Saturday 22 August 2009

Black plane and the yellow submarine.



Black plane and the yellow submarine. Maybe it’s good time to again start thinking about terms of a partnership. Where do I want a certain work relationship to go? To set-up the some goals on this front. I am in a phase of life when I want to get things done, not just think about getting things done. Wake up with the George theme. Proposed by the famous Co called “who” utility Ltd. Speaking in Russian, about Georgia, in hairdresser room, by the people of Prince Fillip title and from the high of clean 5 off-shores. (see from 08:14:16 email 154 million dollars spam ‘CALL MR. DAVID WOOD (CONFIDENTIAL)). I stop to react , knowing well that the daughter Chelsea of Clintons (see photo) who was fancying with me yesterday, - make the important sign for b**** Barroso to react. Not the first time writing about who he is – and lot of people start to die. Its him was in the same TAP plane from Porto to Lisbon. And I regard how the three workers died from suffocation because of the “… de terra caiu…” at the same evening in Portela Airport. One thing though, are bothering me. That someone is hiding something from me. This person in question (i.e. Kutchma-UK advert-Sampaio/Almeida Santos) may have a charitable reason for keeping the information back. If Brotherhood of City don’t have a place for me (how can they if I don’t have a dog?)– this don’t mean that I should persuade my self that I’ll be better existing in total ignorance. (i.e. воронок full of лягавых). I mean the my Forex Secrets Seminar, that ONE in THREE years meeting to do the instant fortune, isolation from nation…, cocaine…, and english… to deny ANY access to break away from this ongoing piggy faces from Brussels and Strasburg prison. Who else if not this bunch of my Portland 450 cement killed the “…mai, pai e duas filhas…”? The Barroso don’t have a children. Well, not exactly. The Cecil and the Le Monde insist that he had one a very powerful, like the son of Medvedev, Almeida Santos and You щенка son. Which like the Kutchma, Sampaio, Prince Charles the II – have nothing to do with the assinatura of the destiny of the Saino-Shushenskaya GES. What can I say?-Me too.

Chelsea Building Society hit by £41m mortgage fraud. August 21 2009 19:49. Chelsea Building Society has become the latest lender to be hit by mortgage fraud, taking a £41m charge, which pushed the mutual into a first-half loss of £26m. The Chelsea, which recently lost its chief executive and was downgraded by ratings agency Moody’s, said fraudulent buy-to-let loans were made between 2006 and 2008 on hundreds of properties, including many new-build homes in northern cities such as Manchester and Leeds. Typically, the frauds involved third-party surveyors, solicitors and other intermediaries artificially inflating the value of the properties. The society said the “vast majority relate to professional collusion” and could have involved intermediaries taking “unofficial fees” from developers. Stuart Bernau, Chelsea’s chairman and interim chief executive, said that the £41m provision was the worst case scenario. “We’re not proud of this, but virtually anyone who has been very active in buy-to-let lending will have this problem,” he said. The admission by Chelsea, the UK’s fifth largest building society, comes just days after Bradford and Bingley, the nationalised buy-to-let lender, said it had set aside an extra £100m for potential losses from mortgage fraud. Since the start of last year, B&B has set aside £270.8m relating to losses from “hundreds of cases” of potentially fraudulent mortgage applications or professional negligence on property valuations. At the height of the housing market boom, fraud took off on the back of almost unlimited availability of cheap mortgage finance. There was also a boom in new build properties, especially city centre flats, and growth in new forms of finance such as buy-to-let loans which let people become small-scale property investors. Clive Whitfield-Jones, head of mortgage recovery services at law firm Jeffrey Green Russell, pointed out in a recent paper on mortgage fraud that homes were over-valued in a number of ways: “These ways might be innocent, negligent or fraudulent. Lenders and, in particular, buy-to-let lenders, have a real concern about many valuations of new build properties [especially flats] prepared during the house price boom.” Chelsea has 35 per cent of its loan book in buy-to-let and self-certificated mortgages, while 80 per cent of its total lending has previously been through mortgage brokers rather than through its branch network. Mr Bernau said Chelsea stopped new buy-to-let and other riskier lending and that the mortgage fraud equated to only 1.5 per cent of its £2.5bn total loans to residential landlords. In the past 12 months, a whole raft of mutuals have run into difficulty, including Cheshire and Derbyshire, which had to be rescued by Nationwide, and Dunfermline, which saw some loans acquired by Nationwide, with the taxpayer retaining its toxic assets. Chelsea has been under pressure for months after being downgraded to Baa3 by Moody’s – just one notch above junk status. Its lower rating has made it tougher for the mutual to attract institutional deposits from local authorities. Mr Bernau is undertaking a “full review of strategy”, including considering whether to seek a merger with another society or strengthen the mutual’s capital base. He said he hoped the society would be able to have a “strong independent future”, adding that he had not spoken about a merger to rival Stroud&Swindon – whose chief executive also resigned suddenly this month. Chelsea, which lost £29m in 2008 following the collapse of the Icelandic banks, also reported it has sold the deposits it had with Kaupthing Singer & Friedlander for a £9m gain compared with its year-end provision.

Jet Republic suspende actividade em Portugal. A Jet Republic acaba de anunciar a suspensão das suas actividades em Portugal, justificando esta decisão com as "dificuldades significativas que o sector da aviação enfrenta e, mais especificamente, o mercado dos jactos privados". 17:14 Quinta-feira, 20 de Ago de 2009. Na sequência do cancelamento do contrato da Bombardier, para o fornecimento de 110 aviões Learjet 60 XR, a companhia de jactos executivos Jet Republic decidiu suspender as actividades da sua subsidiária em Portugal por tempo indeterminado. "Até à data, estávamos muito confiantes nos nossos objectivos, mas o mercado de activos financeiros na aviação 'secou' completamente, dificultando aos nossos potenciais clientes a obtenção de crédito para a co-propriedade de jactos", explicou um porta-voz da empresa. O mesmo responsável revelou que a Jet Republic optou por "preservar os seus recursos financeiros e está a rever as suas opções. A nossa holding continua totalmente operacional e trabalhará de perto com os nossos accionistas para assegurar que os direitos dos nossos actuais clientes, empregados e fornecedores serão protegidos na medida do possível".

No comments: