Mervyn King promises

treliac

http://www.bbc.co.uk/blogs/thereporters/robertpeston/

What is this likely to mean for the British public?

ad9898_3

I think to be honest, it won't mean that much, its like sticking your finger in the dike, when there is already a hole you could drive a bus through.

fatpig_2

He should have been sacked ages ago. He kept interest rates way too low and encouraged the calamitous property bubble.

pickles110564

fatpig wrote: »

He should have been sacked ages ago. He kept interest rates way too low and encouraged the calamitous property bubble.

He was only following insructions fron Blair and Broon anyone that believes otherwise are idiots.

Walletwatch

treliac wrote: »

http://www.bbc.co.uk/blogs/thereporters/robertpeston/

What is this likely to mean for the British public?

I think what this means is that Brown does learn from mistakes after all, albeit these were others' mistakes. Instead of announcing a stupid grandstand plan like Paulson asking for 700 billion dollars, this is drip-feeding the same kind of rescue 40 billion pounds a week for a period of at least six weeks. I make that at least 240 billion pounds (or 400 billion dollars, assuming they don't increase it to more than 40 billion a week) and an open-ended one at that - if they extend it by a month, that's another 160 billion pounds !!!

Now how much does that come to - 240 + 160 = 400 billion pounds, which is between 700 and 800 billion dollars :eek:

dean_ham

pickles110564 wrote: »

He was only following insructions fron Blair and Broon anyone that believes otherwise are idiots.

Was that really the case though?

I blame the FSA for leaving the relaxed lending carry on over the last 6-7 years.

Its simple, if the money isnt there to borrow houses cant rise to extortionate levels, but the lending carried on carried on and now we are in this situation....

BLAME FSA! And blame Brown of course cause i cant stand the arrogant ****