Quote:
Originally Posted by Ignitionnet
Anyone who dismisses that they don't have a share of the blame is, by the same token, a rabid Labourite.
Interest rates, FSA / BoE, private pension grab, high public spending and various other policies all exacerbated the issue.
Not to say anyone else would have done it better but failings of governance were 50% of this issue.
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We keep agreeing. This is getting scary.
Seriously. I do agree. In an ideal world, the banks would act vaguely sensibly, and not act in a way that was likely to cause them bankruptcy in the long term. However, this world is not ideal, so it needs regulation.
The fact is that various governments (both Tory and Labour, and I suspect the Liberals would have done it given half a chance) have not only failed to stop them doing it, but actually encouraged them because it makes the economy look healthier.