Results tagged “mortgages” from Birmingham Post - Lifestyle Blog
I don't like weeks like these - weeks when investment banks have to be rescued by Governments, stocks are in free fall and pensioners queue outside their former building societies to ask if their savings are safe.
I don't like it because I just don't get it. It is, apparently, the end of global capitalism as we know it. (Is this such a bad thing?) It is, we are told, a financial black hole into which all our mortgages, pensions and savings will be sucked.
It is cataclysmic. It will affect us all. And yet I can't even get to first base in understanding it.
I understand mortgages, or at least I thought I did. That was before I knew there were people who packaged them up and sold the debt on to somebody else.



















