Reply To: Are Bank Guarantees worth the paper they’re written on?



“If the Spanish government/legal system stepped in and wrote the standard bank guarantee which cannot be amended by anyone then those in the future would be safe”
Do you honestly believe that in this day and age, in any Country, the Government could dictate to banks/insurance companies what should be written into their contracts?
UK Government could not control its own funds, let alone the pension funds.

Why not nationalise the Banks, the Developers and leave the Goverment control all?

“When you think of what needs to be included…..completion date…LFO….interest returned…..It really doesnt need to be a complicated document.”
Both the Bank and Developers are out to make as much money as possible and despite documents being weighted in their favour, there are still people prepared to sign the dotted line, despite the current publicity.
Are they likely to kill the golden goose?