| Hello
I personally think, the reason we are as a nation in a worse situation than our counter parts,
is due to the fact many countries saw the UK as a free for all with regards to the financial sector.
Icelandic banks case in point. The government opened the doors to anybody without regulation,
and was happy to allow them to sell their wares to the public. Encouraging mass dept amongst the populace
with mortgages set at in some case 100% of earnings.
What was the song of the opening Blair Years “Things can only get better”
We are constantly being told it’s a world recession, but Gordon Brown was the chancellor or the exchequer
for a good few years, and I believe he must of known that this open market, would result in a down turn,
and come back to bite. So now he has instructed Alistair Darling to throw money at the banks to try and kick
start the market reduce VAT etc . . Which I believe will not solve the problem.
People are now pulling in the purse strings, as savings are being hit, and bills are rising out of control,
and the government hope we will spend our way out of recession? On top of that the bank bosses
sit around apologising to its share holders and claim they never perceived the economy would react in this way?
I honestly believe there were many who had the foresight to predict these times,
but their advice was not sought or acted on. Its all doom and gloom for the perceivable future,
and hard times are a coming and it looks like nobody will take the blame or be held accountable.
Which sounds about right, from the people playing with our money.
TopiToo  | 
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