HPC Forum Member Writes To The Bank Of England Demanding Change

Monkey on computer

I admire people that take proactive approaches to represent their stance on a certain subject they feel passionate about. Rally leaders, political figures, even hippy protestors in masses, those people make things happen.

But when you’re witnessing a lone ranger outsourcing a feeble letter to a powerful organisation, which for part doesn’t make sense, it’s terribly hard to watch. But we do.

If you find a hair in your soup, you write a degrading letter, cursing out the chef and their mum. At the end of it, you may even get invited back to the same ol’ shitty restaurant for a free meal (smeared with their very own special sauce, of course).

Unfortunately, achieving the same level of success – with a snotty letter sent by an absolute nobody – when you have a problem with the Bank Of England probably won’t move the needle.

Here’s a letter that was written by a HPC member to the Bank Of England. It’s pretty astonishing that some people must literally have nothing else to do:

waitingfor hpc (HPC member) wrote:

House Price Crash Forum Member Writes To The Bank Of England- The Letter

“Incompetence of the heighest level” *cough*

The Response:


Thank you for your enquiry.

I would emphasise that the purpose of the scheme is to help improve the liquidity position of the banking system and raise confidence in financial markets while ensuring that the risk of losses on the loans they have made remains entirely with the banks. The whole focus is on underpinning the liquidity of the UK banking system. Financial markets are not working normally and without action, there is a risk that this will have an impact on the wider economy.
It is not a bail-out in any sense and it’s misleading to describe it as such.
As you may recognise from the details of the facility – we are swapping assets with the banks of equivalent value – with margins applied by the Bank. This is about the liquidity of assets, not their soundness.

Our announcement may be seen in full over here (page on the Bank of England website has since been removed).

Yours sincerely
Malcolm Shemmonds

You can read the whole debacle right here.

Needless to say, a few of the members applauded, lapped it up and joined the revolution by sending in additional letters. I’m sure they’ll eventually make an impact! No, really!

A couple of the other HPC members, well, they pointed and laughed at the spelling mistakes. I’m not a grammar-Nazi myself, I make mistakes all-fucking-day long. But hey, I would even have the courtesy of using Microsoft Word when lodging an official complaint, you know, just to give it some level of credence, otherwise you could end up looking like a dumb-ass.

Perhaps the monkey the BoE employs to respond to the abundance of emails they presumably get on a regular basis will eventually give a shit. But on this very sad occasion, this is honestly how I think the conversation went at HQ. What do you think?

House Price Crash Forum Member Writes To The Bank Of England

2 Join the Conversation...

Guest Avatar
techpunk 22nd June, 2011 @ 17:52

liked the cartoon!
i recently joined the hpc forum .....and after a couple of weeks was banned, because they didn't like what i had to say. fair enough, i thought, until i wanted to delete my profile. then found out i couldn't, so contacted the forum administrators to ask them to do so. have they, after repeated emails. no. they simply changed my forum settings to "you are not allowed to access this forum"....which of course i can, if i am not logged in!...strange lot.
incidently, the reason i wanted disengaged from the forum was because i was banned for taking offence to the blatant sexism on the site, and commented (i thought quite humorously) about the frankly outrageous comments of a certain member (ccc....he is some character, i tell thee!) regarding his sexualisation and sexual appetite of/ for school children!
anyway, i do keep reading. it makes me feel better about myself when i feel down!
again: great cartoon!

Guest Avatar
Brendan 23rd September, 2015 @ 23:08

Great cartoon, very pertinent.

Despite three failed registrations and lurking there nearly a decade I'm not yet even honored by a ban, presumably using a business email as an address makes me the perpetrator of their oppression.

Shame really, there are some great writers there, with a lot of knowledge in and outside of the property market - albeit with rather laddish humour at times. Don't think all HPcers are disaffected students renting above chip shops.

Easy to laugh at them, but housing is stupidly overvalued in the Uk now, at great social cost, both to the life renters and DHSS.

















Your personal information will *never* be sold or shared to a 3rd party. By submitting your details, you agree to our Privacy Policy.

I want more info on...