Northern Crock

[Cyberman]

So you want regulation, I thought being conservative was free markets and cutting red tape?

There is always regulation regardless of which government, but instead of regulating with crazy things such as HIPS, Labour should try regulating the necessary things, and lending control was plainly necessary.

[Bagpuss]

But you invested 20,000 pounds in Northern Rock, therefore you seem to be arguing that the the Government should have saved you from your own stupidity.

[Peoplesoft bloke]

Some banks are still offering it, but remember this is/was all with sanction of the Labour government which should have put in reasonable credit controls at least three years ago. Instead, to keep a feelgood factor and thus taxes rolling in, they cynically allowed the state of affairs to get out of control.

Useless, useless and even more useless ...... OUT !!!!

Hmmmm who abolished credit controls and allowed Mutuals to float and trouser large sums in the first place?

[Peoplesoft bloke]

But you invested 20,000 pounds in Northern Rock, therefore you seem to be arguing that the the Government should have saved you from your own stupidity.

No one can save him from that, God knows we've tried.

[Bagpuss]

It reminds me of the Lloyds names who complained of foul play and wanted the Goverment to bail them out when they were called upon to cough up when things went pear shaped. They too did not consider the downside of their solid gold investment opportunity

[Peoplesoft bloke]

It reminds me of the Lloyds names who complained of foul play and wanted the Goverment to bail them out when they were called upon to cough up when things went pear shaped. They too did not consider the downside of their solid gold investment opportunity

Indeed - considering they were the kind of marvellous rich clever people we're always being told are vital to our economy, they were apparently unable to grasp the meaning of "unlimited". I knew one of them who naffed off to Spain rather than pay up - rules don't apply to rich people.

[lilelvis2000]

One needs to ask why banking systems in countries like Canada and Australia are doing just fine (relatively speaking), whilst the US and UK banks are failing and needed massive sums to save. Could it be that elGordo and Mr TB reckoned the more they make, the more taxes we get? Thus, let 'em do what ever.. whatever the banks have paid in taxes, we've more than invested in them. Good plan.