The Mudcat Café TM
Thread #123951   Message #2737147
Posted By: Will Fly
03-Oct-09 - 04:36 AM
Thread Name: BS: Gordon Brown's Labour conference
Subject: RE: BS: Gordon Brown's Labour conference
Has it been forgotten that the roots of today's banking crisis were planted by Thatcher in the actions she and her government took to deregulate much of the City banking processes? Moves that were followed in the US. The natural greed - if I may say so - of banks and financial institutions was controlled to a much lesser extent and we've seen the stupidity of such things as borrowing to lend which has helped to cause the current banking crisis.

It's true to say that successive post-Thatcher governments, including Gordon Brown's, have done little or nothing to do anything about it all - but it was all going so well, wasn't it? (!)