Mecky Posted April 4, 2012 Share Posted April 4, 2012 ................and the banking failures were inevitable with the Labour government's lax regulatory system allowing them to operate unfettered. The banks provided 25% of the Labour government's income. Brown couldn't get enough of it. When it stopped Labour didn't stop spending, they just started borrowing. THAT is the cause of our current problems. Nor the tories for the previous 18 years and who deregulated the banks in the first place? Link to comment Share on other sites More sharing options...
I1L2T3 Posted April 4, 2012 Share Posted April 4, 2012 The banks stimulated the global and UK economy with cheap easily available credit, without the cheap credit the economies wouldn’t have been in a position to crash because they would have already been in decline or flat. So if you want to blame the banks for the bad times one must also accept they were responsible for the good times. I wouldn't describe them as good times at all. I was one of few who was highly critical of what was happening. On other forums like Money Saving Expert for years I argued the point that lending was out of control and that house prices were unsustainable. People called me a nutcase, house prices could only ever go up you see. I expect many of those were Tories who enjoyed the rise in house prices as much as anybody else and arguably stood to gain most in the most affluent constituencies. You see, I'm not the one who is the hypocrite. Link to comment Share on other sites More sharing options...
Tony Posted April 4, 2012 Share Posted April 4, 2012 That's the sort of wisdom that goes nowhere though. How much will you sell your house for; A. what you think it's worth, or B.what somebody will pay you? Does B make you a Tory and A make you an honest good ol' working class bloke? Link to comment Share on other sites More sharing options...
truman Posted April 4, 2012 Share Posted April 4, 2012 Nor the tories for the previous 18 years and who deregulated the banks in the first place? Were Labour right in continuing the Tories banking policies then? Link to comment Share on other sites More sharing options...
green Posted April 4, 2012 Share Posted April 4, 2012 Were Labour right in continuing the Tories banking policies then? Brilliant article in the FT today regarding our insolvent banks.... http://www.ft.com/cms/s/0/0455743e-7d93-11e1-bfa5-00144feab49a.html#axzz1qtkeWfQA Link to comment Share on other sites More sharing options...
L00b Posted April 4, 2012 Share Posted April 4, 2012 I wouldn't describe them as good times at all. I was one of few who was highly critical of what was happening. On other forums like Money Saving Expert for years I argued the point that lending was out of control and that house prices were unsustainable. People called me a nutcase, house prices could only ever go up you see.Up until that point I was in full agreement...then this happened: I expect many of those were Tories who enjoyed the rise in house prices as much as anybody else and arguably stood to gain most in the most affluent constituencies.In my experience, the paper gains were had (and enjoyed by 'releasing equity' and other such nonsense of the times) by all, irrespective of political persuasion. Of the acquaintances whose political persuasion I know, the vast majority who 'dibbed in' (easy credit, equity release, frenetic consumption, trade the car up on lease every year for the new reg, 5 weeks hols abroad a year, etc. - I'm sure you know the type ) were left-leaning and couldn't praise the Blair Gvt/years enough for the 'miracle'. ...Or maybe they were just outright opportunists, mind: many of these were, and still are, middle-to-high level public service, strangely enough That's the sort of wisdom that goes nowhere though.If you know something is going to happen in the short to medium term, and plan your finance/career/circumstances accordingly (besides voicing your opinion about same, like Cassandra), can it be said to be 'going nowhere'? Link to comment Share on other sites More sharing options...
splodgeyAl Posted April 4, 2012 Share Posted April 4, 2012 That's the sort of wisdom that goes nowhere though. How much will you sell your house for; A. what you think it's worth, or B.what somebody will pay you? Does B make you a Tory and A make you an honest good ol' working class bloke? Surely B is usually less than A? Link to comment Share on other sites More sharing options...
JFKvsNixon Posted April 4, 2012 Share Posted April 4, 2012 Surely B is usually less than A? Today yes, what about six years ago though? Link to comment Share on other sites More sharing options...
splodgeyAl Posted April 4, 2012 Share Posted April 4, 2012 Today yes, what about six years ago though?There will always be people who don't stand by their word, which is the only time that can happen. Oh, are these the people Tony meant by "tory"? Link to comment Share on other sites More sharing options...
Tony Posted April 4, 2012 Share Posted April 4, 2012 Surely B is usually less than A? Not in the context of the post that it refers to. Link to comment Share on other sites More sharing options...
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