Stop the Credit Crunch

To Gordon Brown Prime Minister From UK Mortgage Advisers Dear Prime Minister The UK 2008, your first full year as Prime Minister. We have seen increased bankruptcies, increased repossessions, increased borrowing costs, lenders running out of money, our mortgage industry in crisis, homes lost, lives ruined. This credit crunch is not our fault, we did not cause it and although we would solve it if we could the truth is we can\'t. What we can do though is act together, unite in sending a strong message to you and make sure we can look back and say we did everything possible. Prime Minister, you were Chancellor for over 10 years and delivered us a stable economy in which we could manage and grow our businesses and add to the economy. Now you are Prime Minister what on earth is going on For the sake of our businesses, the people we employ and the millions of British voters that our industry serves. PLEASE PRIME MINISTER SORT IT OUT! We know it is a tough one, we know it is a global problem, we don\'t blame you, but that is why you were elected, to deal with the big problems. Decisive action is being taken by governments and banks all around the world. You are Prime Minister of Great Britain please act now before it is too late. THE CREDIT CRUNCH - PLEASE PRIME MINISTER SORT IT OUT

Sponsor

David Burrows Managing Director of Secured Loan Services Ltd would like to ensure that the Prime Minister is aware of the strength of feeling within the Mortgage and Secured Loan Broking Industry and would therefore welcome the support of all Advisers across the UK in sending a clear message to Gordon Brown. Please add your name to our growing list and please forward this petition to other Mortgage Advisers that you know. The more names we get the stronger the message.

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    Sylvia, Brazil

    2 years ago Comments: This guy is too scary for words. He came in on such a cloud, a white knight whom poelpe thought would add value to Umno, temper the Youth wing, make it less race-cented and more knowledge based.Instead in so short a time, he has become as jingoistic as the rest. It calls into question his entire moral standing, that he is prepared to play to the gallery to be popular and gain support. It is such a cheap way of going to the top and I don't think we should let jackals like this their way. I felt very, very uncomfortable with the way Tun Mahathir attcked his successor but I am grateful to him for opening a debate on the dangerous characters like Khairy and Kalimulah swarming around our Prime Minister. Tun Mahathir opened our eyes to these hypocrites and manipulators.Take Kalimullah - those articles he used to write in his paper, so full of empathy for the common man, the simple things in life, the road we have travelled. You would think he is a good, humble and upright man. Instead, he has turned out to be a fake, a masquerader, someone out to make riches for himself at the expense of the rakyat. And the lies that he has been exposed for telling his readers.And now Khairy, showing his true colours. Suhaimi Baba should use him in her next vampire movie. He is a first class actor who is primed for blood sucker role. Move aside Maya Karin!
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    Lucky, Russian Federation

    2 years ago Comments: this month. "I didn't say anything for two years. I was quiet. I obresved his promises. I had high expectations. I expected his view to be different from me, but I don't see the government doing what it promises to do."The former prime minister's impolitic comments may prompt investors to avoid one of Asia's more underappreciated economies. In recent years, most of the surprises in Asian markets came not from reports on growth or inflation, but politics. Asia has seen all too many market-shaking spats, scandals, disputed elections and impeachment efforts.And so Mahathir's rebukes of the prime minister are unsettling Malaysia's markets, too. "It seems now to be having some effect on a domestic economy which is already slowing," Gerald Ambrose, managing director of Aberdeen Asset Management's Malaysian business, said in an interview in Kuala Lumpur.Record oil prices are weighing on Malaysia's $131 billion economy, slamming consumer and business confidence. Add to that a slowing U.S. economy and concern about the nation's ability to compete with Asia's upstarts. Malaysia could be too affluent to outperform China; too underdeveloped to join the ranks of Japan or South Korea. It also has a public relations weakness.That became clear in interviews with investors in the United States and Europe over the last couple of months. There was, of course, huge interest in China and India. Yet in cities like London, New York and Stockholm, I found great interest in economies such as Thailand and Taiwan. In Chicago, Paris and Lisbon, folks wanted to talk about Korea, Singapore and Vietnam. In Brussels, San Francisco and Washington, it was Indonesia and Japan.Oddly, Malaysia didn't come up unless I mentioned it first. Given its rich resources, technology industries and unique status as a moderate, predominantly Muslim nation, you'd think Malaysia would be a bigger blip on investors' radar screens. It's not, and politics bear some of the blame.In his 22 years in power, Mahathir morphed a tropical backwater into an Asian tiger. While it doesn't excuse him for bizarrely blaming Jews for Malaysia's troubles in the late 1990s, Mahathir had his economic successes. Yet Malaysia has been too slow to boost entrepreneurship and move beyond manufacturing and resource-based industries.Whether it's wounded pride, an attempt to look out for associates hoping to profit from his megaprojects, or anger at the release from prison of his former rival, Anwar Ibrahim, Mahathir is back with a vengeance.Mahathir has a point on at least one thing: Abdullah can be painfully indecisive. Many Malaysians are disappointed by how timidly Abdullah has attacked corruption and policies giving preferential treatment to the ethnic Malay majority. Abdullah should also go further to convince Malaysians that his family hasn't benefited from government contracts, as Mahathir has alleged.Many of Mahathir's other protests are weak, at best, relating to megaprojects that seem more about pride than necessity. If the former prime minister is upset that Abdullah is unilaterally scrapping his initiatives, he has himself to blame. It was Mahathir who masterminded the centralization of power that Abdullah wields. In Malaysia, for example, one man acts as both prime minister and finance minister. It's an awkward arrangement that should be reconsidered.Even if Mahathir's concerns are legitimate - and one certainly meets businesspeople who share them - he needs to learn to bite his tongue for the good of Malaysia's economy."It might be difficult to swallow at first, but for the sake of keeping his dignity intact and sparing us unnecessary embarrassment, he should disabuse himself quickly of any notion he might continue to harbor about his indispensability to the Malaysian body politic," Tunku Abdul Aziz, a former head of Transparency International Malaysia, wrote in the New Straits Times on Wednesday. Mahathir must learn to "eat humble pie once out of office," he said.Mahathir is anything but a spent power. He still has charisma to spare, and retains a clear vision of where Malaysia should be in 2010, 2020 and beyond.Yet along with tarnishing his legacy, his tirades could unnerve investors and dent the government's credibility abroad.Fair or not, Malaysia still has a lot of work to do on its public relations. The economy deserves more attention from international investors than it receives. It won't get much - at least not the kind it wants - with its present and former leaders trading barbs.
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    Malerie, Russian Federation

    2 years ago Comments: Gee willkiers, that's such a great post!
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