Saturday, Dec 20, 2008
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Panorama: The year Britain's bubble burst
The last 12 months have seen house prices tumble and repossessions rise, with banks needing billion-pound bailouts. Such has been the speed of the economic crisis that the notion of the credit crunch has been replaced by the very real prospect of a recession.
Throughout this period the country has looked to one man to keep them up to date on what is going on - the BBC's business editor Robert Peston.
Now, in The year Britain's bubble burst, Robert looks back across the twists and turns of the past 12 months to tell the untold story of the crisis and just how close we came to financial meltdown.
Posted by luckyjim @ 11:26 AM (1473 views) Add Comment
11 Comments
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1. paul said...
"Speaking exclusively to key players, including Chancellor Alistair Darling, Financial Services Authority chief Hector Sants and leading bankers,"
Ah. We really shouldn't expect any insightful or scathing commentary by interviewing the very people who brought about the crisis (along with a few absent others).
2. Mrb said...
Can't wait for this, Christmas Turkey and bearish economic news. Beats Chitty chitty bang bang hands down.
3. down wave said...
Smoke Screen:- Neither the BBC or their pundit - Robert Preston are keeping anyone up to date
about anything, He is in fact commenting on what has gone-down about the bits of News that
they have chosen to broadcast. And they have to broadcast it because everyone has already heard
about it from elsewhere.
The BBC gave up broadcasting truth years back. Now their only purpose is to pay large sums of
our money to the idiots that they employ to entertain us with unethical improprietous rubbish.
The directors and the staff of the BBC do not have any Mettle whatsoever.
4. enuii said...
Post-cognition - Knowledge of an event or situation after everyone who was awake has already seen it.
No doubt there will be many government knobs singing from Gordon's Economic Hymn Book.
5. fjcruiser said...
Propaganda from Herr Preston.BBC economic reporting has turned into a bad joke.
6. alan said...
I agree with Down Wave. Peston is as up to date as Time Team and less entertaining!
At least Mandelson was honest enough to admit that the whole thing fell over because the incumbents (Gordon & Darling) thought they could manage the housing bubble (and scewed it).
Some prognosis for the future would be useful on a Panorama programme, but I don't think we will get that. It might rock too many boats. Cameron said on TV that we are the most indebted nation in history...can anyone see it getting better?
Gordon thinks a "can do" attitude is what is needed. What a wally!
7. Tenyearstogetmymoneyback said...
I don't know why people keep knocking the BBCs reporting.
Thanks to this program http://news.bbc.co.uk/1/hi/business/3478635.stm broadcast in February 2004
A summary of the program was "You want a ten times salary mortgage. Just go Self Cert with Birmingham Midshires and it won't be a problem"
I sold my Halifax shares the next day which now turns out to have been a superb move.
Its a shame no one in Governement appears to have watched it or believed it.
:- Duncan
Bought 1989 £65500 Sold 1999 £70500
8. Seasonticket said...
I think the link has a couple too many forward slashes after the 'http:'. Should be:
http://news.bbc.co.uk/panorama/hi/front_page/newsid_7788000/7788708.stm
9. nopensionnohouse said...
Robert Preston is probably the most annoying presenter the BBC has at the moment. I can’t stand listening to the drivel that comes out of his mouth.
I hate the way he talks… and he can talk for 10 minutes and not actually say anything!
10. mountain goat said...
Pesto does the weirdest things with his hands while talking, but have to concede that when banks were being eaten alive by the shorts a few months ago he was the one who seemed to have his finger on the pulse.
11. nopensionnohouse said...
Finger on the pulse? Are you kidding me? He was wheeled out every 20 minutes to state the bleeding obvious. I could have done better…. And that’s saying something!
Next time he is on listen to what he says – then try to summarise the message after. There is no info in what he says.