House Prices Drop US/UK Housing Crash? Subprime Bubble

Infowars.com: Ron Paul: Bailout Unconstitutional, Special Interests Forced Bill Through Congress Texas Congressman Ron Paul has warned that the amended bailout legislation that passed Congress on Friday is not only far worse than the original bill but is also unconstitutional. “It’s amazing, you take a very very bad bill, appropriating $700 billion, you can’t get enough votes to pass it so you take it back out, you make it much worse and take it up to over $800 billion.” Paul commented. Watch Ron Paul’s reaction to the passage of the bailout: Earlier in the day Ron Paul had taken the floor in the House to express his opposition to the bailout, stating that it represents an evasion of the real problem and more of the same inflationary practices that have caused the crisis in the first instance.

Original post by planning4acrash

Telegraph: Financial crisis: Iceland’s dreams go up in smoke “The pension funds have now also agreed to help the Government by selling assets. It took a while, though, for the penny to drop. As recently as this spring, when questions were being asked about the economy, the country was in denial.”

Original post by quiet guy

BBC NEWS: Markets need morals, says Brown Gordon Brown has urged global markets to abide by a system of “morals”, including “responsible risk-taking” and a “work ethic”……………..Ha Ha Ha Ha Ha

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Original post by titaniccaptain

BBC NEWS: Stocks slide despite reassurances The UK’s top share index chalked up its biggest ever one-day points fall as Chancellor Alistair Darling attempted to reassure financial markets…………I wonder why

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Original post by titaniccaptain

mortgagesolutions: Kings convinces vendors to drop prices Estate agent Kings Group has recently undergone negotiations with many of its vendors to reduce asking prices, in an attempt to create more interest from applicants. Part of this initiative is to put new boards on properties with the vendor’s consent, showing that the price has recently been reduced - a move which the firm claims has been met with a degree of success.

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Original post by jack c

Press Association: PM to quiz Merkel on cash guarantee Gordon Brown will be speaking to Angela Merkel amid confusion over the extent of the German chancellor’s commitments to protect bank deposits.

Original post by whostolemyendowment

Guardian: Icelandic government battles to save the economy Iceland (population a mere 300,000) sees the government take over housing loans held by the banks and put them in a government housing fund and guarantee all of the domestic deposits in Icelandic savings accounts as their currency plunges and inflation rockets.

Original post by enuii

SOTT: Grand Theft Economics uh oh
so thats what happened
The credit derivatives markets will on Monday set the price tag for settling up to $500bn of contracts related to Fannie Mae and Freddie Mac, the US mortgage lenders whose seizure by the US government had the unexpected knock-on effect of triggering defaults on derivatives deals.
Reykjavik - Iceland has agreed legislation that gives the government wide-ranging authority over its banks, including the option to merge them or force them to declare bankruptcy, the country’s prime minister said on Monday.
EBay to cut 10 percent of Macdoughnuts jobs - or something similar
big read

Original post by malct

BBC: New car registrations fall by 21% September normally the most lucrative month on the garage forecourt sees private registrations fall 23% and business registrations plunge 37% the worst decline in new car and commercial vehicle registrations since 1991.

Original post by enuii

BBC News website: Lehman Bros head took home $300m The head of failed US investment bank Lehman Brothers has told Congress that he took home about $300m in compensation over the past eight years.

Original post by angonamo