The rot that started with Thatcher's release of financial institutions from scrutiny was enthusiastically maintained by New Labour and the recklessness of this policy was reflected across the Atlantic. All the signs were there but we were all doing oh so well (except for the poor, who found themselves falling further and further behind). The US housing market was the most unbelievably irresponsible place. Once that shivered we all caught flu. But we were doing very bad things here too. Banks not having the equity to support risky lending. You could borrow 125% of the value of the house you were buying, no deposit needed, few checks, borrowing six times your income. It wasn't Clinton doing that in the UK, Teribus. It was Northern Rock and all the rest of 'em. But we haven't learned. Trump is deregulating again, deregulation is in the Tories' blood and indebtedness is as bad here as it was before 2008. Whilst I would never dream of doing it, even on my modest income I could go out tomorrow and buy a hundred-grand sports car if I wanted to, no deposit, no problem. My "credit rating" is absolutely spotless. No-one's watching me!