Mortgage Madness (2/3): BBC2 - 29/10/2003
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Uploaded by EverymanNoSix on May 4, 2010
Original broadcast (UK): Wednesday 29 October 2003, 7.30pm, BBC TWO.
[09:01 - 18:15 of 00:27:00]
Part 2
00:00 - 03:50 : Liar Loans #2-9 - Undercover at estate agents Townends, Bairstow Eves Countrywide, etc.
03:30 - 04:22 : The "self certified" (liar loan) mortgage fraud exposed in October 2003.
04:22 - 05:00 : Dr Desmond Fitzgerald highlights the strategy and motivations of the unscrupulous money lenders.
05:00 - 07:07 : Dr Desmond Fitzgerald explains the effect of widespread mortgage fraud.
07:07 - 08:25 : Revelation that mortgage fraud is widespread across the UK.
08:25 - 09:14 : Revelation that the money lenders are encouraging "self certified" loans. [Video suitably corrupt.]
"BBC TWO's The Money Programme has revealed a huge mortgage fraud with brokers from some of Britain's biggest estate agents and financial advice groups advising customers to break the law and lie about their incomes to get massively bigger mortgages.
And it shows how the illicit cash raised by this method has been pouring into the housing market, boosting prices and leaving many people risking financial ruin.
...
The Money Programme found that during the investigation brokers advised the undercover researchers to lie on applications for self-certified mortgages from, among others, The Bank of Scotland, The Mortgage Business and Birmingham Midshires.
All three are part of the Halifax Bank of Scotland Group Britain's biggest mortgage lender.
...
The Money Programme requested an interview with HBOS Chief Executive James Crosby but he declined to be interviewed."
James Crosby was knighted for services to the finance industry in June 2006. RBS bank boss Fred Goodwin was knighted in June 2004.
Source: http://www.bbc.co.uk/pressoffice/pressreleases/stories/2003/10_october/29/mon...
Video source: http://video.google.co.uk/videoplay?docid=-8482518243122067675&hl=en-GB#
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@helimeal Hi there,Gordon Brown knows only too well what was going on.
Its very strange that this Mortgage madness happened in USA ,Britain, Ireland and other European countries at the same time after the Twin Towers fell.It maybe a deliberate way to bankrupt the world to bring about the NWO that Gordon Brown and Old George Bush mentioned.
Cheers!
Corsaircid 1 year ago
Obviously Gordon Brown was too busy watching Emerdale when this was on.
helimeal 1 year ago