How come Paul from Coventrys comments make so much sense?I think that ge would make a better chancellor than AD.

stephen hulton, eure, france

This headline is misleading. By definition anyone with a mortgage on their home is not an 'owner'. A home debtor yes, but not a homeowner.

Paul, Coventry,

If you British would take the power to print and distribute the Pound and to set interest rates away from the private sector BoE, and make your Treasury department responsible for this task, you could stop this farce immediately. The Treasury would print only as much money as would be actually needed for mortgages
and not allow the Private Banks to augment their interest rates. The government would set the interest rate. It would not float. British citizens would shed their debt by paying it off. Risky mortgages would not be given in return for paying higher interest rates, but rather would have to provide a much greater proportion of the purchase price up front and proven. Iffy "investment firms would have to put up, say, 60% up front and in cash. Home buyers would put up 20% and be required to have the appropriate spendable income available. No one could buy a second home until his first was paid for entirely. Throwing the Private Banks out of money creation IS the solution.

victor compton, Cherbourg, France

We are now seeing the benefits of Gordon Brown and Tony Blair subscribing to the Thatcherite vision of 'light-touch' regulation of Financial institutions ( the City ), which was ensured by constant lobbying from the latter, who firmly resisted any calls for regulation and stingily did not want to surrender part of their profits to pay for their 'regulation'. During Equitable Life's collapse, the incredible duo said "we (Government and Tax payers) are not in the business of bailing out private institutions" (who have acted irresponsibly). The City and the Government both espoused the 'virtues' of a 'self regulated' financial system allowed to maximise profits by operating under minimal supervision and according to 'free market' rules, where irresponsible companies (like Equitable life) would be allowed to be punished by the market place (in being allowed to collapse). Witness the hypocrisy and volte-face as they now line up cap in hand to the BoE !

Roman, London, England

Why is it that people ignore the fact that house prices are where they are due to the simple economic rule of supply and demand? The price is reversing because demand has stuttered due to finance not being available for many. There is no 'right' to own a house and the general populace need to learn that they have to earn things instead. Once there were about three basic mortgage products and the fact that we are down to a choice of 5000 from 15000 is irrelavent. Banks will vary theirs rates to their business model and have the right to do so, and under company law any Director who abuses their position and ignores what is best for the Company could and should face Jail. The only truism of the whole affair is that the BOE is there to manage the economy not interfere in business and the Government should not 'bail out' banks who can't manage their own affairs. Some balanced journalism may help as well for a change.

Andrew, Bromley, UK

The only way this crisis will stop is when property values stop falling. We have a LONG way to go. Buckle up, and be prepared for the worst. This is The Great Millenium Depression.

Social unrest is guaranteed if these moneylenders and usurers are bailed out with tax payers money. Mr Brown should be very careful what he sanctions.

Mervyn King should stand tall and stick to his "no moral hazard" guns.

Milton Keynes, Cheltenham,

The government obviously thinks that banks are entitled to make billions from us every year. So why don't they just introduce a new "Bank Tax" and take it straight out of our pay packets? Then we wouldn't need all this subterfuge about lowering interest rates for savers while the mortgage rate is still going up.

If we did have a direct bank tax we could keep interest rates higher, not have inflation going through the roof and make our businesses more competitive abroad.

As the government thinks our property prices are still too low, perhaps Sir James Crosby could be encouraged to suggest measures such as 50 or 75 year mortgages? Mortgages of 25 times salary? Why shouldn't our children help pay for our houses, they live in them while growing up don't they?

S Holroyd, Elgin, UK

Unbelievable arrogance from the CML. Maybe if the banks hadn't been so reckless with their lending criteria over the past 5+ years we wouldn't be in this mess.

I am shocked that we, the taxpayers, are being pushed to accept this subprime/buy-to-let debt when the banks are the ones who have royally screwed up.

If these banks were so short of cash why did we have them raising dividends only a couple of months back!

John, Ealing , London

This sounds like yet another story peddled by the banks in order to get more cheap money out of the BoE. I do not believe that the banks 'liquidity' problems are anywhere near as serious as they want us to believe. Why else was I recently offered a personal loan by one of the major banks when I didn't even want one?

Paul, Coventry,

Interesting to see that Steven Crawshaw, chairman of the CML, is also chief executive of Bradford & Bingley, the lender that is most likely to go bust.

If we all withdrew our money from the Brad & Bing, would this cause it go bust?
If it did go bust would, would the people who have mortgages with the B&B become debt free?

s wright, manchester,