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'Labour ignored Bank of England warnings, caused recession & cost 1m jobs'


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They should just report it and led the Mod Team sort it out one way or the other from a position of knowledge, instead of letting their insecurities manifest themselves with silly sniping and ridiculous rows of smilies.

 

Ooo, look at me Mam :love::hihi::cool:

 

Thank you, it really is nonsense. If the mods want to contact me I am perfectly willing to answer any query. I repeat there is only one of me.

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Can anybody find any of these Bank of England warnings from before 2008? If they were that vocal, then there must be an old news article on the internet somewhere...

YES

 

12 Jul 2006

The City could face a financial meltdown if the debt bubble bursts, with over a year's worth of bank profits - £40bn - potentially being wiped off balance sheets, the Bank of England warns today. The Bank is issuing a stark warning about the potential damage a credit crunch and a collapse in asset prices could cause to the economy and financial system.

 

Tuesday 29 June 2004

Bank of England warns on debt

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YES

 

12 Jul 2006

The City could face a financial meltdown if the debt bubble bursts, with over a year's worth of bank profits - £40bn - potentially being wiped off balance sheets, the Bank of England warns today. The Bank is issuing a stark warning about the potential damage a credit crunch and a collapse in asset prices could cause to the economy and financial system.

 

Tuesday 29 June 2004

Bank of England warns on debt

 

Well done, I couldn't remember any, obviously my memory is failing in my old age. The 2006 warning was probably too late to do anything, it was only a year before the stock market crashed. Maybe something could've been done in 2004, but that warning could've been stronger, not sure if it's just the Guardian's reporting, but it seemed a bit weak.

 

We weren't the only country with problems though & there's a limited amount the government could do, global banks are more powerful than national governments. With heavier UK regulation the banks would've just carried on regardless, abroad, we'd still be in trouble now & would've had less growth before, particularly 2001-2006.

 

Anyway, we can't change what happened 5-10 years ago. It's 2 years since Labour were last in government. Where are the new regulations that will fix everything?

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So you don't actually know what de-regulation of the banks means do you? You think it means they were unregulated. Well, they were regulated until Brown got hold of them in 1997. After that it looks like they were free to do as they pleased...................................so they did.

 

How many straws can you grasp?

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Well done, I couldn't remember any, obviously my memory is failing in my old age. The 2006 warning was probably too late to do anything, it was only a year before the stock market crashed. Maybe something could've been done in 2004, but that warning could've been stronger, not sure if it's just the Guardian's reporting, but it seemed a bit weak.

 

We weren't the only country with problems though & there's a limited amount the government could do, global banks are more powerful than national governments. With heavier UK regulation the banks would've just carried on regardless, abroad, we'd still be in trouble now & would've had less growth before, particularly 2001-2006.

 

Anyway, we can't change what happened 5-10 years ago. It's 2 years since Labour were last in government. Where are the new regulations that will fix everything?

 

Heres one for November 2003

 

The Bank of England put the City on alert for further increases in borrowing costs yesterday as it issued its starkest warning yet to households about the dangers of taking on too much debt.

 

Mervyn King, the Bank's governor, said there was a danger that some households could find themselves in difficulties if borrowing costs increased or their economic circumstances changed, especially as the risks of a housing crash had grown

 

I think they are still working on new regulations.

 

The Government has published draft laws which will return responsibility for regulation of the financial services sector to the Bank of England.

 

I haven't read this.

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Actually not rumbled, you however like your silly pals are deluded.

 

 

You can't argue with the disadvantaged. Labour AND a Wednesday fan. It's the definition of being disadvantaged. Just more evidence that care in the community doesn't work.

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You can't argue with the disadvantaged. Labour AND a Wednesday fan. It's the definition of being disadvantaged. Just more evidence that care in the community doesn't work.

 

Jim, I think you are right, why dont we start a campaign to re open Jessops as an asylum? Its time we came to thier help.

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