500,000 pensioners pay the price for the indebted.

jay3_2

Jennifer_Jane wrote: »

Thanks, George, have edited the post.

Can I also bring something up which seems to have been forgotten: at one of the Labour conferences, someone (Tony Blair?) was heckled by an 80-year-old lifelong Labour supporter. He was very quickly hustled out of the room and out of the building by security thugs.

Reminded me of the 1970's in South Africa - the frightening start of a dictatorial society.

We need to remember these things. As Harold Wilson said 'A week is a long time in the minds of the public' or something like that.

Jen
x

Quite. But we should also remember Thatcher's liason with General Pinochet, a rather more distasteful episode I'm sure you would agree. Now there is a man who could speak about a dictatorial society!

The Wilson quote is apt " a long time in politics" I believe he said. But Jen, George, let's not forget what happened before last week, 12 months ago, 10 years ago, 20 years ago - why be selective in what we choose to learn from?

lostinrates

jay3 wrote: »

Quite. But we should also remember Thatcher's liason with General Pinochet, a rather more distasteful episode I'm sure you would agree. Now there is a man who could speak about a dictatorial society!

The Wilson quote is apt " a long time in politics" I believe he said. But Jen, George, let's not forget what happened before last week, 12 months ago, 10 years ago, 20 years ago - why be selective in what we choose to learn from?

Perhaps the selection should start as far back as from when the current players still in the game? Even then we have to accept that people's political ideals evolve sometimes, and abilities change.

jay3_2

Jennifer_Jane wrote: »

We need to keep reminding people/ourselves even, of what has happened over the last year or so, because very soon - and I think it's already started (last night on TV), Labour will be telling us how wonderful they are ...


Jen
x

(Forgive me for the selective quotation...!)

But surely the point is that the Conservatives or LibDems will also be revising history to suit their purposes - this is the unfortunate reality of our party political system.

Jennifer_Jane

jay3 wrote: »

(Forgive me for the selective quotation...!)

But surely the point is that the Conservatives or LibDems will also be revising history to suit their purposes - this is the unfortunate reality of our party political system.

Oh very probably, Jay. How refreshing it would be to have politicians with innate integrity.

Jen
x

Jennifer_Jane

jay3 wrote: »

Quite. But we should also remember Thatcher's liason with General Pinochet, a rather more distasteful episode I'm sure you would agree. Now there is a man who could speak about a dictatorial society!

The Wilson quote is apt " a long time in politics" I believe he said. But Jen, George, let's not forget what happened before last week, 12 months ago, 10 years ago, 20 years ago - why be selective in what we choose to learn from?

Ah, yes, Margaret Thatcher - not a good person. But that was a long time ago, and as I said previously (somewhere around here) something similar to well the circumstances are now different, the politicians are different, the public are different. We have to let go of Thatcher, just as we have let go of Wilson/Eden/Churchill/Keir Hardie (well you get the picture even if my knowledge of history is weak, and I'm too lazy to look up things).

Thanks for the correction on the quote from Harold Wilson. I actually liked him although he did devalue the Pound, had very high tax rates and so on. Do you remember him, or are you too young for that?

Jen
x

Optimist

Jennifer_Jane wrote: »

Ah, yes, Margaret Thatcher - not a good person. But that was a long time ago, and as I said previously (somewhere around here) something similar to well the circumstances are now different, the politicians are different, the public are different. We have to let go of Thatcher, just as we have let go of Wilson/Eden/Churchill/Keir Hardie (well you get the picture even if my knowledge of history is weak, and I'm too lazy to look up things).

Thanks for the correction on the quote from Harold Wilson. I actually liked him although he did devalue the Pound, had very high tax rates and so on. Do you remember him, or are you too young for that?

Jen
x

He also said as he devalued the pound "It does not mean that the pound here in Britain, in your pocket or purse or in your bank will be devalued!"

I was never sure if he really believed that or was just another politician treating the public like fools on the whole and with my general contempt for politicians I tend to think the latter !

pickles110564

jay3 wrote: »

Quite. But we should also remember Thatcher's liason with General Pinochet,

At least Thatcher did not rape the pension funds, if they had been left alone perhaps people would not have been so reckless in their chase for profits.

jay3_2

pickles110564 wrote: »

At least Thatcher did not rape the pension funds, if they had been left alone perhaps people would not have been so reckless in their chase for profits.

I wouldn't bet your pension on that!

jay3_2

Jennifer_Jane wrote: »

Thanks for the correction on the quote from Harold Wilson. I actually liked him although he did devalue the Pound, had very high tax rates and so on. Do you remember him, or are you too young for that?

Jen
x

I am just old enough to remember him, unfortunately!

I used to get him and Mike Yarwood mixed up...

baileysbattlebus

Jennifer_Jane wrote: »

Ah, yes, Margaret Thatcher - not a good person. But that was a long time ago, and as I said previously (somewhere around here) something similar to well the circumstances are now different, the politicians are different, the public are different. We have to let go of Thatcher, just as we have let go of Wilson/Eden/Churchill/Keir Hardie (well you get the picture even if my knowledge of history is weak, and I'm too lazy to look up things).

Thanks for the correction on the quote from Harold Wilson. I actually liked him although he did devalue the Pound, had very high tax rates and so on. Do you remember him, or are you too young for that?

Jen
x

The trouble is a lot this was started in the Thatcher administration and was carried on by Labour.

Remember the "big bang" of 1986 when the fixed commisions and conservative practices of the city were lifted and the doors opened to investment banks from all over the world? In particular Wall St.

Before 1986 the big names in London were, Warberg, Morgan Grenfell, James Capell.

JP Morgan, Merrill Lynch, Goldman Sachs etc were not big players here - within 10 years they and their likes had implemented their integrated investment banking model. They had taken over about 80% of UK financial institutions.

Partners in City firms became salaried employees, so instead of risking their own money they were risking someone elses. And earning big bonuses for the privilege.

Clearing banks which were strictly regulated, and generally provided current accounts and short term loans, and a safe haven for your money, suddenly were able to make long term loans, make loans against property and to take risks.

Probably in reality deregulation was inevitable. Though I'm not an economist or a historian - but history has certainly played it's part.