Top Ten Real Causes Of Banking Crisis

Originally Posted by dazzer89

Where Labour got it right was the investment in health and education, that is what I pay my taxes for and as a resident of Notts, I saw at first hand this investment in terms of state of the art facilities, a fantastic new hospital and numerous new schools two of which both my children attended (partially as a result of this, Tom, my eldest, achieved an A* in Maths in year 9). In fact, if the truth were known, there is little the Labour government did that I strongly objected to - maybe you could make a case for slightly excessive spending, but in truth the country needed it, we needed improved roads, improved rail, improved schools and improved hospitals - that's what we got. Now we have a Conservative government, I do agree they have inherited a pretty crap situation, but they are going about it completely the wrong way, they are making political decisions on an economic issue, they are cutting too hard too soon in the hope that by the time the next election comes along things will look better.

Or were these funded by PFI, which just put the debt off onto future taxpayers?

[Stuart]

Originally Posted by Maggy J

This is what is puzzling me..I'm getting so many leaflets from so many differing sources(banks) exhorting me to take out loans or get a credit card and yet all we hear is that the banks are not loaning enough money.

The problem is that during a recession, one of the first things the banks did was to stop loaning money to small businesses. Some of whom, as a result, go bankrupt.

[Osem]

Inadequate regulation was a major factor in what went on leading up to the banking crisis so it was interesting to read this:

A powerful new "financial policy committee" (FPC) at the Bank of England has been unveiled by the government. It will oversee the government's new system of regulators, set to replace the Financial Services Authority (FSA).

http://www.bbc.co.uk/news/business-12495112

Let's hope it's a bit more efficacious than Hector Sants' chocolate teapot.

[Chrysalis]

Originally Posted by heero_yuy

If you're expecting any favours for company loyalty you're in for a rude awakening: Wait untill you actually need a little help, they'll drop you faster than a red hot bar of metal.

Heard the saying "We wil lend you money if you prove you dont need it".