Friday, Sep 19, 2008
NuLab's fling with the city appears to be fading
Guardian: Harman lays into excessive City bonuses
'The Labour deputy leader, Harriet Harman, yesterday claimed the public were outraged at the level of city bonuses, which had brought "mad house prices" to London and sent ripples across the country.' Brown has been keen to pin the credit crunch on global issues now Harman is blaming house prices on the city.
Posted by quiet guy @ 08:47 AM (821 views) Add Comment
13 Comments
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1. paul said...
I don't know where to star - she's such a waste of air. The story is on message but then she opens with this:
"She denied Brown would be held accountable for permitting an unsustainable credit bubble to build during his chancellorship".
Yeah, you run along now.
2. Davidg said...
intellectually crippled
3. nubbers said...
"She denied Brown would be held accountable for permitting an unsustainable credit bubble to build during his chancellorship".
Its like one of those comprehension tests you had at school. Surely this means:
"Brown permitted an unsustainable credit bubble to build during his chancellorship".
4. honest valuer said...
What about the public outrage about unsustainable public sector pensions building up every year which will eventually make the recent bank bailouts look like a storm in a teacup?
5. cornishman said...
nubbers - you didn't finish off:
"Brown permitted an unsustainable credit bubble to build during his chancellorship".
But he won't be held accountable for it
(since it will all be fudged and spun away).
6. Will said...
I am pleased that she has recognised our anger.
What will she do about it ?
7. sold out said...
Absolutely amazing the bullsh@t that's being trotted out by Zanu labour.It seems the last 10 years of easy credit, the housing bubble and the debt bubble is all the fault of "global issues" or "excessive city bonus's" and this weeks events are all the fault of "short selling practices".
Its akin to Zimbabwe's dictator Mugabe blaming his countries demise and hyper-inflation om "British Colonialism".
8. sold out said...
sorry should read
"on "British Colonialism".
9. mark wadsworth said...
What honest valuer says.
10. mark wadsworth said...
Anyway, if you want to prevent credit/land price bubbles in times of low interest rates/low inflation, why not turn to our old friend Land-Value-Tax-Man?
LVT-man will fix it without extra 'regulation' (i.e. rules designed to protect incumbents) while raising money in the process which can be used to get rid of a shed load of other taxes. You know the list by now, I hope.
11. renting2 said...
As honest valuer says, but with extra stress on MPs allowances etc.
12. a saver said...
It's a wonder a big lightning bolt didn't strike her down. After her party did everything to encourage the city boys' greed - low interest rates, deregulation (or was that the Cons?)/lack of FSA supervision of banks so they lent too much to unsuitable people, allowing the housing bubble to get out of control, tax laws favouring the super-rich etc, not to mention legitimising shorting and denying that the US' problems could ever happen to us here, don't get me started...
13. Andy said...
Incidentally, amid all the talk of housing weakening, it’s interesting to note a comment made by Harriet Harman in The Independent yesterday. Answering a series of questions from readers, Ms Harman came across exactly as you’d expect a New Labour MP to come across – arrogant, bristlingly defensive at any hint of criticism, and also frighteningly ignorant.
When asked by one reader if it was true that she had remortgaged her house to fund her campaign to become deputy leader, she answered: “Yes. And I trust Alistair Darling will keep interest rates low!”
We’re always complaining about financial literacy, or the lack of it, in this country. But when even a member of the cabinet doesn’t know who’s responsible for adjusting the country’s most important economic variable – in case you’re reading Harriet, it’s Mervyn King, the governor of the Bank of England - then what hope is there for everyone else?
http://persevere.lineages.co.uk/2008/02/26/the-housing-slump-is-here-to-stay/