Times poll sees Gordon Brown ahead of the Cameron

BACKFRMTHEEDGE

moggylover wrote: »

And which party actually STARTED the process of deregulation in the first place? Yep, that's right the Tories under Thatcher with the boast that unleashing the people who knew how to make and manage money was the answer to economic growth which, to some extent, it is. There was also a belief that these people would be ethical and sensible enough to regulate themselves:rotfl: ! Well, someone forgot to factor in the human greed aspect didn't they:eek: . If people will kill their granny for a few thousand, think what they will do for a few million:eek:

Amen to that:T:T:T I think we've found out what they'd do for a few million - bring the global economy to its knees...

sabretoothtigger

A common enemy unites..

adr0ck wrote: »

it would have been nice to have a big surplus going into recession though

Would have been lovely and being harder on spending/lending during the good times would have helped control the needless excess, I think it could have helped prevent some of this 'fake worth' debt bubble

drbeat

BACKFRMTHEEDGE wrote: »

No our memories are long ....very long.... and we remember...

Yeah I remember when rubbish was piling up in the streets, dead bodies left unburied, inflation at over 20%, public transport grinding to a halt, beer and sandwiches at No 10 with the unions...

'Crisis? Wot crisis?'

Oh those were the days...

How about when the Tories were in Govt and Liverpool Council were nearly declared bankrupt...now who were running it at the time? Labour's party within a party: Militant!

BACKFRMTHEEDGE

ad9898 wrote: »

He has not caused the issue as a whole, granted. However his policies over the last 11 years have put us in a much worse position than we would have otherwise been.

Howzat - You must be very young 'cos for us oldies we ain't ever had it so good. Tough - you don't even know the meaning of the word...

BACKFRMTHEEDGE

drbeat wrote: »

Yeah I remember when rubbish was piling up in the streets, dead bodies left unburied, inflation at over 20%, public transport grinding to a halt, beer and sandwiches at No 10 with the unions...

'Crisis? Wot crisis?'

Oh those were the days...

How about when the Tories were in Govt and Liverpool Council were nearly declared bankrupt...now who were running it at the time? Labour's party within a party: Militant!

I'm old but I'm not THAT old...:D

BACKFRMTHEEDGE

Microstar wrote: »

If there is one thing that frightens me more that Brown and Darling getting re-elected its the thought of our 'Dave' Cameron and 'boy' George Osbourne getting their mitts on the levers of power. Two perfectly nice ex-public schoolboys who'd do the country a favour if they went off and did a work placement in a jolly nice PR company, or something.......

And yes, the Tories were calling for more deregulation (in 2003 - 'FSA getting in the way of business' and Cameron in 2007, to name but two occasions) .

What we are actually seeing is the endgame of the 1980's economic policies - the end of Thatcher/Joseph/Reagan/Friedmann economics. Not just in the UK but around the world.

Amen to that too:T:T:T Good Post

sabretoothtigger

The FNM changes were more recent then that, I think its possibly clinton

Many share the blame, but in general its just a human trait to be greedy & shortsighted

Fannie Mae Eases Credit To Aid Mortgage Lending


September 30, 1999

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260

http://www.truthorfiction.com/rumors/f/nyt-fannie-mae-clinton-1999.htm

http://www.google.co.uk/search?q=nytimes+predicts+bailout+fannie+mae&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a





In the same way Obama will continue many of bushes mistakes. Its easier to critise then correct unfortunately

drbeat

BACKFRMTHEEDGE wrote: »

Amen to that too:T:T:T Good Post

Yes and having an ex-supporter of the Trotskyist Fourth International as Chancellor is doing us all the world of good!

ad9898_3

BACKFRMTHEEDGE wrote: »

Howzat - You must be very young 'cos for us oldies we ain't ever had it so good. Tough - you don't even know the meaning of the word...

I'm 39, so not too young, however you say we have never had it so good, the last 11 years have been built on debt, the fruits which of which we are now being force fed. Its easy to have a good time whilst blowing money. Not so good when the party is over and you have to pay up.

The party is now over.

Spiv_2

ad9898 wrote: »

I'm 39, so not too young, however you say we have never had it so good, the last 11 years have been built on debt, the fruits which of which we are now being force fed. Its easy to have a good time whilst blowing money. Not so good when the party is over and you have to pay up.

The party is now over.

Blimey you have no faith in your country. How and when did you become such a cynic? If you haven't been enjoying the good times over the last 15 years, you are really going to have a hard time in the next ten.:cool: