;
"There is nothing lower than a letting agent. Traffic wardens, bankers, slugs, and tax inspectors all have their detractors, but letting agents are special."
Actually, I never much cared for slugs; but at least a dash of salt handles them.
Goldman is Dirty, But We All Knew That
Financial Ninji takes a look at the GS share price.
Long term results
Stumbling and Mumbling takes on Gordon Brown and his desire to “end the short term bonus culture, building rewards on long term results.”
Obama's economic saviour
People are queueing up to attack US Treasury secretary - Tim Geithner.
The Last Days of the Oligarchs?
The bad guys in Russia are in trouble. Alisher B. Usmanov, an iron and steel tycoon, sums up the problem for Russian Oligarchs:
“Today’s crisis is merciless for raw-materials producers. It will take back everything we accumulated yesterday.”
But what does this mean for London house prices?
Credit Crushed Ugandan Celebs
Its tough everywhere. But can anyone explain the background to this story?
"Fresh from UK, Gagamel singer should be regretting why he left his wife to come to Uganda and blow the few dollars with new catch Flavia Oketcho. Having drunk all the Bond 7 whisky in town, they are now broke and what is left to them is to hold each other every time they go out. He has even failed to secure a return ticket to the UK."
Celebs losing £80K a week on their Dubai mansions
Dubai? I just didn't get it. Why would anyone want to move there?
'Get your foot on the ladder now' is the advice of property expert
Property rampers never let it go. From the Irish Independent.
"If you're a first-time buyer, now is the perfect time to get on the ladder, advises property expert Donna Kennedy. "
3 comments:
Forty years ago we went to the letting agent when we realised that the landlord had rewired so that we were paying for her elctricity. The agent sorted it: he made her pay the electricity bill for the whole year, so we'd had our year's worth free. Mind you, that was in a city of Presbyterian rectitude.
Of property rampers.
Now IS a good time to first-time buy if the following are adhered to:
- buy at discount at auction (usual precautions of course)
- buy a house you are happy to make a home
- buy only if reasonably sure of your financial security and borrow within reasonable lending multiples
- buy long term without concern to further falls in the market (if you can't take the hit don't do it)
These caveats are hardly likely to presage another boom though. That all depends on the City bouncing back...
... in fact - feckit ! Scrub the idea. Emigrate instead.
Those people trying to talk the housing market don't seem to realise the money to support house price rises isn't there anymore and won't be there again for a very long time. The reason is that money is leaving the UK at a fast rate:
http://www.belfasttelegraph.co.uk/business/business-news/foreign-investors-pull-1-trillion-out-of-the-city-14217287.html
I think those people who are made bankrupt due to this crisis might not get back on the ladder for a very long time. Those who saved for the last 10 years will be big beneficiaries.
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