It’s a complicated isssue and one that is easily disgused because of this. However this fantastic blog makes it clearer than anyhting else I have read. The bailout money is not going to help make more loans ofr small buisness and consumers but to pay out counterparty risk (bets) that the banks took on and [...]
Oh did I forget to mention it’s in Detroit. There’s a pently out there for $1 too so always shop around for a bargin. You’d be doing the UK economy a favour as our banks own these now.
http://www.realestatebook.com/homes/Detroit-MI-USA/0-50000-price/3000-no-limit-sqft
http://www.prisonplanet.com/foreclosure-fallout-houses-go-for-a-1.html
http://www.realtor.com/realestateandhomes-search/Detroit_MI/price-na-1000/type-single-family-home/type-condo-townhome-row-home-co-op/type-multi-family-home
In a vain attempt to repay the $150bn AIG owes the US taxpayer, parts of the business are up for sale. Two problems, not many potential buyers have got any money; the ones that do are unlikely to want to buy up complex insurance business in the middle of a credit crunch.
Not surpising sales are [...]
