Comments on: Good Lord! http://timworstall.com/2007/11/27/good-lord/ It is all obvious or trivial except... Wed, 23 May 2012 15:34:19 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bob B http://timworstall.com/2007/11/27/good-lord/comment-page-1/#comment-3180 Bob B Tue, 27 Nov 2007 14:35:44 +0000 http://timworstall.com/2007/11/27/good-lord/#comment-3180 Try this on the extraordinary business model of Northern Rock: http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/26/ccrock126.xml "Northern Rock sales staff can sanction mortgage offers of more than five times earnings to customers with salaries of £100,000 or more. If the customer agrees to a five year fixed rate deal they can qualify for a loan worth six times their income, said mortgage broker London & Country." http://business.guardian.co.uk/markets/story/0,,2179625,00.html Try this on the extraordinary business model of Northern Rock:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/26/ccrock126.xml

“Northern Rock sales staff can sanction mortgage offers of more than five times earnings to customers with salaries of £100,000 or more. If the customer agrees to a five year fixed rate deal they can qualify for a loan worth six times their income, said mortgage broker London & Country.”
http://business.guardian.co.uk/markets/story/0,,2179625,00.html

]]> By: Kay Tie http://timworstall.com/2007/11/27/good-lord/comment-page-1/#comment-3173 Kay Tie Tue, 27 Nov 2007 12:01:55 +0000 http://timworstall.com/2007/11/27/good-lord/#comment-3173 I think it's more the "lend long at fixed interest rates" and "borrow short at variable rates". Why on earth would you lend out at low fixed rates just because right now that's what you are able to pay your depositors? I think it’s more the “lend long at fixed interest rates” and “borrow short at variable rates”. Why on earth would you lend out at low fixed rates just because right now that’s what you are able to pay your depositors?

]]> By: Bob B http://timworstall.com/2007/11/27/good-lord/comment-page-1/#comment-3169 Bob B Tue, 27 Nov 2007 11:42:21 +0000 http://timworstall.com/2007/11/27/good-lord/#comment-3169 "Tell me, are Guardian leaders written by the sociology graduates or something?" Are you sure that isn't illegal under recent or pending legislation on hate speech? Surely, Sociology must be classed as a religion by now. “Tell me, are Guardian leaders written by the sociology graduates or something?”

Are you sure that isn’t illegal under recent or pending legislation on hate speech? Surely, Sociology must be classed as a religion by now.

]]> By: Matthew http://timworstall.com/2007/11/27/good-lord/comment-page-1/#comment-3167 Matthew Tue, 27 Nov 2007 11:31:01 +0000 http://timworstall.com/2007/11/27/good-lord/#comment-3167 It really just needs an 'only' in it, as 'only borrow short and lend long'. It really just needs an ‘only’ in it, as ‘only borrow short and lend long’.

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