Remind me, which chancellor/Prime Minister bailed the banks out in 2008? Why is this still being touted as a Tory issue?
Although I despise Labour with every bone in my body, I have to concede that bailing out the banks was the only option to prevent millions of ordinary people losing their savings, investments and pensions. However, it was the labour lack of regulation that led to this situation, so it was only right that they did what they could to rectify it.
It is not fair to use their catastrophic economic failure to beat the subsequent government with 4 years later, but it is typical of the short-sightedness of the average left-leaning voter.
Bailing out banks might save other people from losing their savings and so on but it is really essential to bail out banks because of their mismanagement or wrong decisions that had led to financial crisis.
We need the equivalent of the US Glass Steagal Act. It separated Savings and Loans banks from the high risk roulette banks until repealed (under Clinton, I think) following pressure during the Reagan years, and which led straight to the banking crisis.
For Brown and Darling not to have pushed for this when we bailed them out is a criminal dereliction of responsibility in my opinion.
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Remind me, which chancellor/Prime Minister bailed the banks out in 2008? Why is this still being touted as a Tory issue?
Although I despise Labour with every bone in my body, I have to concede that bailing out the banks was the only option to prevent millions of ordinary people losing their savings, investments and pensions. However, it was the labour lack of regulation that led to this situation, so it was only right that they did what they could to rectify it.
It is not fair to use their catastrophic economic failure to beat the subsequent government with 4 years later, but it is typical of the short-sightedness of the average left-leaning voter.
Bailing out banks might save other people from losing their savings and so on but it is really essential to bail out banks because of their mismanagement or wrong decisions that had led to financial crisis.
We need the equivalent of the US Glass Steagal Act. It separated Savings and Loans banks from the high risk roulette banks until repealed (under Clinton, I think) following pressure during the Reagan years, and which led straight to the banking crisis.
For Brown and Darling not to have pushed for this when we bailed them out is a criminal dereliction of responsibility in my opinion.
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