Originally posted by PurpleGorilla
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Tony Blair
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Originally posted by PurpleGorilla View PostWasn't RBS the worlds biggest bank at one point before the financial crash?
The spin that the US was almost entirely to blame is a complete joke.
Credit to the Americans, at least they let their banks go to the wall.
How much did our bail out cost? £135bn. Then maybe another £500bn QE.
I don't see how a British government could have prevented that, other than to make it illegal to do business in the US, which would in itself precipitated a crisis of a different type.I'm alright JackComment
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Originally posted by BlasterBates View PostRBS went bankrupt because it had expanded into the US and was brought down by the US subprime crisis, i.e. it owned US companies with exposure to sub-prime mortgages.
I don't see how a British government could have prevented that, other than to make it illegal to do business in the US, which would in itself precipitated a crisis of a different type.
The warning signs were clear - HMG chose to turn a blind eye to the magic rocking horse poo machine.Comment
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Originally posted by NotAllThere View PostThe financial crash was triggered primarily by US sub-prime mortgages and trading thereof. It was exacerbated by the general easy availability of credit and other factors like self-cert mortgages. BtL took advantage of easy credit/self-cert, and made the credit crunch worse. How much it made it worse is a matter of debate.
Luckily for me I got a few good pieces of work sorting the mess out.Comment
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Originally posted by GB9 View PostThe crash in the UK was triggered by the above happening in the UK. The us situation had no immediate impact on our mortgage market.
Luckily for me I got a few good pieces of work sorting the mess out."You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by NotAllThere View PostThe financial crash was triggered primarily by US sub-prime mortgages and trading thereof. It was exacerbated by the general easy availability of credit and other factors like self-cert mortgages. BtL took advantage of easy credit/self-cert, and made the credit crunch worse. How much it made it worse is a matter of debate.“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”Comment
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Tony Blair
‘We will negotiate a withdrawal from the EEC which has drained our natural resources and destroyed jobs’
–Tony Blair, Election address, 1983.
http://metro.co.uk/2007/05/02/the-th...#ixzz4Yz9WpUAcComment
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Originally posted by woohoo View PostI like Blair, made a mistake with a failed war and a bit of a god botherer but still he was successful.
Labour would likely still have won in 1997 under John Smith, probably by a smaller margin. Alas, Labour's attempts to distance themselves from Blair will likely weaken them for a long time. Popular Blairites, such as David Milliband, have been sidelined for Corbyn and Owen Smith (who?) and their ilk.
For me, Blair's biggest faux pas was handing over to Gordon Brown, but he likely did that knowing what was around the corner.
Labour will never govern again without another Blair-like centre ground leader. Some people would say 'yeah great', but a lifetime of a single party of government is not a good thing. Theresa May is not a good thing, she should (in theory) be a sitting duck in 2020, but there will be no credible Labour opposition and no credible third way.
(2010 showed that despite the Lib Dems almost unanimous popularity ("I agree with Nick", FFS), they only increased their share of the vote from 22 to 23% between 2005 and 2010).Taking a break from contractingComment
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Originally posted by GB9 View PostAnd Jezza tells Tone to get back in his box.
So while I detest Tony Blair due to the type of politics he left as his legacy, I dislike Corbyn due to being a crap opposition leader. At least the Tories in opposition told IBS to resign because he was equally as useless and he did."You’re just a bad memory who doesn’t know when to go away" JRComment
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