Sunday, November 2, 2008

Well, Who’d Have Thought That?

Labour to blame for banking crisis, new report claims

"A report by the Centre for Policy Studies (CPS) to be published on Tuesday will claim the responsibility for the banking crisis lies largely with the Labour Government's decision to remove responsibility for banking oversight from the Bank of England." .................. "Mr Flight said: "The responsibility for the probability of a UK banking crisis can be laid largely at the current Government's door. The roots are in mistaken monetary and economic policies and in regulatory failure."

Posted by renting2 @ 09:05 AM (665 views)
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5 thoughts on “Well, Who’d Have Thought That?

  • planning4acrash says:

    Labour could have insulated us from much of the problem. But its root is worldwide and its causes co-ordinated. To blame Brown without blaming Greenspan and Tritchet is insanity. We need to achnowledge that the war has had a major affect. Monetary policies yes, but does this article go to the root cause? To fiat, fractional reserves and central banking in principle when we discuss monetary policy? To derivatives as being a toxic type of financial product in principle?

    We find in the fanestream media, that there is truth, but journalists are not allowed to mention them until they are beyond reform. Once beyond reform, journalists are able to touch upon the correct general areas, but are left walking in circles around the truth, never quite revealing the criminal culprits to the proles, not leading them to the true solutions, and never explaining in a way that it or the next dastardly phase can be avoided. We the people must take responsibility in our own education, seeking out those who were right and honest before, looking also for timeless texts that were correct during the great depression. All available at places like mises.org and lewrockwell.com, shared to a contemporary audience at campaignforliberty.com

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  • Fractional reserve banking is dodgy but can be made to work.Nationalise all the banks and we get to keep the profits from interest charges.We get to share in the con.
    P.S. I am not an Illuminati or Illuminatus: I am skint is the proof.

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  • What goes around comes around,

    I seem to recall that at the collapse of BCCI, the BOE (which then had ‘oversight’ of the financial health of the banking system) was told that because it had failed to exercise its ‘superpowers’ to see that the banks audited (?) accounts did not reveal the fatal flaws in its financial basis, the job of policing the banks was to be given to a new all singing and dancing authority that would do the job properly.

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  • The cps is a right wing “think” tank so it’s unlikely they would come to any other “expert” conclusion.
    Strange how silent these experts were in the years when saying something may have helped. e.g. at the
    time of Gordon Brown’s famed Mansion House speeches.
    Like the holders of toxic financial instruments, no-one wants reveal their own contribution to the crisis.
    Time to mark the Tories (and everyone else) to market.

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  • dohousescrashinthewoods says:

    This is a good article, covering irresponsible lending, rampant money supply and rounded off with a bunch of shocking and worsening stats.

    The report was written by a Tory so there’s not a little VI about it, but looking at it, reads pretty straight considering.

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