Lawsuits shine light on Goldman’s role in Asiasons, Blumont and LionGold crash

[NTL]

Banks take back umbrellas when it is raining. Whats new.

Just wondering, does banks really have the power to pull back a loan at any time with such a short notice? (In this case, 7mins). If that happen to the property loans, what will happen to the masses?

if you read your mortgage T&C carefully, the loan is repayable on demand.

Thank you. I better go and read it again. May have to set aside a huge amount of money in case they give me only 7mins to pay up.

Actual phrase in T&C:
"Despite any other term of our banking agreement, we may ask you to repay all or part of the balance owing for the account for the mortgage facility and all other amount owing to us in connection with the mortgage facility at any time. If we do so, you must immediately pay the amount we demand."

[CityFarmer]

Banks take back umbrellas when it is raining. Whats new.

Just wondering, does banks really have the power to pull back a loan at any time with such a short notice? (In this case, 7mins). If that happen to the property loans, what will happen to the masses?

if you read your mortgage T&C carefully, the loan is repayable on demand.

Thank you. I better go and read it again. May have to set aside a huge amount of money in case they give me only 7mins to pay up.

Actual phrase in T&C:
"Despite any other term of our banking agreement, we may ask you to repay all or part of the balance owing for the account for the mortgage facility and all other amount owing to us in connection with the mortgage facility at any time. If we do so, you must immediately pay the amount we demand."

That is the risk of debt, right? That also the important of debt structure, with bank debt as the most risky one...

[NTL]

Banks take back umbrellas when it is raining. Whats new.

Just wondering, does banks really have the power to pull back a loan at any time with such a short notice? (In this case, 7mins). If that happen to the property loans, what will happen to the masses?

if you read your mortgage T&C carefully, the loan is repayable on demand.

Thank you. I better go and read it again. May have to set aside a huge amount of money in case they give me only 7mins to pay up.

Actual phrase in T&C:
"Despite any other term of our banking agreement, we may ask you to repay all or part of the balance owing for the account for the mortgage facility and all other amount owing to us in connection with the mortgage facility at any time. If we do so, you must immediately pay the amount we demand."

That is the risk of debt, right? That also the important of debt structure, with bank debt as the most risky one...

So it will be better to go debt free, or in net-cash position?

[cfa]

The new sensation seems to be , win take money lose sue.

[CityFarmer]

That is the risk of debt, right? That also the important of debt structure, with bank debt as the most risky one...

So it will be better to go debt free, or in net-cash position?

It depends on the debt types and quality. I will go debt-free from credit debt, car debt, and any other unsecured credits.

I might still keeping property debt with "right" LTV ratio. Without leverage, property investments are unjustifiable, IMO

Property debt (loan) is a good business for banks. High quality property debts (with low LTV ratio) are highly sought-after by banks.

[lilvestor]

Banks take back umbrellas when it is raining. Whats new.

Just wondering, does banks really have the power to pull back a loan at any time with such a short notice? (In this case, 7mins). If that happen to the property loans, what will happen to the masses?

if you read your mortgage T&C carefully, the loan is repayable on demand.

Thank you. I better go and read it again. May have to set aside a huge amount of money in case they give me only 7mins to pay up.

Actual phrase in T&C:
"Despite any other term of our banking agreement, we may ask you to repay all or part of the balance owing for the account for the mortgage facility and all other amount owing to us in connection with the mortgage facility at any time. If we do so, you must immediately pay the amount we demand."

Except that its not in the bank's interest to do that. They gain nothing if you default, and they lose all the interest income they would have made from you if you default.

[opmi]

That is the risk of debt, right? That also the important of debt structure, with bank debt as the most risky one...

So it will be better to go debt free, or in net-cash position?

It depends on the debt types and quality. I will go debt-free from credit debt, car debt, and any other unsecured credits.

I might still keeping property debt with "right" LTV ratio. Without leverage, property investments are unjustifiable, IMO

Property debt (loan) is a good business for banks. High quality property debts (with low LTV ratio) are highly sought-after by banks.

at 50% LTV for property bot at low or mid point of property cycle, wont die one. Coz cyclical downcycle wont go down 30%. So still safe before kenna margin call by banks. Provided it is not a structural change.

Ya. without leverage, physical property give boring returns with lots of effort.

[opmi]

Banks take back umbrellas when it is raining. Whats new.

Just wondering, does banks really have the power to pull back a loan at any time with such a short notice? (In this case, 7mins). If that happen to the property loans, what will happen to the masses?

if you read your mortgage T&C carefully, the loan is repayable on demand.

Thank you. I better go and read it again. May have to set aside a huge amount of money in case they give me only 7mins to pay up.

Actual phrase in T&C:
"Despite any other term of our banking agreement, we may ask you to repay all or part of the balance owing for the account for the mortgage facility and all other amount owing to us in connection with the mortgage facility at any time. If we do so, you must immediately pay the amount we demand."

Except that its not in the bank's interest to do that. They gain nothing if you default, and they lose all the interest income they would have made from you if you default.

banks will ask you to top up first. depends on how hard up banks to recoup their capital (banks/finance co also borrowed these money that they lent you. you die better than they die eg. in AFC).

[lilvestor]

trading penny stocks on margin, what a good way to go broke

At $2.XX, it definitely does not look like penny to me.

Price is what you pay, value is what you get. Paying $2 for a penny stock micro cap will not turn it into a large cap blue chip, you only short-change yourself if you do that.

[lilvestor]

Just wondering, does banks really have the power to pull back a loan at any time with such a short notice? (In this case, 7mins). If that happen to the property loans, what will happen to the masses?

if you read your mortgage T&C carefully, the loan is repayable on demand.

Thank you. I better go and read it again. May have to set aside a huge amount of money in case they give me only 7mins to pay up.

Actual phrase in T&C:
"Despite any other term of our banking agreement, we may ask you to repay all or part of the balance owing for the account for the mortgage facility and all other amount owing to us in connection with the mortgage facility at any time. If we do so, you must immediately pay the amount we demand."

Except that its not in the bank's interest to do that. They gain nothing if you default, and they lose all the interest income they would have made from you if you default.

banks will ask you to top up first. depends on how hard up banks to recoup their capital (banks/finance co also borrowed these money that they lent you. you die better than they die eg. in AFC).

Agree but they will not give you a mere few hours to top up, thats no different from forcing you to default.