The government may have to give a taxpayer guarantee to billions of pounds of mortgage market bonds.
The recommendation is part of a report commissioned by the Treasury that looks at possible ways to revive the UK mortgage market.
But such a move would be controversial and could be seen as the partial nationalisation of mortgage finance.
Great. The whole pyramid scheme is falling apart, which sure is painful, but at least will see us back to a realistic market, but the crooks want to try and keep it going. How? Back to the old school of robbing the hard working, to fund their rancid scheme.
Seriously, Stalin didn't even have the balls to try this. They are trying to make the State all important in peoples lives, so they can then justify their authority.
What right has any government got to take my money and lend it out? If I want that to happen, I will do that myself and will have the choice of a number of mechanisms to lend that money out. If I don't then TOUGH, I don't owe anyone that right and the same applies in the other direction.
Everything the government gets involved in, gets ruined. The reasons for that are
1) The foundations are built on stealing. Anything that starts off like that is doomed to fail.
2) It distorts the market. Pumping stolen funds into a failing system might make it survive a bit long, but it will have nasty side effects and will fail anyway in the end.
3) The stolen money could have been left in the hard working peoples hands. They would have put it to work far more efficiently than any government could. They will also encourage private enterprise to give better deals and will be more careful with it, as it will effect them badly if they don't and no one else.
4) The effect that really is beginning to bite on this country now, is that people lose all self respect and thus respect for others. They are encouraged to rely on the government and a whole subculture grows. Stuff going to work, the government will look after me. It isn't worth working anyway after tax. Human life becomes cheap and thus crime goes up too.
The last thing this country needs is the government shifting more responsibilities into its own corrupt and inefficient claws.