Brown's BUST boosts Britain's Mortgage Burden

Gordon Brown's BUST, eleven years in gestation, has now finally become obvious to Britain's brainwashed battalions of blinkered borrowers. The Daily Telegraph this morning, read here, reckons the average mortgage will now cost an extra five hundred pounds a year. The BBC gasping business editor and Brown biographer, Robert Peston, whose verbal delivery should ban him from every broadcast studio in the universe, splutters that on top of the billions being spent by central banks across the globe for a seven day rescue effort, Britain's extra and extreme mortgage difficulties, solely caused by none other than the present PM Gordon Brown, have required an extra input of forty billion pounds for three months by the Bank of England - imagine the shocks ahead for mortgage holders when that taxpayer funded lifeline expires! As one should treat anything reported on the Radio 4 Today programme with the utmost doubt and suspicion I can confirm that the reliable Forbes magazine confirms that fact, link here, quote: In addition, the Bank's long-term repo operations against extended collateral, including mortgage securities, will for a period be held weekly and enlarged. The first such operation will be held on Monday 29 September. It will be an auction for 40 billion pounds, for maturity to Thursday 15 January 2009,' the Bank of England said. The crisis across the Atlantic, where the despicable Brown now lurks, continues with Henry Paulson's rescue package still not agreed and Washington Mutual being seized by regulators and the main part passed to JP Morgan putting the latters stock onto a negative rating. The Dallas News, link, describes this as follows: Washington Mutual is by far the biggest bank failure in history, eclipsing the 1984 failure of Continental Illinois National Bank and Trust in Chicago, an event that presaged the savings and loan crisis. IndyMac Bank, which was seized by regulators in July, was a tenth the size of WaMu.