It's all Thatcher's fault

[Doggy Styles]

The very name, Big Bang, which she initiated in 1986 laid the foundations for the real explosion more than 20 years later.
All the hoi polloi whose only aim was to make a quick buck were allowed into the hallowed portals of the City, where for centuries, the upper class who (1) understood risk over the long term and (2) had the interests of the country (admittedly as a proxy for themselves) at heart, had run the roost with good sense and probity.
The result was to be expected.

HTH.

What you have said is like blaming the inventor of the motor car for today's drunken drivers.

Like it or loath it, the Big Bang was inevitable progress, and necessary for competition with foreign exchanges.

The failure was in regulating products and the balance sheets of investors funds, which became a problem when Brown shook up the regulatory system in 1997/1998.

[BrilloPad]

The very name, Big Bang, which she initiated in 1986 laid the foundations for the real explosion more than 20 years later.
All the hoi polloi whose only aim was to make a quick buck were allowed into the hallowed portals of the City, where for centuries, the upper class who (1) understood risk over the long term and (2) had the interests of the country (admittedly as a proxy for themselves) at heart, had run the roost with good sense and probity.
The result was to be expected.

HTH.

Which of the three of you posted that drivel?

Can we have the REAL sasguru back please?

[centurian]

I think the fault lies with not having a downturn earlier. All the 'artificial' money in the system kept things going far too long making things much worse.

Yes, Greenspan's reputation is getting more tarnished day by day. Over the past 15 years, every time there was a hint of the economy cooling off, he pumped more and more money in - basically blowing up the bubble even more.


Over here, all those years of unbroken boom made us forget what it was like to actually think before splashing out.

We spent as if there was never going to be another bust - because we were told it would never happen...

[Doggy Styles]

I blame Peel or whoever it was for setting up the police force. Without them there wouldn't be as many arrests.

[threaded]

The very name, Big Bang, which she initiated in 1986 laid the foundations for the real explosion more than 20 years later.
All the hoi polloi whose only aim was to make a quick buck were allowed into the hallowed portals of the City, where for centuries, the upper class who (1) understood risk over the long term and (2) had the interests of the country (admittedly as a proxy for themselves) at heart, had run the roost with good sense and probity.
The result was to be expected.

HTH.

True, if the Big Bang hadn't happened the City would have been a quite minor exchange when compare to somewhere like Frankfurt.

[sasguru]

More on Big Bang:

http://www.moneyweek.com/news-and-ch...-industry.aspx

[crimdon]

Bring back the real conservatives. They've only your best interest at heart.

their

[NotAllThere]

Bring back the real conservatives. They've only your best interest at heart.

[Bagpuss]

I think the fault lies with not having a downturn earlier. All the 'artificial' money in the system kept things going far too long making things much worse.

[Mich the Tester]

No, it's Jim Callaghan's fault for making the Thatcher government a necessity.

[sasguru]

The very name, Big Bang, which she initiated in 1986 laid the foundations for the real explosion more than 20 years later.
All the hoi polloi whose only aim was to make a quick buck were allowed into the hallowed portals of the City, where for centuries, the upper class who (1) understood risk over the long term and (2) had the interests of the country (admittedly as a proxy for themselves) at heart, had run the roost with good sense and probity.
The result was to be expected.

HTH.