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By Patrick Omari

 The U.S House of Representatives rejected President Bush’s 700 billion dollar rescue bid aimed at bailing out Wall Street (though they couldn’t show this sense when their intelligent leader decided war was needed). With Wall Street’s Dow Jones index taking its biggest one-day points fall in history after the deal was denied, European share indexes became immediately volatile in the Tuesday trading with huge declines hitting Asian stocks.

In the U.K the chameleonic David Cameron took his eyes off the door to Number 10 and announced that the Conservatives will work with the current government to tackle the financial crisis, taking the approach that we’re all in this all together. Whilst partisan politics are arguably detrimental to our progression as a civilisation, and the governments of the World should be handed a large chunk of the blame for the current economical down turn, a large part should be reserved for the media.

It has become increasingly impossible over recent months to turn on the television, fire up the internet, pick up a paper of even flick through the trashiest of gossip-rag magazines that pollute the racks of news agents, without getting a sinking feeling in the stomach and being told that it’s the end of the world in terms of economy. That we, as a nation, a world, a people all are heading into the gaping jaws of the Great Depression Mark 2.

This, surely, is the definition of scare mongering. Playing on the fears of the Everyman that rent will be a bit harder to find and food more expensive in order to push their paper or sell advertising space on their website. An approach exemplified by the Times of London who ran a stunning black and white shot of London’s financial district amongst the clouds that surround it’s peaks with a headline along akin to ‘Fear Stalks the Banks.”

People hold the financial aspect of their lives in high concern, a ridiculous amount of adverts on television are dedicated to offering higher rates of savings, loans and deals for their money. It is, therefore, sickening to glance at the news and see a trusted media outlet, funded by public licence fees, proclaim that yet more economical doom is looming. Especially when said peddler of news puts this information right beside news that Eastenders has cleaned up at the Soap Awards.

More and more, media is treating the economical slowdown as entertainment. The problem is that they employ the same fear-inducing tactics as the Americans do whenever something anywhere in the world happens and they increase their terror alert to beige. The news media has become a changed beast since the tragic events of September 11th, every little detail is jumped upon incase it could be the next big thing to have such an impact and either a certain network won’t receive coverage rewards or there is some way in which over-reporting could solve the problem. Or, even less-likely, the American audience isn’t scared enough. Of everything.

Just look at the state of things in America at present. There’s a pretty big blip in their economy (good thing they’re not spending millions upon millions of much needed dollars on a military operation) so they do the right thing and look to fix it. Only, this isn’t news enough, let’s have one of the word media’s biggest circuses interrupted and send one of the Presidential candidates back. Not because he’s losing, mind. Of course, to the media, this is gold! This must mean the End of the World is nigh!

Though, on a strictly speculative note, should McCain have any influence on this? Surely if he gets his way and decides to “bomb bomb bomb, bomb bomb Iran” won’t that be more detrimental to the world’s economy than any mortgage lender’s collapse?

Big institutions will often fail due to poor planning (sub-prime mortgages should never have been approved, where was the foresight?), it’s happened throughout history and will continue to do so. For every great business decision that builds an empire there will be another that will cause one to crumble. Nothing is set in stone and the economy works like an elastic band, constantly stretching and snapping back but continual in this process as it always recovers. Until now, how can economies be expected to recover if people are too scared to spend thanks to an over zealous media?

Sure, oil prices will rise. It’s one of life’s little guarantees, especially when you pump millions into a war effort that manages to increase them accordingly. Just don’t act surprised when the knock on effect is that food prices go up. Of course, it would be easy to point out that if governments really want to live up to election promises of reducing costs they should stop creating such a turbulent and, therefore, expensive world.

That all-hype-all-the-time media is a funny thing though as, like a common cold or fatal disease, it’s infectious and has spread to pretty much every news outlet across the globe. Yes, media has a duty to report the facts but do not create news in doing so. The media is guilty of creating an environment of fear where people are too scared to spend money on even their essentials and thus save the economy.

Patrick is an expert travel researcher and writer currently researching Manchester Airport Parking, Glasgow Airport Hotels and Glasgow Airport Parking

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 We have some definite things in our lives that we suppose to be the most significant such as job security. Having our work security we get a possibility to achieve the American Dream. The American Dream seems to be pictured as purchasing apartments and a shiny new automobile. We also understand that the American dream gives us the ability to move each ten years or to purchase more than 1 home. These dream homes could be situated in California and one house could be situated in either the South of France or in Australia. We select such locations of our fancy houses because those locations have some body of water near each one of them. Beautiful shores and gulfs that are the elements of bodies of water present to California, France and Australia their water surrounding. The fact that California, France, and Australia are all places that have plenty of water surrounding them is great, because since they are all circumscribed by amazing blue water and sand will seem to get these locations to be called by both residents and guests alike via auto or plane. You have to know that California dwellers love to have their walks and drives on the shores at every time of the year and enjoy their day of satisfaction and game. During the day, California citizens can go to the shore to swim in the bay, get a tan and surf. And after the end of the day they could take their brand new autos and go to a night picnic with a fried poultry, cream blanketed strawberry, champagne and star gazing. There occur the games at the seashores and the love affairs at the gulfs, because the gulfs are calm and draw lovers at their embraces. And in the most of situations persons might not permit themselves to get all those pretty new cars and evening romances without a Baytown new auto loan. Frankly speaking almost everybody, who dwells near a gulf, has an auto credit for a first car and dreams to get the second one. It is a common case for them to go to the closest bank and apply for a Baytown car lending. In fact there exist 5 greatest ways to receive an auto loan party private.

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AFB Calls For New Secured Loans Laws
By Abbi Rouse

 Following the publication of new white paper on the future of the future regulation of the secured loans industry, the Association of Finance Brokers (AFB) has called upon intermediaries to give their thoughts.

It is calling for responses on a number of secured loans regulation issues by September 20th. Among the proposals included in the paper is the option to remain under regulatory control of the Office of Fair Trading and the Consumer Credit Act, or to concede all regulatory powers to the Financial Services Authority (FSA). The group noted that - against the backdrop of the implementation of the Europe-wide Consumer Credit Directive - it is inevitable that the regulatory landscape of the secured loans industry will undergo substantial transformation.

The AFB was established to promote the views of secured loans brokers operating in the UK and focuses on lobbying delegates in the Treasury, the Office of Fair Trading, as well as the FSA, the government and EU policymakers. In doing so, it aims to promote the interests of the industry in a constructive way that connects regulators and lawmakers with the “front line” of the secured loans market.

Commenting on the new proposals, Robert Sinclair, director of the AFB, urged intermediaries to act in a progressive manner to ensure that new regulatory instruments protect the interest of brokers, loan providers and the consumer. He added that the public need to be put at the heart of any new legislation governing the secured loans market.

“Consumers and consumer groups are likely to see a move to FSA regulation as positive. An improved perception of second-charge lending could lead to increased interest in products, and increased awareness of the sector. Secured lending has a part to play in debt financing but it is vital consumers are treated fairly and well protected. We have already been in discussion with government and the regulators and they are keen for the industry to reach its own conclusions. If not, we will have that power taken from our hands,” Mr Sinclair added.

Furthermore, with the EU directive affecting the entire unsecured loan market, the industry will have to introduce step-change legislation that will fundamentally alter the way that secured loans are promoted and sold, he claimed. Because of this, he reminded stakeholders that there was no time for procrastination and disagreement, both of which could weaken the industry at a time when it needs to take strong action to ensure that the views of all interested parties are fairly represented in the new regulatory framework governing the secured loans market, he concluded.

Opting for a secured loan may be of interest to people who plan on making large purchases, or who intend to carry out structural work on their home. However, a report published by Moneyfacts published in July warned homeowners that they may find their ability to get a secured loan is diminished due to poor market conditions. It noted that seven major secured loans providers have exited the marketplace as the credit crunch tighten its grip on the industry.

Abbi Rouse writes for All About Loans. Our visitors are offered advice and information all about loans, they can also apply online for cheap tenants loans and the best secured loans for any purpose, including self cert loans for the self employed.

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