Banks in trouble, again!

Story link: Banks in trouble, again!

This is getting beyond a joke, as I can only guess who will be footing the bills to keep the banks trading!
If the banks decide to lend ridiculous mortgages to payers that simply can’t to afford to pay it back without the value of their property, then whos fault is that!?

Banks in trouble, again!

Britain’s banks face up to £70bn of losses on commercial property loans, enough to force some of them into a further round of taxpayer bail-outs.
Investment bank Close Brothers forecasts massive writedowns in light of its forecast 50pc-60pc slump in commercial property values by the end of 2009 compared to the market’s 2007 peak. Most property experts believe such values have already dropped 30pc this year.