Another day, another desperate throw of the dice (3)

Continuing my occasional series* on "Crazy measure that the gummint adopts in the vain hope of staving off the house price crash", they are coming thick and fast now. Here's today's attempt ...

The Treasury's Yvette Cooper has also urged lenders to be more lenient on people who default on mortgages [and has] called for banks and building societies to have a more responsible approach when home owners default on their mortgages. The government is working on ways to tighten the rules when courts have to decide on repossessions. "We need to do everything that we can to keep people in their own homes," she said.

In other words, repossessions are bad for house prices, so you fix this by making it much more difficult for the bank for repossess houses. And seeing as the gummint writes the laws and has nationalised half the banking sector anyway, they can push this through quite easily.

Gentlemen, the Age Of Irresponsibility is about to go to the next level! 

* Here, here, here, here, here and here.