Monty’s Mortgage Blog

Tag Archives: Lenders

Ode To Lloyds Banking Group

In committing to doing a blog several times a week, the biggest worry is how the hell am I going to find something to write about each time? Since I started the blog a few months before the credit crunch I needn’t have worried, events have been nothing short of sensational and yesterday’s announcement from the Lloyds Banking Group marks another historic landmark.

It is incredibly unfortunate that it has come to this, and great names such as C&G, Abbey, Alliance & Leicester, and Bradford & Bingley disappearing from our high streets is sad to see.

Posted in Credit Crunch, Mortgage Broker, Mortgage Finance, Mortgages, The Economy | Also tagged , | Leave a comment

Bad Bank, Naughty Bank, In Your Bed!

I heard the news today, (oh boy), that the Government are planning to sell off Northern Rock by the end of the year after splitting it up. One of these parts would stay with the Government and would be, in essence, a “bad bank”. I understand further that head-hunters were out looking to find someone to run this bad bank, which got me thinking.

Question. How do you run a “bad bank”? Oh, and also, who would be best to run a “bad bank”?

Presumably it can’t be a hard job running a bad bank. At the end of the year you go for your annual revue with Gordon / Darling:-

Posted in Credit Crunch, Mortgage Finance, Property Market, The Economy | Also tagged , , , | Leave a comment