What caused Northern Rock to ..

[Anna B]

Jesus Anna, do you have to get austerity or your hatred of anything Tory into every post you make?

 

It's an extremely important point, and shouldn't be brushed under the carpet.

 

The Tories blamed Labour for the crisis shamelessly, knowing it to be a bare faced lie.

 

"A lie told often enough becomes the truth."

 

A General Election was won on the back of it. It tells you all you need to know about the Tories.

[Marsaud]

I’ve re-evaluated my opinion of the question in the OP.

 

The real answer is greed, capitalism, Thatcher, Lawson and the Big Bang.

 

Quite a lot of our ills can be traced back to the 1980s Governments.

[Anna B]

I’ve re-evaluated my opinion of the question in the OP.

 

The real answer is greed, capitalism, Thatcher, Lawson and the Big Bang.

 

Quite a lot of our ills can be traced back to the 1980s Governments.

 

You got it

[Jeffrey Shaw]

And now apparently Manchester Building Society is heading in the same direction.

[newcomer01]

In my opinion there is only one person who has contributed to this thread who has got it absolutely bang on about Northern Rock.In all my time within the Financial Services sector ,Northern Rock had always been known as dealing within the sub prime sector.There were a couple of other companies doing similar who went the same way. One being Welcome Financial Services and London Scottish Finance( including Robinson Way and Co). They all went under around the same time

[Annie Bynnol]

And now apparently Manchester Building Society is heading in the same direction.

 

Very different.

Manchester Building Society is a tiny building society -34th biggest BS

Northern Rock was a big bank- 5th biggest bank.

.

[alchresearch]

A General Election was won on the back of it. It tells you all you need to know about the Tories.

 

Rubbish. Labour's day was over long before this, just like the Tories was before 1997.

[sheffbag]

It's an extremely important point, and shouldn't be brushed under the carpet.

 

The Tories blamed Labour for the crisis shamelessly, knowing it to be a bare faced lie.

 

"A lie told often enough becomes the truth."

 

A General Election was won on the back of it. It tells you all you need to know about the Tories.

dont you mean all you need to know about the electorate? after all, they were the ones who voted enabling the Tories to win an election.

[Anna B]

dont you mean all you need to know about the electorate? after all, they were the ones who voted enabling the Tories to win an election.

 

the electorate were lied to over and over again by the Tories.

 

The banking system was /is not understood by many people even now. Back then, very few people understood what had happened and it was complicated. It couldn't be explained in a soundbite, but the Tories made one up anyway: "Labour crashed the economy."

 

Totally and utterly untrue, but not enough people knew enough to know how to question it. They repeated it until everyone believed it, so of course they won. 'Repeat a lie often enough it becomes the truth. Conservatives play dirty, always have, always will. Always quick to exploit any situation even if it means lying through their teeth. And that's exactly what they did.